Pensions dashboards could leave savers at risk of 'poorly informed' transfers

Research finds two-fifths of savers likely to use dashboards to carry out a pension transfer

Martin Richmond
clock • 3 min read

The introduction of pensions dashboards could result in more than £2bn of retirement savings being lost due to “poorly informed” transfers by 2030, according to research.

Data from the provider of The People's Pension's Pension Transfer Outcome Index – which is based on movements where people switch from a lower charging workplace pension that is subject to a charge cap, to a higher charging, uncapped retail schemes – found losses due to these transfers are forecast to rise from £1.2bn to £1.7bn by 2027. The index also reported this figure is anticipated to exceed £2bn by 2030. A survey of more than 2,000 adults, commissioned by People's Partnership and conducted by YouGov in September, found 42% of respondents said they would be likely to use a pensions ...

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

Martin Richmond
Author spotlight

Martin Richmond

Reporter at Professional Pensions

More on Pensions

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
FCA to crack down on life insurers with 'slower' pension transfer service times

FCA to crack down on life insurers with 'slower' pension transfer service times

Regulator warns slow pension transfers risk harming client outcomes

Isabel Baxter
clock 15 August 2025 • 5 min read
Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read