The idea of a Pensions Passport is not new, but its time has come. To have one location that holds all your pension information from the multiple employers you have worked for, all in the same format and all readily accessible is something that can be done with today's technology- and should be done.
It should hold all the State pension data together with any and every pension from other sources -all held in the same way, in recognisably the same format.
Management of data has come a long way in a short time. This kind of thing is now achievable. Borders between pension schemes in the UK can be crossed easily in this way and the full information available for advisers means they can concentrate on the advice and not spend endless months gathering the information in the first place. There's a growing enthusiasm in the pensions press for a Pensions Passport and it might just promote enough enthusiasm to get the job done.
It should hold all the State pension data together with any and every pension from other sources -all held in the same way, in recognisably the same format.
Management of data has come a long way in a short time. This kind of thing is now achievable. Borders between pension schemes in the UK can be crossed easily in this way and the full information available for advisers means they can concentrate on the advice and not spend endless months gathering the information in the first place. There's a growing enthusiasm in the pensions press for a Pensions Passport and it might just promote enough enthusiasm to get the job done.
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