Legal & General taps Moneyhub for new pensions dashboard
UK-based financial services group Legal & General (L&G), which offers life insurance, pensions, retirement and investment services, has partnered with Bristol-headquartered data and payments firm Moneyhub to power its Qualifying PensionsDashboard Service.
Legal & General to leverage Moneyhub’s open finance tech
The collaboration will see L&G harness Moneyhub’s open finance technology for its new pensions dashboard, allowing members to “find and view all their pension data in one place”.
L&G states the solution will be able to “capture pension savings products across each member’s employment history as soon as the regulator permits it”.
The partnership advances L&G’s and Moneyhub’s efforts to support the launch of “effective pensions dashboards to consumers as early as possible”, with both firms having been involved in the UK government’s Pensions Dashboards Programme (PDP) since the Alpha testing phase.
L&G says the service will add to its “broader digital pensions ecosystem”, which also includes the company’s soon to be launched mobile app, which also utilises Moneyhub’s open finance tech.
The partnership is the latest development in the pair’s ongoing collaboration. Moneyhub previously secured £35 million in funding from L&G and Lloyds Banking Group in 2022.
Last year, L&G, managing £176 billion in defined contribution assets, extended its cloud migration partnership with Kyndryl for seven years. This extension aims to expedite L&G’s technology transformation and assist its transition to a multi-cloud environment.
