The Department for Work and Pensions (DWP) has successfully connected the State Pension to the pensions dashboards ecosystem, marking a significant step in retirement planning. For the first time, individuals can view their personal, workplace, and State Pension information in one place, offering a clearer picture of their retirement savings.
What State Pension Information Will Be Displayed?
For users below State Pension age, pensions dashboards will provide key details, including the date they can claim their State Pension, an estimate based on their current National Insurance (NI) record, and a forecast assuming continued NI contributions. A link to further State Pension information on GOV.UK will also be included. However, details such as years of NI contributions, gaps, or credits (e.g., for caring responsibilities) will not be shown. Users can access this information via the Check your State Pension forecast tool on GOV.UK.
Limitations for Those Above State Pension Age
If you’ve reached State Pension age, your State Pension information will not appear on pensions dashboards, even if you’ve deferred claiming it. Similarly, dashboards will not display how deferring your State Pension might affect its value or provide projections for voluntary NI contributions. For such details, users are directed to GOV.UK’s State Pension forecast tool.
National Insurance Contributions and Voluntary Top-Ups
Pensions dashboards will not show NI contribution histories, including gaps or credits, nor allow users to top up voluntary contributions directly. However, a link to relevant GOV.UK resources will guide users on how to address NI gaps. Projections on how voluntary contributions could boost your State Pension are also available through the Check your State Pension forecast tool.
Data Updates and Security
State Pension values are based on a user's National Insurance information and will usually be updated annually unless there have been other changes to the user's National Insurance record. This is still being confirmed.
What’s Not Included?
Pensions dashboards will not cover benefits like Pension Credit, which is separate from the State Pension, nor will they replace the Check your State Pension forecast tool or HMRC app services. For comprehensive retirement planning, pensions dashboards offer a valuable starting point, seamlessly integrating State Pension details with other pension information.
