Millions could 'lose £15,000' if govt scraps pension dashboard

175,000 signatures so far

Hannah Godfrey
clock • 1 min read

Some 10 million people in the UK stand to retire with £15,000 less if the government scraps the pension dashboard, according to research by campaign group 38 Degrees.

The campaign group calculated the £15,000 figure by looking at government data that suggested there will be 49.6 million dormant pension pots worth £757bn by 2050. Dividing £757bn by 49.6 million gives an average pot size of about £15,000. 38 Degrees hosts the petition to save the pensions dashboard, which has now gathered 174,690 signatures. The petition is addressed to secretary of state for work and pensions Esther McVey (pictured) and has called on the government not to "scrap" the project. It came after McVey was reported to be preparing to "kill off" the government's involvem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read