Glossary

This glossary is intended to help you understand some of the most common terms used by the Pensions Dashboards Programme.

TermsDefinition
accruing benefitswhen a pension is being built up
active memberan individual who is still contributing to, or building up benefits in a pension, often one set up by their employer
architecture procurementthe process of sourcing and contracting a supplier or suppliers of the technical digital architecture, including the pension finder service, consent and authorisation service and governance register
architecture scaling and performance testingin phase three of the programme, this testing ensures that the architecture can support the anticipated volume of digital traffic, while still maintaining an acceptable level of service. Testing will demonstrate that the architecture can both increase and decrease capacity in reaction to demand
APIapplication programming interface – a set of programming code, which allows one software platform to interact with another
ASauthorisation server – the software that manages the authorisation process within the ecosystem
asserted datadata provided by an individual at the find stage of using a pensions dashboard, which the identity service verifies before sending it to pension providers
benefit crystallisation event (BCE)a benefit crystallisation event occurs when an individual takes part, or all, of a pension. This might be as a lump sum or income (eg in a defined benefit scheme, a pension in payment or in a defined contribution scheme, where the pension has been annuitised or is in drawdown). It is defined by HMRC
cash balance schemesa defined contribution occupational pension scheme, where benefit is not just determined by investment returns and an individual’s (and sometimes their employer’s) contributions, eg there may be a promised pension pot conversion rate
COBSthe Financial Conduct Authority (FCA)’s Conduct of business sourcebook
combined DCwhen an individual has more than one DC pension in an arrangement and a provider combines all of the pot values / income forecasts into one pot or income forecast
compliancethe process of supporting pension providers to prepare for their legal duties to supply pensions information to the requisite standards and timetable; the process of monitoring that provision; and the process of enforcement should they not meet their obligations
compulsionto require in law that pension providers make an individual’s data available to them via their chosen dashboard
compulsory onboardingbeginning in programme phase four, data providers will be compelled to connect to the ecosystem and make members’ pensions information available via dashboards in the order determined by the DWP regulations consistent with PDP standards
consent and authorisation servicepart of the digital architecture within the ecosystem. It initiates user identity authentication and manages user consents and permissions.
It will also enable the user to give and manage delegated access to others, such as financial advisers and MaPS guidance specialists
consent UIconsent user interface – this is what individuals use to interact with the ecosystem when they provide their consent and authorisation to find their pensions
contract-based schemescontract-based schemes offer individual contracts between the member and the pension provider. The pension provider is often an insurance company or an investment platform. These include individual or group personal pensions (both standard and self-invested) and are regulated by the FCA
COTScommercial-of-the-shelf – refers to packaged solutions that can be adapted to purchasers’ needs. It is the opposite of bespoke, when something is created from scratch to satisfy specific requirements
dashboards available point (DAP)the dashboards available point is the point at which it will be reasonable to make pensions dashboards available to all members of the public, meeting the first dashboards goal (“to connect people with all their pensions”) for most individuals
dashboard providersthe organisations that will develop front-end dashboards to connect to the PDP ecosystem. The Money and Pensions Service (MaPS) is required by the government to create a front-end dashboard and we anticipate that other organisations (authorised by the FCA) will also create dashboards
dashboard design standardsprovides parameters for dashboard providers around how they must present functional elements of their dashboards
dashboard technical standardsprovides the necessary information to dashboard providers to ensure their product will work effectively within the ecosystem
data providersthe organisations that provide data to dashboards. This includes pension providers, schemes, trusts, third-party-administrators and integrated service providers (ISPs) as well as the DWP, which provides State Pension data
data standardsthe pensions dashboards data standards will comprise of a set of data elements, which define:

– the individual attributes that will be shared about a verified identity to enable pension records to be searched for a match

