Expert view: Preparing for pension dashboards
Pensions dashboards will, for the first time, allow employees to access all their pensions information, including their state pension, online in one place.
While dashboards have been several years in the making, the largest pension schemes have now started to connect to the dashboard ecosystem.
Others will follow, in line with a staged timetable, ahead of an overall statutory connection deadline of 31 October 2026.
When will the public be able to use dashboards?
The October 2026 connection deadline for pension schemes to be ready to send data through the dashboards ecosystem is not the same as the date the public will be able to log-on and see their pensions – that date is known as the “dashboards available point” or DAP.
Initially, there will be one dashboard, a non-commercial dashboard run by MoneyHelper.
There is a framework in place for private sector dashboards to be set up by FCA-regulated entities in due course, but the government is prioritising the MoneyHelper dashboard.
We don’t yet know when the MoneyHelper dashboard will go live.
This will depend on a variety of factors including whether the service is “safe, secure and reliable” , according to the progress report from the UK Pensions Dashboards Programme .
However, if connection and testing goes well, it’s possible that the go live date could be brought forward.
Regardless of the live date, the Money and Pensions Service (MaPs), which has overall responsibility for delivering dashboards, will need to provide sufficient notice of the date to allow everyone time to prepare.
What should employers be doing now?
Preparing for dashboards is a significant undertaking for the pensions industry, but it’s for providers and pension scheme trustees to ensure their schemes are ready to share pensions data, rather than employers.
Employers will still have a role to play, particularly when it comes to data.
Providers and scheme trustees will need to make sure their data is of sufficient quality and accuracy. This is so they can correctly “match” an individual to their pension pot and provide them with the correct information about their scheme benefits.
As they carry out any data improvement work, providers and trustees may require further detail, and employers need to be ready and willing to assist.
What should employers be doing as the go live date approaches?
It is hoped that dashboards will increase public engagement with pensions as well as reuniting people with ‘lost’ pension pots.
The government currently intends to publicise the benefits of pensions dashboards ahead of the go live date.
This publicity may lead to enquiries from employees asking employers about their pensions offering and contribution levels, even before they have been able to log-on to a dashboard. Employers should ensure they have the capacity and knowledge internally to be able to answer these questions.
Other employers may want to take things a step further and proactively raise awareness of pension benefits they offer staff as the go live date approaches, linking in with their pension provider or pension scheme trustees to give employees a consistent message.
In a world where there seems to be ever-more financial decisions to make, the hope is that dashboards will make life simpler for employees.
The more employers can support dashboards preparation, the more successful dashboards can be.
