Pensions Dashboards update #7

Our Pensions Dashboards updates bring you key developments in the Pensions Dashboards Programme (PDP), covering the regulatory landscape, connectivity pathway, trustee responsibilities and data readiness. 

This seventh update includes progress from BW and our Integrated Service Provider, recent guidance from the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR), and a reminder of the actions needed to support timely connection.

What’s new in this update?

• Finalised Pensions Dashboards standards, removing uncertainty over requirements.
• A new process for changing your ‘connect by’ date if needed.
• A reminder of BW’s readiness status and what schemes must deliver.
• Updates on registration codes, governance documents and data cleansing.
• Guidance on Additional Voluntary Contribution (AVC) provider integration and out-of-scope schemes.

Read the full update.
 

Key highlights from the briefing

Finalised PDP standards

The data, technical, reporting standards and code of connection have now been approved – good news for schemes progressing with implementation. Further changes are expected to be minimal.

Changing your connect by date

The DWP’s staged connection timetable offers a degree of flexibility. If your scheme needs to connect outside its allocated window, there is now a formal PDP process in place, including an online notification form. We summarise what’s required.

BW’s connection progress

BW has now successfully connected our first two schemes to the Pensions Dashboards ecosystem using Equisoft’s certified Pension Fusion platform. All system connectivity activities have been completed and management information reporting functionality is in development.

Scheme readiness actions

Schemes administered by BW need to complete several deliverables ahead of their connect by date, including contractual agreements, data cleansing based on Find and View data reports, and review of privacy notices. These are all detailed in the full briefing.

AVC provider responsibilities

AVC arrangements must also be included in a member’s dashboard data. Our update explains the ‘Single Source’ and ‘Multiple Source’ connection routes and what trustees need to consider when coordinating with AVC providers.

What about smaller schemes?

Schemes with fewer than 100 relevant members are currently out of scope – but trustees may still wish to join voluntarily. This update sets out scenarios where early participation could reduce confusion and improve the member experience.
 

Need help?

If you have questions or have not yet received your scheme’s documentation, Find/View data reports, or contractual agreements, please contact your usual BW client representative.

Click an option below to download our latest Pensions Dashboards update.