Money and Pensions Service (MaPS) Pensions Dashboards Programme, Qualitative Research with Potential Dashboard Users

What is the Pensions Dashboards Programme?

The Pensions Dashboard Programme (PDP) is part of MaPS. It was created in 2019 to lead on the design, development and implementation of the infrastructure behind pensions dashboards in the UK and contribute to the Future Focus agenda. The aim of the programme is to provide greater transparency around and access to pensions information by providing individuals with a platform in which they are able to view all of their pensions information online, securely and in one place.

Key Findings

The pensions dashboards concept appears to have strong potential to drive increased pensions knowledge and engagement, and to do so across a wide range of potential users.
Product holding (singular vs. multiple pension pots / DC vs. DB schemes) and age/life stage are key factors driving and influencing views of the pensions dashboards concept and the propensity to use/likely take up of the service.

The concept resonates most, and is likely to have the biggest impact, among those with multiple pensions pots and those mid-late career stage where the value of the service (particularly in relation to helping guide and inform future retirement income planning) is easily and readily recognised.

Pensions value information (both accrued and projected) and associated dates (pension start date and retirement age) are perceived as priority information components to include and, for most, are seen as critical to both the initial and long-term appeal of the service.

The potential user journey tested positively and each of the different stages tested were considered to be intuitive and logical (even among those who were less likely to engage with the service). General attitudes and behaviours relating to online data sharing and security drove perceptions of these elements of the user journey and these cut across the range of potential user groups, transcending both age, life stage and product holdings, indicating that reassurances around these factors will be an important area to address when communicating the service.

For the vast majority, positioning as a Government service adds credibility to the pensions dashboards offering and provides the necessary reassurances to overcome any initial concerns around data sharing, confidentiality and security, as well as counteracting questions around the motive of the service.

However, in addition to this, a combination of both brand familiarity, service descriptors and signposting from trusted and credible sources are also key to reassuring potential users of the legitimacy and relevance of the service. In the first instance, respondents anticipated a wide-reaching public awareness raising campaign in order to generate conversation and motivate consideration of the service.

Methodology

The report summarises findings from the two project phases carried out respectively in February-March, and August-September 2021. In-depth interviews allowed for spontaneous thoughts to be captured at each stage of the discussion, prior to more detailed prompting and probing. The initial phase of fieldwork (phase one) consisted of 50 in-depth interviews (a mix of online and telephone). Phase two of the research consisted of a further 60 in-depth interviews (again, a mix of online and telephone).