Thanks to the partnership, L&G will be able to "find and view all their pension data in one place" with its new pensions dashboard, which will make use of Moneyhub's open finance platform.

According to L&G, "as soon as the regulator permits it, the solution can capture pension savings products across each member's employment history."

Having participated in the UK government's Pensions Dashboards Programme (PDP) from the Alpha testing phase, the cooperation promotes L&G's and Moneyhub's efforts to enable the deployment of "effective pensions dashboards to consumers as early as possible."

The service, according to L&G, will expand its "broader digital pensions ecosystem," which also includes the business's upcoming mobile app, which makes use of Moneyhub's open financial technology.

The alliance represents the most recent phase of the two's continuous cooperation. Moneyhub previously got £35 million in investment from L&G and Lloyds Banking Group in 2022.

In the previous year, L&G, which oversees £176 billion in defined contribution assets, decided to extend its seven-year cloud migration partnership with Kyndryl. The purpose of this expansion is to help L&G move to a multi-cloud environment and accelerate its technological transformation.