Pensions dashboard development is being driven by the introduction of the Pensions Dashboards Programme (PDP) Data and Design Standards. These guidelines aim to create a unified and user-friendly ecosystem for individuals to access and manage their pension information. For businesses involved in designing a pensions dashboard, understanding the impact of these standards and ensuring compliance can be a complex task. In this post, we will explore the PDP Data and Design Standards, their implications for dashboard design, and why outsourcing to a technical services provider like Moneyhub can be a smart move.
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PDP Data and Design Standards: An Overview
The PDP Data and Design Standards are interrelated guidelines that focus on creating a consistent, secure, and user-friendly experience for individuals accessing their pension information through a dashboard. While the PDP Data Standards concentrate on the presentation and display of pension data, the PDP Design Standards address the technical, operational, and user experience aspects of pension dashboards.
PDP Data Standards
Aimed at ensuring a uniform presence of information within Pensions Dashboards, The Data standards provide exact details on all data that can be provided by pensions providers.
Including tables to help work out the myriad of scenarios that could be returned, The data standards are incredibly detailed and thorough.
The PDP Data Standards establish requirements for presenting and displaying pension information on dashboards, to ensure that users can easily understand and compare their pension data across different providers.
Key aspects include:
Standardising data elements, such as pension type, pension value, and retirement age
Data Exchange: Defining the structure, format, and protocols for exchanging pension data between providers, dashboard operators, and end-users
Defining the format and structure of data to be displayed on the dashboard
Ensuring consistency in the language and terminology used to describe pension information
PDP Design Standards
Concerned with comprehension, the design standards outline how Pensions Dashboards should display the information available.
From mandatory pieces of text, to guidelines on content that can add value, the standards are comprehensive.
The Design Standards provide a framework for developing pension dashboards that are secure, accessible, and user-friendly. They cover various aspects of dashboard design, including:
Identity Verification: Ensuring consistent handover for central identification and authentication of users through secure methods
User Experience: Establishing best practices for designing and delivering a consistent and user-friendly pension dashboard experience
Security and Privacy: Implementing robust security measures and adhering to privacy regulations to protect users' personal and pension data
The Impact of PDP Data and Design Standards on Dashboards Design
Designing a pensions dashboard that complies with the Data and Design Standards can be a complex process, as it requires a deep understanding of the requirements and their implications for the design and development process. Some of the challenges businesses may face include:
Ensuring consistency in the presentation and display of pension data across different providers
Designing an accessible and user-friendly dashboard interface that caters to a wide range of users, including those with disabilities
Integrating robust security measures and adhering to privacy regulations to protect users' personal and pension data
Collaborating with pension providers and dashboard operators to establish seamless data exchange processes
How you can tackle compliance with the Data and Design Standards
Given the complexities and challenges associated with designing a pensions dashboard that complies with the PDP Data and Design Standards, outsourcing the design and development process to a Technical Services Provider like Moneyhub can be a smart move for businesses. Here are some key reasons why:
Tried and tested: We are already undertaking extensive usability research with real people, to assess and respond to how they interact with and understand the dashboard interface, ensuring a consistent and seamless experience for users.
Expert team: We are an Alpha Partner to the Pensions Dashboards Programme, and members of our team are members of the PDP Steering Group and have even contributed towards the development of the standards.
Efficiency: Outsourcing the design and development process to Moneyhub can result in a more streamlined, efficient, and cost-effective approach, as we already has the infrastructure, knowledge, and resources in place to ensure compliance with the PDP Data and Design Standards, and get you to market quicker.
Security and compliance: Our experience in the financial services industry enables us to implement robust security measures and adhere to privacy regulations, ensuring the protection of users' personal and pension data.