Pensions dashboard delay

06 March 2023

It has been announced that there has been a delay in the implementation of the pensions dashboard, which will allow individuals to view information about their pensions, including state pension, in one place online.

The Pensions Dashboards Programme (PDP) was introduced in 2015 and was originally planned to launch in 2019. It was then pushed back until 31 August 2023 and now the deadline has been extended again due to technicalities. The provision of pensions dashboards will be a Financial Conduct Authority (FCA) regulated activity. Organisations wishing to become pensions dashboard providers will have to apply for FCA authorisation and adhere to FCA conduct rules.

Minister for pensions, Laura Trott said:

‘‘More time is needed to deliver this complex build, and for the pensions industry to help facilitate the successful connection of a wide range of different IT systems to the dashboards digital architecture.

Given these delays, I have initiated a reset of the Pensions Dashboards Programme in which DWP will play a full role. The new Chair of the Programme Board will develop a new plan for delivery.

We will ensure that the pensions industry has adequate time and the necessary technical information to prepare for any revised connection deadlines. I will provide a further update to the House before summer recess.’’

The postponement will impact pension savers, who may now have to rely on unclear pension year-end statements. This delay and no given firm timeline can also be disheartening and cause uncertainty for pension savers. However, the minister for pensions claims that people must not lose sight of the benefits of the dashboard, which will be a vital tool to help savers plan for retirement.

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