The Division for Work and Pensions has printed an up to date timetable for occupational pension schemes and private and stakeholder suppliers to be linked to the Pensions Dashboard.
Connections are as a consequence of begin in April 2025, giving the primary schemes to attach greater than a 12 months to make sure they’re prepared forward of the October 2026 deadline.
All 3,000 schemes can be legally required to be linked to the dashboard system by 31 October 2026 on the newest.
Paul Maynard, pensions minister, mentioned: “For the reason that reset was initiated final 12 months, the Pensions Dashboards Programme has made vital progress constructing and testing the system which is able to allow pensions dashboards to work.
“Topic to passable testing, the programme plans to start the method of connecting the organisations constructing a direct connection, together with DWP State Pension, from August 2024. Connection testing will then proceed to make sure readiness to assist wider trade connection from early 2025.”
He mentioned the staged timetable will assist clean the method of connecting the roughly 3,000 pension schemes and suppliers by the connection deadline.
He mentioned: “The timetable prioritises connection of the most important pension schemes and suppliers, in order that essential person testing can rapidly happen at scale, with the primary cohort anticipated to have accomplished connection by the top of April 2025.”
The most important schemes are anticipated to connect with the dashboard by 30 April 2025 with deadlines for additional schemes following month-to-month all year long.
Kate Smith, head of pensions at Aegon, mentioned: “We hope that each one schemes will comply with the steerage, to make sure connection is carried out in an orderly method avoiding ‘final minute’ connections and potential log jams. The pension dashboard programme and authorities might want to monitor this carefully.”
Anthony Rafferty, chief government of Origo, mentioned: “The pensions minister’s announcement creates renewed emphasis for pension suppliers to have their information preparation underway and their answer for connection to the PDP central structure chosen or upfront phases of being deliberate.”
He mentioned the trade is predicted to obtain hundreds of thousands of requests for pensions information when dashboards are absolutely stay. “Suppliers due to this fact must be ‘dashboard prepared’, with a sturdy and scalable service which may securely and compliantly deal with their pension dashboard processing necessities.”
Jonathan Hawkins, proposition lead, Bravura, mentioned: “Having confirmed dates to work in direction of is strictly what the trade wants and can assist in direction of firmly placing the PDP again to the highest of the company agenda following the lengthy reset interval.”
Rocio Concha, Which? director of coverage and advocacy, mentioned: “The timeframes set out are clear and there might be no additional delay to the implementation of dashboards, which has already taken far too lengthy. The federal government and trade should now work collectively to introduce dashboards as quickly as doable.”
See the complete staged timetable right here