– which elements of an individual’s pensions information must be supplied by pension providers for display to the individual (or their delegate) via a pensions dashboard
deferred memberan individual who is no longer an active member of a scheme – normally because they have left employment with the employer that set up that particular pension scheme
defined benefit (DB) schemea pension scheme arranged through a workplace that provides retirement benefits, which are based on the individual’s earnings and the length of time that they have been a member of the scheme
defined contribution (DC) schemea pension scheme arranged that provides retirement benefits, which are based on how much the individual (and sometimes their employer) puts into the scheme, plus the return on those investments. Also known as a money purchase scheme
digital architecturethe digital architecture is the central elements that make dashboards work. It includes the ecosystem components that PDP is responsible for delivering: the pensions finder service, consent and authorisation service, identity service and a governance register
disclosure obligationsinformation that pension providers are required to supply to individuals by law
disclosure regulationssecondary legislation containing most of the disclosure obligations for occupational pensions schemes (The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 SI 2013/2734)
DOBdate of birth
DPAData Protection Act 2018
DWGPensions Dashboards Programme Data Working Group
DWPDepartment for Work and Pensions
early onboardingconnection of data providers to the ecosystem before their staging date
ecosystemmultiple parties, technical services and governance need to be connected in what we are referring to as an ecosystem. This is made up of: the supporting digital architecture, which allows dashboards to work; the dashboards themselves that individuals interact with; pension providers’ find and view interfaces; the governance register, which monitors the whole ecosystem’s operations
ecosystem governance frameworkthe ecosystem governance framework sets out how the technical components will work together with dashboards and pension providers. This includes all the associated technical connections and their operation in a live environment.
The framework will include data, technical, security and performance standards as well as design, accessibility, and user experience standards that dashboards must meet to be connected to the digital architecture
ESGenvironmental, social and governance issues
estimated retirement incomean estimate of the income that an individual pension may provide at a date in the future
FCAFinancial Conduct Authority
FCA-regulated pensionsstakeholder and personal pensions (including individual – both standard and self-invested – and group personal pensions) offered by FCA-regulated providers
FCA-regulated pension providersFCA authorised firms that hold the regulatory permission(s) to establish, operate and wind up personal and/or stakeholder pensions
final salarya type of defined benefit, calculated using the individual’s annual salary (or salaries) at, or close to, the pension provider’s normal retirement date
find datathe information pension providers will receive from the pensions dashboards ecosystem, elements of which they will need to use, to match people to their pensions. It includes elements such as name, address, date of birth. More information is available related to find data in our data standards
governance registerthe governance register is a technical service that provides assurances that the different elements of the ecosystem (dashboards, identity services, pension finder service (PFS) and connections to pension schemes) meet the required standards to participate. It ensures that all these elements operate correctly and securely and allows access to be revoked if any party is found to be operating incorrectly, for example by misusing data. It will also enable compliance and monitoring of the system as a whole
identity servicethe Pensions Dashboards Programme will need to agree a standardised level of identity verification which set the levels of assurance required in line with the National Cyber Security Centre’s Good Practice Guide 45.
The identity service allows users to authenticate themselves (prove they are who they say they are) so that they can access other elements of the ecosystem. It provides the verification required to assure data providers that they are returning data to the correct user and no one else
identity service procurementthe process of sourcing and contracting a supplier or suppliers of the identity service
individualspeople who can use one of the dashboards to find and view their pensions
industrythe wider pensions industry who may be involved in dashboards in different ways. This includes private and public sector pension schemes of all types, financial technology firms, third party administrators, independent financial advisers, insurers and employee benefits platforms, among others. Other interested parties include banks, employers, consumer representative bodies and the voluntary sector
integrated service provider (ISP)a third party service allowing pensions information to be connected to the dashboards ecosystem on behalf of pension providers
interoperabilitythe ability of organisations to interact towards mutually beneficial goals, involving the sharing of information and knowledge between these organisations, through the business processes they support, by means of the exchange of data between their ICT systems
ISOInternational Organization for Standardization
liability modelthe steps the PDP is taking to ensure dashboard users, dashboards, the digital architecture and pension providers are all clear what happens if things go wrong. It sets out the protocols for how individual complaints are made, assessed and dealt with. It will also cover how liability is shared between ecosystem participants
MaPS dashboardthe Money and Pensions Service will develop a pensions dashboard (the MaPS dashboard) as part of its function to provide information and guidance on pensions
master trusta master trust is a form of occupational pension scheme, which provides benefits to employees of multiple, unconnected employers. They are authorised and supervised by TPR
matchwhen a pension provider is able to find an individual’s pension record, using the find data
memberan individual who has benefits under a pension arrangement
NINONational Insurance number
OAuth2.0the industry standard protocol for authorisation. It allows users to securely access information that is controlled by someone else.
Within the ecosystem, it allows users to access pensions information from pension providers via dashboards
occupational pension schemesa pension scheme used by an employer for its employees and regulated by TPR. It is sometimes called a company pension scheme. The following are all occupational pension schemes:
– master trusts
– private defined benefit pensions
– public sector defined benefit pensions
– single employer defined contribution pensions
– executive pensions
OIDCopen ID connect – an identity layer, which sits on top of the OAuth 2.0 protocol. It allows users to securely sign in to an application
PATprotection API token – a long-lived authorisation token, representing a user’s consent at the consent and authorisation service. It is part of the UMA authorisation process and identifies the correct authorisation server to pension providers’ resource servers
PCTpersisted claims token – part of the UMA authorisation process. A persisted claims token holds on to permissions collected during one authorisation process, so that users can access the system easily in the future without having to provide the same permissions again
PeIencoded pension identifier token for secure access. The PeI is an identifier to the found pension. It does not contain any information about the individual or the pension itself
pension arrangementthe pensions vehicle, within which the member has benefits
pensions dashboardspensions dashboards are the public facing user interfaces that will enable individuals to access their pensions information online, securely and all in one place, thereby supporting better planning for retirement. 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
Pensions Dashboards Programme (PDP)the Pensions Dashboards Programme (formerly known as the Industry Delivery Group) was set up by the Money and Pensions Service (MaPS) and is responsible for developing the pensions dashboards digital architecture which will enable individuals to view all their pensions data via their chosen dashboard within a secure ecosystem.
The PDP will not be responsible for developing a front-end dashboard
pensions dashboards ecosystemsee ecosystem above
pension finder service (PFS)the pension finder service is a piece of technology that sends out an instruction to all pension providers to search for a user’s pensions. If a match is found, the location where the data can be found is returned to the user’s chosen dashboard along with a PeI, which allows that dashboard to access the data and display it to the user
pension protection funda compensation fund, which can pay out when the sponsoring employer of a DB scheme is insolvent and when the scheme’s benefits would otherwise have to be reduced
pension providerspension providers is an umbrella term for organisations that offer pensions within the UK. This includes:
– occupational pension schemes, regulated by TPR
– personal and stakeholder pension schemes, offered by FCA-regulated providers
– the Department for Work and Pensions, which provides the State Pension
personal pensionsa group or individual pension scheme arrangement, which is not an occupational pension scheme. These include:
– individual personal pensions
– self-invested personal pensions (SIPPs)
– free-standing additional voluntary contributions (FSAVCs)
– s32 buyouts
– retirement annunities
We use personal pension to include stakeholder pensions (ie a scheme that meets the legislative conditions to be a stakeholder pension scheme)
PKIpublic key infrastructure – allows the secure exchange of online data. It uses public and private cryptographic key pairs to unlock the information to authorised individuals
PMTpermission ticket/token – issuing permission tokens is an important part of the UMA authorisation process.
Within the PDP ecosystem, the consent and authorisation service will issue a permission token to the data provider to release the pension information to the user’s dashboard, provided the user has given their consent to do so
PPFIpension provider find interface – the means by which pension providers interact with the ecosystem, when they are receiving find data ie the instruction to look for a particular individual’s pensions
PPVIpension provider view interface – the means by which pension providers receive view requests from users at dashboards, check their authorisation at the consent and authorisation service and if authorised, return view data to dashboards
regulated activityaction that firms providing pensions dashboards will need to be authorised by the FCA to take
regulationssecondary legislation relating to pensions dashboards. Once the Pensions Bill is in force, secondary legislation will include:

