PDP to launch pensions dashboards standards consultation next week - Upsmag - Magazine News

PDP to launch pensions dashboards standards consultation next week

The Pensions Dashboards Program (PDP) has confirmed plans to launch a six-week consultation on dashboards standards from 19 July, alongside a call for input on the design standards.

The standards are expected to outline the technical and operational detail underpinning primary and secondary legislation, and the requirements for all pension providers and dashboards connecting to the ecosystem.

Alongside this, PDP has confirmed that it will also run a call for input on the design standards, which will set out requirements for presentation of the pensions data and design of the dashboards, including messaging, signposting and onward customer journeys.

A formal consultation on the design standards is then expected to follow in autumn.

The program will also further guidance and hosting a number of webinars to be publishing support to the consultation, including a session on connecting to the pensions dashboards ecosystem, and operating within the pensions dashboards ecosystem.

PDP principal, Chris Curry, commented: “These standards provide crucial detail to help industry prepare to connect to the dashboards ecosystem.

“Alongside the standards we will also be publishing supporting guidance and best practice, including data usage examples, to provide further clarity.

“We are running this consultation exercise to ensure that colleagues across the sector can share their views on our proposed content and to identify any further industry needs.”

PDP is expected to publish its consultation response and final standards documents in the winter.

The launch of the consultation is in line with PDP’s broader timeline, having recently confirmed that it had successfully tested an end-to-end version of the dashboard ecosystem, also connecting its first commercial pensions dashboard last month (June).

Focus on pensions dashboards preparation has also continued to grow in recent months, with The Pensions Regulator recently launching a campaign to remind trustees of their deadlines, and publishing new guidance on the draft regulations.

However, the Department for Work and Pensions recently confirmed the deadlines for the first two staging cohorts have been deferred by two months, with a consultation on the details for the dashboards availability point also still underway.

Interest in pensions dashboards nonetheless remains strong, according to industry research, with a survey from Aegon revealing that over three-quarters (77 per cent) of people with multiple pension pots think dashboards would be useful.

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