Pension Dashboard  

'Ambitious' dashboards integration to take until 2025

Possible delays to timeline?

Despite announcing the staging details, the PDP call for input did not include a due date by when all schemes will be sharing data with the dashboards ecosystem.

Philp noted that “while it makes sense for smaller schemes to stage later, we need to ensure that there isn't undue delay in delivering comprehensive coverage if the dashboard is to achieve its potential”.

Nigel Peaple, director of policy and advocacy at the Pensions and Lifetime Savings Association, is expecting some data to be available to savers “perhaps in 2024 or 2025”.

However, given the complexity of the task, “and the fact that we do not yet have complete certainty about the data requirements, it is today too early to assess whether this timeline is achievable,” he said.

Peaple added: “Whatever the final timescale for connection agreed upon, it is imperative that nothing is done to put at risk the pension savings of scheme members. It is better to do it right, than do it quickly.”

Consultation to inform new legislation

DWP will be launching a consultation on pensions dashboards’ draft regulations, which will include rules on staging.

PDP stated that the feedback from the call for input, which closed on July 9, will help inform policy development ahead of the new legislation.

Guy Opperman, minister for pensions and financial inclusion, said: “Making dashboards available to people at the earliest opportunity is a key part of our strategy to get people more informed about and involved with their pensions savings.

“So I would encourage anyone with an interest in dashboards to feed in their views on the programme’s emerging proposals for how and when we bring pension schemes on board from 2023.”

maria.espadinha@ft.com

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