Pensions Dashboard Development

23 January 2018

The Pensions Dashboard project continues, now under the wing of the Department for Work and Pensions (DWP), instead of HM Treasury.

The Minister for Pensions and Financial Inclusion said in a speech at the Pensions Dashboard Development Day in December 2017, that the government is committed to making the pensions dashboard happen, and that the responsibility transferring to the DWP from HM Treasury makes sense, “we have responsibility for the legislation and the State Pension (a key component to any dashboard).”

Following the news that the DWP will take forward development of the Pensions Dashboard, Huw Evans, director general of the Association of British Insurers, said:

"I am delighted the Pensions Dashboard is being taken forward by the government and that the hard work of the ABI and our partners to deliver a prototype will now be continued. A pensions dashboard is vital to helping workers keep track of their pension savings as they move employment as well as helping them track down lost pension pots likely to be worth billions in total. The long-term savings industry will work closely with the government on the next steps to help make this scheme a success for customers."

Guy Opperman also said in his speech:

“Whether it’s the experiences of other countries or qualitative user research, there is growing evidence for some form of compulsion to bring about a complete dashboard in a reasonable timeframe. But there are different ways of approaching this – the Swedish example is an interesting one, where legislation was, in the end, not necessary.

The DWP feasibility study is looking into the detail of all this and we will explore the user perspective and the requirements and concerns among industry. If it is appropriate and necessary to legislate to bring schemes on board within a reasonable timeframe, we will do so.

It is time to bring pensions into the digital age.”


The ‘Pensions Dashboard Project’ published a paper in October 2017 ‘reconnecting people with their pensions; it’s ten recommendations for the Dashboard are as follows:

  1. All pension providers and schemes must make data available to consumers via regulated third parties, including occupational, personal and public service pension schemes. This compulsion requires a legislative change and a completion date stated by government
  2. DWP must make data about the State Pension available alongside private pension information from day one
  3. A non-commercial service, endorsed by the government, must be made available
  4. To enable innovation, the government must enable an “open pensions” infrastructure that allows consumers to access their data via regulated third parties
  5. Dashboards and any other third party services showing consumers their data must be regulated to ensure consistency. Consumer protection requires legislation to establish one or more new regulated activities, which are most likely to be overseen by the FCA
  6. There must be an implementation plan and timetable, endorsed by government and industry, including an approach to funding implementation and a major programme of communications
  7. An implementation entity must be charged with delivering the service and its governance. This will include establishing a governance body which oversees the network, establishes and manages data standards, data security, and data sharing agreements and which is sustainably funded
  8. Data must be made available in a standardised digitally consumable format. This needs agreed standards, which are being delivered by industry, but which must be mandated by government and regulators
  9. An infrastructure must be set up to link schemes to dashboard providers so that consumers can find their pensions. This requires the government’s backing
  10. An identity assurance scheme must be agreed. This requires a policy decision about the use of Verify in this context

To find out more about how the Pensions Dashboard will work, the Association of British Insurers (ABI) who are managing the Pensions Dashboard prototype project, has a Q&A on their website along with additional useful information.