Chris Curry, Principal for the Pensions Dashboards Programme, calls for pensions industry feedback on standards consultation
There are just under 2 weeks left to respond to the Pensions Dashboards Programme (PDP) consultation on the standards designed to ensure the safety, security and effectiveness of pensions dashboards.
The consultation, which closes on 30 August 2022, sets out the technical and operational detail and the requirements for all pension providers and dashboards connecting to the ecosystem. The PDP is also carrying out a call for input on design standards, covering areas such as the layout of dashboards, the content available to users and the user journey.
Chris Curry, Principal for the PDP, said:
“With less than two weeks to go on our consultation, we are calling on the pensions industry to provide as much feedback as possible on the standards and supporting guidance. These standards provide the foundations for dashboards, and it is vital that they contribute everything needed to connect to the ecosystem securely.
Consultation responses can cover all or just one set of the standards, and all input will support finalising these important documents.
Partnership with the pensions industry will always be essential to the successful delivery of dashboards and it is vital that we hear from a broad range of voices.”
PDP will publish its consultation response and final standards documents in the winter. More information on the consultation and call for input, including how to respond, can be found here: https://www.pensionsdashboardsprogramme.org.uk/standards/
ENDS
Notes to editors:
The full list of the standards content is outlined below.
Standards and guidance:
Data standards – the data formatting requirements pension providers must follow when returning pensions data
Technical (and API) standards – the requirements for how pension providers and dashboard providers interface with the central digital architecture and with each other, including connectivity mechanisms, protocols for authorising the sharing of information, and the generation and registration of PeIs
Design standards – requirements for presentation of the pensions data on dashboards and design of the dashboards, including; messaging, signposting, onward customer journeys
Reporting standards – the data required from pensions dashboards and pension providers to monitor the health of the pensions dashboards ecosystem, compliance and performance
Early connection guidance – setting out when pension providers can apply for earlier connection to the pension ecosystem than their TPR provided connection date (including for pension providers with <100 relevant members)
Code of connection:
Security standards – the technical, procedural and physical, standards to ensure security of the ecosystem
Service standards – the minimum service requirements and required behaviour of participants, including; service availability and response times, software compliance, software interoperability, dealing with failed requests, connection state changes (including planned interruption to information technology systems) and when to notify PDP of personnel changes
Connection (including testing) guidance – the testing and assurance processes that participants need to undertake in order to connect to the ecosystem
Operational standards – the operational processes participants must follow to connect to the ecosystem and to maintain connection, including; onboarding procedures, dispute management and escalation, service level failure protocols and how frequently to check for newly registered pension identifiers or changes to the registration of existing ones
About PDP
The Money and Pensions Service (MaPS) has established the Pensions Dashboards Programme team, led by Principal Chris Curry, to design and implement the ecosystem that will make pensions dashboards work and which will enable individuals to view all their pensions data via their chosen dashboard. Pensions dashboards will enable individuals to access their pensions information online, securely and all in one place, thereby supporting better planning for retirement and growing financial wellbeing. Dashboards will provide clear and simple information about an individual’s multiple pension savings, including their State Pension. They will also help them to reconnect with any lost pension pots.
The Pensions Dashboards Programme has its own website where news, blogs and reports will be published regularly – pensionsdashboardsprogramme.org.uk/
MaPS’ role in developing pensions dashboards
Government has committed to facilitating the pensions industry to develop this initiative and have given specific responsibilities to the Money and Pensions Service (MaPS) which include:
- bringing together a programme team to lead the implementation of pensions dashboards
- appointing an industry steering group to set the strategic direction of the programme
- beginning work to create and run a non-commercial pensions dashboard – the MaPS dashboard
About the Money and Pensions Service
The Money and Pensions Service (MaPS) vision is: ‘everyone making the most of their money and pensions.’
MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP), and it has a joint commitment to provide access to the information and guidance people across the UK need, to make effective financial decisions over their lifetime. The organisation also engages with HM Treasury on policy matters relating to financial capability and debt advice.
MaPS brings together the free services previously delivered by the Money Advice Service, The Pensions Advisory Service and Pension Wise. MaPS offers customers guidance and appointments over the telephone, online and in person.
For further information visit the Money and Pensions Service website: www.moneyandpensionsservice.org.uk
Consumers can continue to access free guidance about their money and pensions via the following websites and help lines:
www.moneyadviceservice.org.uk / 0800 138 7777
www.pensionsadvisoryservice.org.uk / 0800 011 3797
www.pensionwise.gov.uk/en / 0800 138 3944