Standards for pension providers and schemes have also been approved by the Secretary of State for Work and Pensions.

The firm warns that an increase in transfers will "lead to an increase in poorly informed pension transfer decisions".

This brings consumers’ choice of potential dashboards to 16.

Dashboards are expected to see wider industry connection from April 2025.

Users who have already registered to use government services through GOV.UK One Login will not have to prove their identity again when registering to use the dashboards service.

10 firms have now joined the Coalition to help support the launch of dashboards.

A range of factors, including rise in supplier costs and delivery timetable being extended by two years, have increased the programme’s estimated cost by 23%.

Volunteer participants will now begin connecting from August 2024.

The new coalition - combining Just Group, L&G, Moneyhub and Standard Life - has launched to support a successful launch.