Building a better future for UK savers

The UK's financial sector is in need of innovation within its pension system. Currently, basic information about costs, charges, and performance can be difficult to find for pension savers. Almost 60% of pension savers don't know their current balance, and 80% leave their pension behind when they switch jobs. The Pensions Dashboard aims to reunite pensioners with lost pensions, but more innovation is needed. Open finance could provide savers with ownership and control over their pension information, leading to better tools for managing their money and ultimately, happier retirements. However, regulators, industry, and providers need to work together to make open pensions a reality.