Despite this catalogue of failures and mis-judgements, some are beginning to look at them anew as potentially a gateway to a better advice market.

The problem is that the powers that be are not too keen on this approach, at least not yet. But could they be persuaded?

It could still be the case that with a little nudging here and there we may still be able to retrieve some sort of progress for the pensions sector from what looks like a mess.

At least two organisations, the Society of Pension Professionals and Aegon, have made a call this week for the dashboards to have some sort of route towards offering guidance or advice built in, rather than just information about pensions pots.

It’s worth remembering the FCA first called for the development of Pensions Dashboards in 2014. Since then a lot has changed and the time may be ripe to update the dashboards for a different era.

The Consumer Duty is one major development to have happened and the current advice-guidance review is another. Both aim to give consumers more support and help in making better financial decisions. 

With this in mind, would not the Pensions Dashboards be the perfect vehicle to do this?

If all the dashboards offer is a list of numbers relating to pension pots with no explanation of what they mean and how they can be used, will the dashboards really be much in the way of progress?

Would it not be far better to include the ability to link to an adviser, either online or via video call if the dashboard user wanted more help?

Built-in guidance or advice could be the missing link and transform pensions engagement.

This sounds a bit simplistic but it’s worth exploring. It could be the final piece of the jigsaw and as long as the advice was regulated, affordable and appropriate it could be a boon for baffled pension savers (of which there are millions).

Of course, some will argue that it’s too late to make major changes and the dashboards were never intended for this purpose.

That may be so but it’s at least a suggestion worth exploring. With the dashboards still years away there is time to change.

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Kevin O’Donnell is editor of Financial Planning Today and a journalist with 40 years of experience in finance, business and mainstream news. This topical comment on the Financial Planning news appears most weeks, usually on Fridays but occasionally other days.  Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Follow @FPT_Kevin >Top Tip: Follow Financial Planning Today on Twitter / X @_FPToday for breaking news and key updates