The ABI released the names of the ‘technology development partners’.
They will be constructing the first prototype of an online service, which will show people all their pension savings together.
The project is being managed by the ABI on behalf of HM Treasury, with the prototype due to be ready for testing in March next year.
Over 60 firms expressed an interest in taking part in the project on a pro bono basis.
The firms have been assigned to five different areas of the project as follows:
Pensions Dashboard User Interface (how people will interact with the dashboard)
- Runpath and Experian (joint pitch)
Pensions Finder Services (how the system retrieves information on people’s different pension pots)
- Origo and Experian
Identity Providers (verification of people’s identity and personal details)
- Safran and Experian
Integration Service Providers (providing the additional connections some pension firms will need to share data with the dashboard)
- ITM and Aquila Heywood
Matching / Data Quality Analysis (overcoming the challenges of finding everyone’s pension in every system)
- ITM and Experian
Yvonne Braun, the ABI’s director of long-term savings and protection policy, said: “The concept behind the Pensions Dashboard is brilliantly simple – savers should be able to see at a glance what money they are likely to have in their retirement, based on all the pensions they’ve gathered during their working lives.
“The practicalities of making this happen are, however, very complex and involve securely retrieving and presenting a large amount of personal and financial information for every person of working age in the country.”
She said the dashboard has the “potential to revolutionise how people think about saving for later life”.
The goal of the final dashboard, due for public use in 2019, is to allow everyone to access details of their entire pension savings, including the State Pension and any final salary schemes, in a single online place of their choice.
Paul Pettitt, managing director of Origo, said: “Origo is one of two suppliers dedicated to working on the Pension Finder Service – in effect the engine that will enable the secure transmission of data between consumers and pension providers. Origo has also been supporting the work to develop the required open standards.
“We believe that the Pensions Dashboard will be a game changer in the way that consumers access their pensions information and engage with their retirement planning.”