All of your pension information in one trusted place

Transcription

1 All of your pension information in one trusted place

2 provides an alternative to the big insurance companies and pension providers who are building their own commercial dashboards, but who cannot provide the independent, objective and trusted viewpoint that many consumers, advisory bodies and independent financial advisors want.

3 Our why

4 The challenge People are living longer and not saving enough for their retirement. This leads to financial insecurity later in life and a 300bn savings gap in the UK. What is the issue? Pensions are complicated and the subject matter is daunting for consumers and the industry has a trust problem How does it make consumers feel? Consumers feel overwhelmed by the complexity of the choices available to them. This leads to a lack of engagement Why is it that a problem? Consumers have difficulty planning for their financial future

5 How we ve got here Pot follows member Industry initiative e.g. LV Pension Passport OIX Pension finder project ABI pension dashboard DWP Feasibility Study

6 Our Our approach solution We believe in the power of data and visualisation to help people make better decisions. My Pension seeks to empower people through an experience that is: Dynamic Visual Integrated Mobile My Pension will enable consumers to simulate and explore their different retirement scenarios We don t use jargon but focus on visual techniques to explain key concepts We believe in seamless delivery of services so we will work to integrate My Pension with other service offerings Our solution will deliver a great experience on any device so people can engage with their pension whenever it suits them

7 How will we help? We will provide an independent, trusted service, that makes it easy for consumers to find out about all of their pensions, and to get the support they need Independent Trusted and secure Easy to understand Supportive Integrated We are not affiliated with any commercial pension providers, so we can provide objective, independent information Secure data protection technology ensures that users know their data is protected My Pension provides a simple user experience, helping to breakdown the complex nature of pensions Supports and informs members to help themselves make more informed choices Allows users to take control and empowers them to integrate with other services

8 What value will we deliver? We help people to feel more confident and empowered when they re discussing and planning their retirement options. Enabling younger people and those who have autoenrolled to engage with their pensions earlier, more easily, and more regularly Reducing the burden on advisory and guidance bodies, helping them to deliver advice and guidance more quickly and efficiently Engaging those who are harder to reach, including those with accessibility or assistive technology needs

9 Who are we?

10 A diverse founding team Ben Leonard founded META in 2017 to help people help themselves. META s mission is to accelerate how personal data is used to empower people. Prior to META, Ben led the UK Financial Services team at HSBC supporting clients of the bank on strategy, operational change and capital raising. Ben also played a core role in HSBC's involvement in the Pension Dashboard project and more generally, he is focused on financial inclusion and social impact. Rob Gardner s dream is to transform people s financial futures from hoping for the best to knowing what to do. He believes we can achieve this by focusing on education and collaboration, which is why he wrote the childrens book "Save Your Acorns" and co-founded pensions consultancy Redington and independent charity RedSTART. Rob chairs the Children s Savings Policy Council for the Tax Incentivised Savings Association (TISA) and is a trustee of the FairLife Foundation. Andy Kirby is a successful financial adviser with years of experience helping clients make better decisions about their retirement planning. Andy is a passionate believer that giving consumers better information which they can trust will help them take greater responsibility and make better financial decisions. He is CEO of Money Alive, a Fintech educational business, which he founded so he could help more consumers make better financial decisions. Jinesh Patel will be the project lead for My Pension. He works with Rob at Redington and plays a key role in helping achieve the firm s mission: to help 100m people become financially secure. Jinesh is a DC expert and advises employers, trustees and IGCs on a variety of DC issues with a key focus of helping members receive value for money. Ian Beestin is an expert in Financial Services marketing and communications. He is a founding director of Money Alive a company that creates accredited educational videos which aim to engage, educate and empower consumers to make better decisions about their pensions. Previously he was Marketing Director of Tilney Investment Management, CEO of Tilney Collective Management, and a founding director of The ISA Shop. Shaun Gomm is a director of User Experience design and development company, Sigma. His background is in consulting and managing digital projects for leading public, private and third sector organisations. He has been an integral part of the Sigma team that has designed, built and continues to work on Minpension, the Swedish pensions portal. Shaun and Ian were part of the winning team at HM Treasury s recent Pensions Dashboard TechSprint.

11 Fully engaged with stakeholders Financial Services Companies Government & Regulators Public Guidance & Consumer Bodies

12 What s next?

13 We have We are A solid understanding of the UK pensions market and consumer needs A track record in designing, building and supporting a comparable product Minpension.se in the Swedish market A well developed network of influencers and supporters Designed a user-centred Proof of Concept prototype of the product Continuing to engage with industry stakeholders (DWP, MAS, TPAS, ABI, etc.) around how best to deliver the dashboard Researching with potential end users to discuss how a dashboard would impact their behaviour (and empower them) Exploring commercial opportunities for the business given the broader application of the dashboard to the industry

14 Our commercial model Free at the point of access for consumers Commercial offering for the industry and other parties We will not make money from selling personal data or from product commissions

15 Our timeline Discovery Alpha Beta 2017 H H H2 Consortium formation Consumer insights Branding and POC prototype Stakeholder engagement MVP funding User engagement Functional / technical specification Extend prototype Commercial viability Design and build MVP Beta testing Funding Commercial contracts Build team to run business Develop launch plan

16 All of your pension information in one, trusted place