See all your pensions in one place using new phone app

SAVERS will be able to check the value of all their pensions in one place for the first time via a smartphone app under a new Government scheme.

From next year new free “pensions dashboard” apps will allow people to easily access the information from multiple pension schemes in one place online, the Government has said.

At present savers with pensions from different employers have no way of viewing their total expected pension on one screen. It is also hoped that people’s future state pension payments will be included in the dashboard to give an accurate picture of their expected retirement income.

However, the scheme, which is designed to give people better understanding of their pensions, could end up misleading millions, if their records are incorrect or incomplete, it emerged earlier this year.

According to a database of millions of pension records seen by Experian, the credit checking firm, one in eight pensions has the wrong address attached to it, while tens of thousands also have wrong names.

Theresa May, the Prime Minister, said: “It needs to be easier for people to be able to make informed choices on their pension pots.”

Guy Opperman, the minister for pensions and financial inclusion, said: “Having pensions information at the touch of a screen will ensure better-informed, more engaged savers and help many more people to plan effectively for retirement.”

It is envisaged the first pensions dashboard will be established in 2019, with multiple pension dashboards to be introduced in the following years.