- Partnership Announcement: UK-based Legal & General (L&G) has partnered with Moneyhub, a data and payments firm, to leverage Moneyhub’s open finance technology for its new pensions dashboard.
- Purpose of the Collaboration: The partnership aims to provide L&G members with a comprehensive view of their pension data in one place. The dashboard will capture pension savings across a member’s employment history, pending regulatory approval.
- Support for Pensions Dashboards Programme: L&G and Moneyhub are actively involved in the UK government’s Pensions Dashboards Programme (PDP) and aim to launch effective pensions dashboards to consumers as soon as possible.
- Integration with L&G’s Digital Ecosystem: The new service will enhance L&G’s digital pensions ecosystem, which includes a forthcoming mobile app also utilizing Moneyhub’s technology.
- Previous Collaboration: The partnership builds on a previous collaboration where Moneyhub secured £35 million in funding from L&G and Lloyds Banking Group in 2022.
- Cloud Migration Partnership: In addition, L&G extended its cloud migration partnership with Kyndryl for seven years, to accelerate its technology transformation and transition to a multi-cloud environment.
- L&G Overview: Legal & General is a financial services group offering life insurance, pensions, retirement, and investment services, managing £176 billion in defined contribution assets.
Legal & General taps Moneyhub for new pensions dashboard
