For the first time, members will be able to see all their pensions – workplace (for eligible schemes), private and state all in one place, marking a regulatory and operational milestone.

It will drive greater transparency, raise data and governance standards, modernise scheme processes, and reshape member expectations around real time access and engagement.

Visibility, however, does not automatically equal understanding, and the real challenge lies in helping members make sense of what they see, and take the right action for them.

For members in their forties, retirement can still feel a long way off. Potentially, with mortgages, childcare, and high living costs, it’s all too easy to postpone saving decisions. Yet this is the age when saving is statistically easiest, with higher disposable incomes and the longest time horizon for investments to grow.

Minimum auto-enrolment contributions are unlikely to provide enough for a comfortable retirement, especially if inflation remains high. The consequences of under-saving are already visible among older members. A survey carried out by Standard Life found that close to one in 10 retirees aged over 55 have returned to work, with a further 6% considering doing so. Money pressures were the main driver, with one-third citing increased living costs, and one-quarter saying their pension didn’t cover daily expenses.

The lesson for those in their forties is clear: delay now, and it may be too late to catch up later.

For members in their fifties, the challenge is different. Many may hold multiple pots across different employers and a mix of defined benefit and defined contribution arrangements. Dashboards will help bring this information together, but clarity depends on knowing what it all adds up to and how far it will stretch.

The latest Pensions UK Retirement Living Standards survey highlights how unprepared many still feel. Across respondents, 74% said they had carried out only a little or no retirement planning. Two-fifths of people in their fifties said they were not confident of being able to meet their desired income in retirement, with 14% saying they were not confident at all. Despite this uncertainty, 82% admitted they did not know how much they would need to maintain their standard of living in retirement.

Inflation only adds to the problem. Even modest price rises make a big difference over time. If prices go up by 3% a year, a pension that stays the same would only buy about two-thirds of what it does today after 15 years. At 7% a year, that same pension would only stretch to around one third. In other words, the pot may look the same on paper, but in real life it would cover far less of someone’s retirement costs.

For this group, the real challenge is turning numbers into a plan: understanding whether current savings match future needs, and what changes can still be made to close the gap.

For members in their sixties, the focus shifts from saving to spending. The temptation is often to take the maximum 25% tax-free lump sum, but whether that is truly necessary is another matter. Holidays, home improvements and helping children may all feel justified, but overspending early can compromise long-term security.

Mapping out likely future spending is essential. This includes everyday living costs, special treats such as holidays or home improvements, and unexpected outgoings such as house maintenance, car replacement, or financial help for children and grandchildren. Inflation adds to the challenge, steadily eroding the value of pensions that are not inflation-linked.

The task here is balancing present needs and future stability.

Much like an investment life styling exercise, guidance should be tailored to fit each stage of life, giving members information that is timely and relevant. For those in their forties, that might mean highlighting the benefits of increasing contributions while they still have time. For those in their fifties, it could be about setting realistic expectations and factoring in the effects of inflation. For those in their sixties, it should focus on spending patterns and sustainability.

Dashboards should act as a catalyst for change, but it will only succeed if schemes are fully prepared. That means not just connecting on time, but ensuring the data inputted is complete, accurate and up to date. Dashboards will only ever be as strong as the information that sits behind them, and members can only make good decisions if they are looking at the right information. High quality data and education is critical to building trust, supporting engagement, and ultimately helping people make better choices for their future.

Ultimately, the Pensions Dashboard isn't just a tool for members, it represents a structural shift in how schemes operate and interact with savers and help them better plan for their retirement, an opportunity that must be grabbed with both hands.

Rob Chandler, Pension Consultant – Cartwright Pension Trusts