PASA has today published new Guidance to help schemes, providers and administrators monitor ongoing compliance with pensions dashboards requirements, alongside a new Dashboards Toolkit note covering the treatment of survivor benefits.
The publications were launched following PASA’s webinar introducing the industry to the new materials and their practical application.
Produced by PASA’s Dashboards Working Group, the Ongoing Monitoring of Compliance with Pensions Dashboards Requirements Guidance has been developed to support trustees, scheme managers, pension providers, administrators and connection providers as dashboards move from implementation into ongoing operation.
The Guidance focuses on the practical monitoring of compliance across three key areas of dashboards activity: matching, pension information provision and connection performance. It also considers the role of saver queries, complaints and feedback in identifying potential compliance issues and supporting continuous improvement.
The publication has been developed in collaboration with industry experts and reflects engagement with The Pensions Regulator, the Financial Conduct Authority and the Money and Pensions Service during its development.
Alongside the Guidance, PASA has also published a new Dashboards Toolkit note on Survivor Benefits. The note addresses industry questions regarding the application of survivor benefit indicators within dashboards value data and provides practical guidance to support consistent interpretation across schemes and providers.
Maurice Titley, Chair of PASA’s Dashboards Working Group and Commercial Director at Lumera, PASA Expert Partners for Dashboards said: “With dashboards moving from a delivery programme to an operational reality, maintaining compliance becomes an ongoing responsibility rather than a one-off project. While significant attention has rightly been given to connection readiness, schemes and providers now need practical ways to monitor how effectively they continue to meet their obligations once connected.
This Guidance has been designed to support those conversations. It brings together the key indicators schemes and providers may wish to monitor, helping trustees, administrators and their delivery partners develop effective oversight arrangements and identify potential issues at an early stage.
The Survivor Benefits Toolkit addresses one of several practical questions emerging as the industry prepares for widespread dashboards usage. By sharing a common interpretation of current guidance, we hope to support greater consistency across the industry and improve outcomes for savers.”
David Fairs, PASA Chair, added: “Pensions dashboards represent a major step forward in how savers engage with their pensions. As the industry moves into the next phase of delivery, attention is increasingly turning towards operational resilience, governance and member outcomes.”
Further additions to PASA’s Dashboards Toolkit series will be published in July, continuing its programme of practical guidance to support schemes and providers as dashboards adoption increases.
The Guidance and Toolkit are available to download from the PASA website, here & here.
