Dave Tonge, CTO
Our CTO Dave Tonge finds out from Moneyhub Pensions Strategy Advisor Richard Smith when pensions dashboards will launch and what pension providers should be doing now.
So Richard, when are dashboards happening and what should providers be doing right now to prepare?
The short answer is: they’re happening right now. Moneyhub is building the first dashboard functionality now, working as an alpha partner with the Government’s Pensions Dashboards Programme, or PDP.
We’re getting the new API connectivity working now with further information becoming available all the time as we move through the Summer of 2022.
PDP’s programme timeline then has a phase of larger scale testing from the Autumn of 2022.
https://www.pensionsdashboardsprogramme.org.uk/programme-timeline/
Then, from April 2023 – only a year away – pension schemes and providers will be required to connect their pensions data, enabling really extensive live testing of dashboards to happen.
Finally, once various acceptance testing criteria have been passed, Government will announce the launch of dashboards to the general public. This could be later in 2023 or in 2024, depending how the live testing goes. We’ll know more about the launch date once large scale live testing starts in Spring next year.
So still a little way off then?
Yes, launching pensions dashboards potentially in 2024 does sound a long way off, but there’s so much that providers need to be doing right now to get ready.
What are the top things pension providers should be doing now?
All pension schemes and providers must get their data ready so it’s fit for purpose when they connect from 2023 onwards. That’s a huge task for the pensions industry and needs to be underway now.
Providers need to be considering now if they want to offer their customers a dashboard, and if so, what their options are for doing that (including, of course, white labelling the Moneyhub dashboard).
That is a lot of work. I want to hear more about how pensions dashboards are actually going to operate, and how clients can simply white label the Moneyhub pensions dashboard. Let’s come back to you on this very soon.
Love to. In the meantime, to find out more sign up for our pension insights using the form below. Keep visiting as we’ll be publishing lots more detailed information about Moneyhub’s pensions dashboards product suite, and how clients can white label it.
