Did you know that UK workers have lost track of around 1.6 million workplace pension pots? That’s a total of £19.4 billion of lost pension savings. 

The good news is that the government has introduced the Pension Dashboards Programme to help address this issue. The programme aims to help people keep track of their savings, improve their financial wellbeing and plan better for retirement. 

Dashboards are likely to become available to members from 2027, and over 50 million pension records have connected already. The Trustee is very pleased to confirm that Nationwide Pension Fund is connected.

How will it work?

Pensions Dashboards will help people view their pension information securely and all in one place online. 

Everyone will have their own dashboard which brings all their pension information together (including the State Pension). By showing savers the total value of their combined pension benefits, dashboards will help simplify retirement planning and make it easier for people to estimate their potential retirement income. 

To access your dashboard, you’ll need to submit some personal details to confirm your identity. Your details will then be matched with all UK pension providers and key pension information they hold for you will be sent to your dashboard for you to view, along with contact details for each provider.

Since your dashboard won’t actually hold your data itself, it’ll be a secure way for you to get the information you need with peace of mind, linking you and information from your pension providers together safely and all at once.

What information will I see? 

• Administrative data – scheme names and the name and contact details of scheme administrators
• Value data – the estimated value of your pension benefits from each scheme

As a deferred member of Nationwide Pension Fund, you’ll see the estimated value of the pension payable to you at your Normal Retirement Date from the Fund. You’ll also see any other information regarding pensions you may have with other providers.

Find out more about dashboards on the Pensions Dashboards Programme’s website. 

Getting connected 

The journey towards getting personal dashboards up and running has been a long one and there’s still some way to go.  For now, dashboard testing continues.

The good news is that the Fund is now connected to the dashboard environment. That means you’re one step closer to being able to use your dashboard in 2027.