As the third staging deadline for dashboard connections approaches on 30 June, more pension providers and administrators have announced that they are online with the project’s technology ecosystem.
By the end of this month, defined contribution (DC) master trusts and other auto-enrolment pension schemes with more than 1,000 members should be connected, according to the timetable set out by the Department for Work and Pensions last year.
Other private sector pension schemes with more than 5,000 members should also be connected by 30 June.
The next deadline is 31 August, by which point all private sector pension schemes with more than 2,500 members should be connected.
Earlier this week, Chris Curry, principal at the Pensions Dashboards Programme, told an industry conference that around 90% of all pension scheme memberships could be connected to PDP’s systems by the end of this year.
Dashboards work ‘not done yet’
LCP said today (20 June) that it had connected its first pensions administration client to the dashboards ecosystem, in line with the scheme’s ‘connect by’ date.
The company said it was “a significant milestone” – but also highlighted that there was more work to be done beyond connection.
“Schemes should be asking their providers now what processes and resources they are putting in place to deal with this, so any adverse impact on workloads and member experience can be avoided.”
Kate Brown, LCP
Kate Brown, a senior consultant at LCP, said: “It is widely expected that there will be a material increase in member queries once the MoneyHelper dashboard is launched, as well as potential queries from users involved in consumer testing.
“Schemes should be asking their providers now what processes and resources they are putting in place to deal with this, so any adverse impact on workloads and member experience can be avoided.”
LCP uses Pension Fusion to connect to the dashboards system, a service created by Equisoft and Lumera. In a separate announcement, Equisoft said Pension Fusion had helped 29 providers with their connections, covering 90 pension schemes, since it first facilitated the onboarding of the LifeSight master trust.
“We’re confident and ready to stage more schemes before the [final] October deadline in 2026,” said Nick Meredith, product director at Equisoft.
“As we move forward, we’ll continue to build on this momentum, ensuring that we are fully prepared for the upcoming MoneyHelper dashboard consumer testing.”
Testing of the government-backed MoneyHelper dashboard, operated by the Money and Pensions Service, is expected to begin this summer.
Annuity provider connects via Origo
Elsewhere, LV= announced its integration with the Origo Dashboard Connector, meaning it is now connected to the pensions dashboards ecosystem.
The individual annuity provider said the connection was a “significant achievement” for both firms.
“The ability for someone to access all their pension information in just a few clicks is nothing short of transformative, to help people make steps towards improving their financial resilience in retirement.”
Sarah Hills, LV=
Sarah Hills, wealth proposition director at LV=, said: “The ability for someone to access all their pension information in just a few clicks is nothing short of transformative, to help people make steps towards improving their financial resilience in retirement. It’s great to be in a position where we’re fully set for the pensions dashboard.
“Recent research from our Wealth and Wellbeing Programme revealed that over half (51%) of those who have spoken to a financial adviser say it made them feel more knowledgeable about their retirement. By integrating the pensions dashboard, it will make the process easier for advisers and their clients alike.”
Anthony Rafferty, Origo’s chief executive officer, added that his company was “more confident than ever that the dashboard will be a great success”.
