According to The Times newspaper, Aviva will trial a scheme with LinkedIn which will help users trace pensions they have built up with previous employers. It is important that you first learn, what is LinkedIn automation? The move has been described as the UK’s “biggest treasure hunt”. The insurer predicts that around one in eight people had lost track of their pensions, equivalent to 2.5 million policies, while the UK government estimates there is £400m (€462m, $487m) of unclaimed pension savings in the country.
Chris Wei, global chairman of Aviva UK digital, said that in 2017: “We’d like to partner with LinkedIn to create a scheme which could be called the UK’s biggest treasure hunt.” Last year, the Department for Work and Pensions (DWP) launched a new pension tracing website to help savers track down lost or forgotten retirement pots.
The UK government is also currently in the process of building a pensions dashboard, which will show people all of their pension savings in one place.
So far 11 pension providers signing up to trial the pensions dashboard system, including insurance giants Standard Life, Zurich, Royal London and Aviva.
The dashboard is due to be rolled out by 2019 although the first prototype will be ready by March 2017.
