My own personal blog. Newham Council Deputy Mayor, Cabinet member for Housing Services & Chair of Investment & Accounts. Councillor for West Ham ward, UNISON Branch Chair, Regional Council Officer & NEC member, Pension & Charity Trustee, Centre left and proud member of Labour movement family. No trolls please.
Sunday, July 22, 2018
"Tell Esther McVey MP not to scrap the pensions dashboard"
I have already about 10 different defined benefit and defined contribution pensions. It is ridiculous in this day and age that we cannot have a single dashboard to control them.
The Welfare Secretary Esther McVey wants to "kill off" a new government website which would help millions of people keep track of their pensions throughout their careers, because she thinks it's not the government's job to help. Without it millions of pension pots are at risk of being lost.
According to estimates by the Department for Work and Pensions, 50 million pension pots will be lost by 2050 without an official website to help workers to keep track of savings through their careers.
The website has already been successfully tested, and was due to be rolled out nationally soon. It's all the more urgent because new laws to boost pensions have led to 9 million workers being automatically enrolled on to workplace schemes in recent years.
A huge petition signed by thousands of us will show the government we expect them to keep their promises and continue to roll out the pensions dashboard.