Pension and Wealth Solutions
Pensions Dashboards: win the race for primacy
The pensions industry is in a race for primacy, where only one provider can be a consumer’s first choice. Winning this race means securing engagement, consolidation, and retention.
A leading Pensions Dashboard is no longer a nice-to-have; it is a must-have in a competitive market. The first dashboard a consumer uses is the one they’re most likely to stick with, so invest now or risk losing primacy later.
“The expertise, technology and support Moneyhub provides has been invaluable in driving engagement and improving the financial wellbeing of our members, and supporting our clients. We are looking forward to working with them on our Pensions Dashboard offering”
Neil Hugh Head of Workplace Proposition, Standard Life
Small pots lead to small decisions
Encourage the consolidation of fractured pension pots with Pensions Dashboards and the post-view services built upon them. Provide customers with the tools to make more informed decisions on their investments.
Small pots lead to small decisions. Multiple pensions leave consumers managing a fractured retirement fund, with several smaller pots incurring multiple fees. Pension holders with pots under £10,000 cash out 85% of the time, converting tax-efficient investments into slower-growing, subject-to-tax savings.
Get the data you need to engage an individual through retirement modelling, encourage customers to keep their funds invested (when it’s right) and satisfy customers with better-informed financial choices.
A must-have in the primacy race
In the race for primacy, the cost of inaction is a direct threat to your AUM. Pensions Dashboards are not a ‘nice-to-have’ but a strategic imperative.
When customers access their pension information through a competitor, they are more likely to consolidate their assets there. Prevent the gap between withdrawals and deposits from growing and invest before your competitors to secure your position in the market.
Partner with the outright leader
During the testing phase, Moneyhub was the only provider to create a successful end-to-end connection for Pension Dashboards.
Let us do the legwork for you, with end-to-end packages to support you in the scoping, regulatory permissions, building and launching of a Pensions Dashboard Service.
In Norway, Pensions Dashboards have been around for almost 20 years. 95% of requests are made through commercial Pensions Dashboards, with just 5% through the government service. The opportunity is there, but it’s up to you to take it.