New Pensions Dashboard coalition launched by providers
Four potential operators of Pensions Dashboards - Just Group, Legal & General, Moneyhub and Standard Life - have set up a new industry coalition known as the Dashboard Operators Coalition (DOC).
Members plan to collaborate with each other, with government and with regulators, to support the launch of effective dashboards to consumers as early as possible.
However, the DWP said last year it will be expecting a certain portion of the industry to connect to the dashboard before the deadline. The approach will potentially allow the 'Dashboards Available Point' (when the public gains access to the dashboards) to be realised sooner than 2026, it said.
The DOC has been set up following new Treasury enabling legislation that came into force earlier this month which made, “Operating a pensions dashboard service” a new FCA-regulated activity.
Independent Dashboards Consultant Richard Smith is leading the initiative. He led the development of the PDP Data Standards for dashboards in 2019/20 and is currently actively supporting the PLSA, PASA and Moneyhub on dashboards.
He said: "Launching dashboards is a highly challenging endeavour but the key to getting them done is very close collaboration, both across the industry and also between industry and government.”
He pointed out that the Pensions Administration Standards Association (PASA) has been working closely with the government’s Pensions Dashboards Programme (PDP).
“Now, for the ‘front-end’ consumer experience of dashboards themselves, there needs to be an equivalent industry coalition, where dashboard operators can come together to share their questions, ideas and feedback to develop and maintain best practice for operating dashboards,” he said.
Chris Curry, principal of the Money & Pensions Service Pensions Dashboards programme, said: “The theme running throughout the delivery of pensions dashboards is that we’ll make a success of them by working together. The Pensions Dashboards Programme welcomes initiatives that foster greater collaboration between industry, regulators and government.
“The development of dashboards will be a crucial step to giving people the tools to enhance engagement with their pensions, and we’ll continue to work closely with all organisations looking to become dashboard providers.”
Organisations interested in joining the Dashboard Operators Coalition (DOC) should contact This email address is being protected from spambots. You need JavaScript enabled to view it..