UK refuses to commit to timetable for rollout of pension dashboard

first_img“We want to be careful to cover all the challenges associated with the dashboard, such as funding, governance as well as what role the government might have and whether legislation is necessary,” Baroness Buscombe said.She added that her department was also looking at experiences overseas to understand more of the concept of a pensions dashboard. Example of state pension information displayed on the pension dashboardThe concept of a dashboard to collate all an individual’s pension savings and entitlements was first suggested by former chancellor George Osborne in 2016. At the time, he said the tool would be up and running in 2019.Current pensions and financial inclusion minister Guy Opperman last year promised government support for the project, which has been developed so far by the Association of British Insurers (ABI) and technology firm Origo. He also reiterated the 2019 target.However, last week the Times newspaper reported that Esther McVey, the UK’s state secretary for work and pensions, was considering abandoning her department’s work on the tool in favour of other welfare reforms.The ABI said that the government risked exposing millions to fraud and lost pension pots if it abandoned its support of the pensions dashboard.More than 87,000 people have signed an online petition urging the government to support the project.The ABI and Origo have been working on prototypes for a dashboard for two years. Last month, Origo announced it had successfully tested a version for use by up to 15m pension savers. Baroness Buscombe addresses the House of Lords todayBaroness Buscombe also stated that any decision to force pension providers to partipate in the tool – as suggested by Labour peer Lord Bill McKenzie during questions – would depend on several issues, including the functionality of the dashboard, the delivery model, and its governance.She said that the government’s views on this would be set out “in due course”.Lord McKenzie had urged the government not to change tack on the dashboard plan, adding that the DWP should have ownership of the online tool.Baroness Susan Kramer of the Liberal Democrats suggested that the government was dragging its feet on the dashboard.“The industry is – to put it mildly – cross, having done all of the work that it needed to contribute towards creating a pensions dashboard,” the peer said. Baroness Buscombe referred to the country’s online pensions tracing service to help people locate details of legacy pension pots, as well as the website Check Your State Pension. She added that the DWP planned to launch a Single Financial Guidance Body next year, to replace the numerous bodies offering guidance on different areas of personal finance.The dashboard’s developmentcenter_img The UK government has not committed itself to a timetable for when a pensions dashboard will be operational, it said today.Baroness Buscombe, parliamentary under-secretary for work and pensions, said “feasibility work” was nearing completion, but highlighted the complexity of the issue in developing the online tool.“The more we look at it, the more questions we are asking ourselves and the industry,” she said, responding to questions in the House of Lords, the UK parliament’s upper chamber.The government has received criticism in the past week since a UK newspaper report claimed the Department for Work and Pensions (DWP) was considering abandoning support for a dashboard, which would collate all an individual’s pension savings and entitlements.last_img read more

More gold medals for Jamaica at Commonwealth games

first_imgJamaican athletes continue to impress with gold winning performance at the Commonwealth Games underway in the Gold Coast, Australia.On Wednesday morning Jamaica’s Aisha Praught created Caribbean track and field history when she, in remarkable fashion, won the women 3000meter steeplechase in a personal best time of 9:21.00 seconds. In winning the gold Praught defeated the event favorite Celliphine Chespol of Kenya who was second in a time of 9:22.61 secs. This is Jamaica’s first gold medal in steeplechase at a major event.On Tuesday, another Jamaican, Ronald Levy captured the men’s 110meters hurdles title. The 25-year-old clocked 13.19 seconds, leading a Jamaica one-two as teammate Hansle Parchment copped silver in 13.22. Australian Nicholas Hough stopped the clock at a personal best 13.38 to claim bronze.Javon Francis won bronze for Jamaica in the men’s 400m final with a season’s best of 45.11 seconds. The race was won by Botswana’s Issac Makwala in 44.35, while his compatriot Baboloki Thebe finished second in 45.09s.As of the close of Wednesday’s events Jamaica had won 3 gold, 5 silver and 6 bronze medals, placing 11th in the medal standings. Trinidad and Tobago had 1 gold and 1 silver to place 18th; Bermuda and Grenada with 1 gold medal to tie for the 21st place; the Bahamas with 1 silver to place 26th; and Dominica 1 bronze medal to place 31st.last_img read more

Luckbox strengthens ID verification measures with HooYu partnership

first_imgShare Submit MoneyMatrix boosts wire transfer options by integrating Klarna’s Sofort August 24, 2020 Luckbox outlines final TSXV roadmap July 29, 2020 Share Luke Campbell, Champion Sports: Modular thinking most play the lead role in sportsbook migrations August 26, 2020 In another landmark move for the startup, Luckbox has entered into a partnership with ID verification specialists HooYu which will provide its esports customers with HooYu’s Identify solution. The move comes as Luckbox prepares for its full product launch, with the esports betting platform having recently been awarded a full gambling licence in the Isle of Man.HooYu’s Identify solution offers users the ability to implement customer age and identity verification measures, which will ultimately help Luckbox clamp down on underage gaming.Luckbox chief operating officer Quentin Martin commented on the new partnership: “From day one, we’ve made integrity, player security and doing things right among one of our top priorities at Luckbox and nowhere are these values more important than customer onboarding process.“The esports betting industry has long been plagued by shady operators acting with little or no regard for the rules or the safety of their players. This problem has been particularly acute regarding underage gambling – too many esports betting sites have allowed underage players to gamble and this is clearly unacceptable and something that needs to stop.“Thankfully, things are changing and Luckbox is proud to be among the operators leading the shift that will help legitimate operators, players and the wider esports industry.”The startup has been preparing for its April 2019 launch with a recent partnership announced between Luckbox and MoneyMatrix. Martin detailed that the EveryMatrix payment property has been selected for its ability to meet esports-betting customer and scale complexities. StumbleUpon Related Articleslast_img read more