Digital pensions should mean more than an app

Graeme Riddoch asks us to consider pension technology and asks why we don’t have apps on our phones that allow us to manage our pension data – things like personal details, nominations and so on.
Everything that Graeme says makes sense, but it only gets us to first base! Member self-service has been a goal for 20 years and developing better interfaces is part of the solution, but we can go so much further.
Why aren’t we redesigning our record keeping systems using the blockchain and DEFI? If all our pension data was on a distributive ledger, many of the concerns about the veracity of its narrative would fall away. The concerns about identity would similarly be undermined by the technology in place.
We still rely on the creaking technology of Origo for pension transfers and are yet to move to Swift messaging as we have elsewhere.
I am sure that the pensions dashboard will expose the inadequacies of those who lag, but let’s hope that we move to “open pensions” as a full part of the open finance initiative.

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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