The Association of British Insurers and National Employment Savings Trust have joined forces to put pressure on the government to advance the pension dashboard project.
ABI and Nest have formed a “formal partnership” on “shared strategies goals”. The new partners had consulted before on issues, that concerned them both.
The two partners will work on issues, where their policy directions are intervened – such as a shared policy goal.
The new partners have not set up any concrete plans, but hope that teaming up will amplify their voice.
In the case of pension dashboards, the companies say their shared goal is strengthening numbers and keeping pressure on the government.
ABI says the partnership is similar to the one it has with flood reinsurance scheme FloodRe.
Commenting on the partnership, Nest’s director of strategy Zoe Alexander, says: “We’ve worked closely with the ABI and their members for a number of years. Now we are formalising our partnership in a way that will open up new opportunities for us.”