The Society of Pension Professionals (SPP) has called for clarity on the method, accuracy and scope of producing estimated retirement income (ERI) as part of the pensions dashboard.
The pensions trade body said "significant uncertainty" surrounds the issue of ERI, and has made a set of recommendations to the Department of Work and Pensions (DWP) and the Pensions Dashboard Programme (PDP) on how ERI should be approached as the dashboard is rolled out. On the methodology used to calculate ERI, the SPP recommended ERI should be a retirement estimate based on savings as of the current date of calculation. It said this would establish a figure for within, for example, 12 months of the date that it is quoted. In relation to the accuracy of the ERI, the SPP said while i...
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