One of the most anticipated technological advancements in the pensions industry is arguably the introduction of pensions dashboards. 

The Financial Conduct Authority initially said a dashboard was needed in 2016. The original deadline by the government for an industry designed, funded and launched pensions dashboard was 2019. However, this was not met and dashboards are now set to go live in 2023.

In the meantime, fintech firms are jumping into the gap, changing how savers expect to be informed about and engage with their money. 

Here is a list of other innovations available now to help users have an easier experience with their pensions.

Founded in 2018 at Cambridge University, this app gives people a say in where their pensions are being invested. Users can see what their pension is going towards and express a preference about shareholder votes at companies they have exposure to. 

The app aims to bring the real asset owner’s voice in on critical social, environmental and governance challenges. This app has a great selling point for young people who have been predicted to be more interested in ESG as a way of getting more engaged with their pensions.

With less of an emphasis on pensions, Moneyhub is an app that aims to help users on their financial journey by putting all their finances in one place. As a form of open banking, Moneyhub places all of a user's accounts, investments, assets and borrowing on the same platform. 

The app also gives insight into personal spending habits and advice. Including a 'find advisers' function that lists regulated advisers for user’s to connect to.

Two years ago, a report by Sanlam UK revealed that almost half of UK adults were opting against speaking with a financial adviser. With the launching of apps like these, people now have access to advice on their smartphone.

This app transfers all of user’s old pensions into one online plan. PensionBee launched in 2014 and aims to innovate the UK pensions industry by making it easier for people to locate their existing pension plans. 

According to a study by online adviser Profile Pensions this year, 1 in 4 under 55s thought they had lost track of at least one of their pensions. PensionBee works to tackle this problem by putting everything in one place.

Well One Money is for members of schemes looked after by Aon and can help employers to be in a position to support their employees’ financial wellbeing. 

The app is a financial management platform which gives an aggregated overview of the user’s current financial status alongside a financial forecast for any finance, savings or retirement goals they have. It also supports financial knowledge though finance-related articles and personalised advice.

These are just some of the many apps that are tackling common problems such as engagement and where savers’ money is invested, and more will undoubtedly be launched as people increasingly turn to technology for helping them with their finances.