In October 2024 the government said it wanted to:
“Shape the pensions system to serve the interests of savers and future pensioners, ensuring decent, secure retirement incomes for all. As part of achieving that goal, we want to make it easier for people to understand their pensions information so they can better prepare for financial security in later life.“
A timetable was produced to facilitate the staged connection of different schemes to the pensions dashboard ecosystem. The Armed Forces Pension Schemes, together with all other public sector schemes, have a target deadline date of 31 October 2025.
What is a pensions dashboard?
A pensions dashboard is an online tool for people to access information about their pensions.
In the UK, these dashboards will show information about pensions from different providers and the State Pension in one place. They are not available yet.
Why is the government supporting pensions dashboards?
The government wants pensions dashboards to help people understand their pensions and plan for financial security in later life. Many people have multiple pensions, and dashboards would let them see all their pensions in one place.
Who will provide pensions dashboards?
The public sector and commercial providers are developing pensions dashboards.
In October 2024, the government said it was prioritising a non-commercial dashboard. The Money and Pensions Service, an arm’s-length body of the Department for Work and Pensions, is building the dashboard.
Who is developing pensions dashboards?
Commercial providers can develop their own pensions dashboards. All dashboards will connect to a single digital ecosystem. The Money and Pensions Service is creating the ecosystem through a Pensions Dashboards Programme. It is also building its own non-commercial dashboard.
The Pensions Regulator and Financial Conduct Authority will regulate pension schemes and providers sharing data with dashboards. The Financial Conduct Authority will also authorise and regulate pensions dashboard operators.
When will pensions dashboards be available?
In October 2024, the government said it was too early to confirm when dashboards will be available to the public. Legislation requires all pension schemes and providers to connect to the pensions dashboards ecosystem by 31 October 2026.
The House of Commons has since produced a Research Briefing paper which you can read here
Contains Parliamentary information licensed under the Open Parliament Licence v3.0.
