About
In our ever changing pension landscape, the introduction of the Pensions Dashboard is at the heart of the strategy to increase engagement with pensions and to put scheme members in the position where they can easily identify all their pension benefits and plan their income for retirement.
For the dashboard to be successful however, not only do we need technology solutions but also for administrators to work with dashboard providers to make data available and for that data to be of good quality.
At PASA we recognise the importance of the role that third party administrators, software suppliers and in house schemes have in the delivery of the pensions dashboard and believe we are uniquely placed to provide help, input and thought leadership to this initiative especially in relation to defined benefit schemes.
The PDWG was established to work with the Money and Pensions Service (MaPS) and other stakeholders as they develop the Dashboard solution.
The PDWG focused initially on the data required for the Pensions Dashboard in respect of both identifying the member and the data that is then visible to them. This led to the set up of separate Data Working Group and Data Guidance.
The breadth and depth of PASA membership, knowledge and expertise means that we believe we are well placed to provide support to MaPS in relation to the administrative requirements in relation to the introduction of dashboard.
The objective of the Pensions Dashboard Working Group is to provide support and input to MaPS on the following aspects of the implementation of the Pensions Dashboard:
1. Data including:
- Minimum requirements to access the Dashboard
- Optimal criteria
- False positives and false negatives
- Minimum data requirements for dashboard
- Legacy data issues
- Interaction with the Pension Regulator’s existing record keeping standards
- Preparatory data work
2. Benefit projections (valuations)
- Data requirements
- Consistency of language
3. Administrative issues
- Interaction with existing provider web offerings
- Untraceable members
- Existing contract terms
4. Governance
- Interaction with Trustees
- Management of costs
- Administrator best practice
Publications
April 2022 FCA Consultation – Pensions dashboards: proposed rules for pension providers CP22/3***
March 2022 DWP consultation on draft Pensions Dashboards Regulations 2022
December 2021 – PASA Data Matching Convention Call to Action
December 2021 – PASA Data Matching Convention Guidance
Pensions Dashboard Programme – Call for Input on Staging PASA Response July 2021
‘Safe, simple and soon: Why PASA is calling for ‘pensions find’ to be initial focus of dashboards rollout’ – Professional Pensions opinion piece, June 2021.
Pensions Dashboards Programme – Identity Call for Input April 2021
What can I do now? – one page March 2021
How to start getting ready for pension Dashboards – March 2021
PASA Dashboard WG Update November 2020
Pensions Dashboard Programme Data Standards Call for Input – August 2020
Members
Kim Gubler (Board Sponsor)
Maurice Titley (Co-chair)
Emma Barry
Simon Rawson
Angela Bell (TPR Observer)