Commenting on the DWP’s pensions dashboard connection guidance, Karl Lidgley, Client Manager, Third Party Administration, Hymans Robertson, said:  

“It’s great to see the final dashboard connection guidance has now been issued by DWP, allowing the industry to move forward with some certainty into a delivery phase. There are still a few pieces in the jigsaw puzzle, but schemes now know when they are required to connect. We also expect PDP to issue the final data standards shortly, which will allow finalisation of builds into the required systems.

“Dashboards will deliver digitalisation on a new scale in the pensions industry and significantly improve accessibility to pensions information for consumers. Longer term, with commercial dashboards on the horizon, it will also support better consumer outcomes, allowing everyone to access their current pension savings regularly, and take positive action to improve their retirement outcomes in the future.”

“We need to help the DC generation save for a comfortable retirement. Connecting people with lost pensions, and helping them with a single view of all of their pension savings, is an important step along the way.”