Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.
The secretary of state said legislation would be used where necessary to "ensure that the interests of pension holders are safeguarded and personal information is protected", but that the project will be driven by innovation in the private sector.
“It’s clear there is broad support for the concept of a dashboard and its potential to empower those putting money away for their futures," said McVey in a statement. “By taking a leading role, and harnessing their knowledge, industry can develop a dashboard that works for pensions holders – and government will help facilitate this.”
Press speculation that McVey was keen to drop the policy was rife, but government sources said the secretary of state is "committed to delivering this dashboard".
However, the defining features of the dashboard will not be confirmed until the government has carried out a feasibility report, to be published at an as yet unknown date.
Key questions include whether schemes and providers, some of which hold member data in outdated and even paper-based systems, will be compelled to submit benefit information to the new system when it is created. Experts fear the dashboard will be of limited use if coverage is not universal.
"If there isn't any compulsion to bring legacy providers into the solution, it's dead in the water," said Mike Barrett, The Lang Cat's consulting director.
It is also unclear whether the government will stick with its conviction, outlined in June, that "the idea of multiple dashboards confuses users".
