Former pensions minister Steve Webb has warned against “dumb dashboards” being created by government proposals in their current form.
Webb, who is also a partner at Lane Clark & Peacock (LCP), is concerned that plans for pensions dashboards are currently too cautious. In its consultation on the topic, the Department for Work and Pensions (DWP) stated pensions dashboards will not be prevented from "offering people to export their data away from the dashboard, either to another page within the provider's system or beyond". With a potential limited use, LCP warned users may be tempted to take their data elsewhere where it will be at greater risk of scams and poor decisions. "The desire to protect consumers is unders...
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