Pensions dashboard 'UMA': The acronym to make a dream into reality

Dashboard has broad suport

clock • 4 min read

In the face of the daunting task of setting up a pensions dashboard that consumers can trust, Nick Caley and Michael Roe say user-managed access (UMA) is a little known but essential starting point

In the face of broad support for the pensions dashboard, Work and Pensions Secretary Esther McVey has backed the pensions industry to deliver one easy-to-use tool. None of us underestimate the sheer scale of the challenge of creating an interface for people to find, monitor and manage their pension savings. It has been estimated that the typical UK worker now has up to 11 separate pension pots by the time they retire, and there are no less than 40,000 pensions schemes operated by some 300 providers in the UK. But consumer behaviour and expectations have changed, and technological a...

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