– a new regulated activity for qualifying dashboard services

– compulsion for occupational pensions to share data with the ecosystem

– a mandate for the FCA to make rules for compulsion in relation to personal pensions
regulatorsthe FCA and TPR are regulators, which work in tandem to address risks and harms in the pensions and retirement income sector. The organisations have different statutory remits set by parliament
regulatory frameworkthe framework for the dashboards and pension providers’ ecosystem requirements and behaviours. This will be created by DWP legislation, by the FCA rules and guidance, TPR guidance and under the PDP’s standards, specifications and technical requirements. The framework will come into force during phase three of the programme
RPTrequesting party token – short lived authorisation or required access tokens.

Within the PDP ecosystem, an RPT is a token that the pension finder service (the requesting party in this instance) will send to data providers when an individual is trying to find their pensions via a pensions dashboard. RPTs are also used to request view data from providers and represent consent permissions for a specific PeI
SaaSsoftware as a service – a method of software delivery and licensing, where users access software via a subscription rather than buying and installing it on individual devices
safeguarded benefitsany benefits that include some form of guarantee or promise during the accumulation phase, about the rate of secure pension income that the member (or their survivors) will receive, or will have an option to receive. These include:

– under an occupational pension scheme, a promised level of income calculated by reference to the member’s pensionable service in the employment of the pension scheme’s sponsoring employer (for instance, under a final salary scheme)

– a promised level of income (or guaranteed minimum level of income) calculated by reference to the contributions or premiums paid by or in respect of the member (for instance, under some older personal pension policies)

– a promised minimum rate at which the member will have the option to convert their accumulated pot or fund into an income at a future point, usually on the member reaching a particular age (generally known as a guaranteed annuity rate, or guaranteed annuity option)

They are not money purchase or cash balance benefits
self-asserted datadata provided by an individual for use at the find stage, which the identity service does not verify
stagingpension providers will connect to the pensions dashboards ecosystem over a period of time rather than all at once, due to the volume of providers involved. They will be given a specific date within this period – their staging date, set out in secondary legislation/FCA rules. The staging date is the latest point in time by when a pension provider must have connected to the ecosystem, which includes complying with all of the legislative requirements on trustees/managers and being ready to respond to user find requests and return the view information.
Steering Group (SG)the Pensions Dashboards Programme Steering Group represents the interests of consumers and stakeholders within the pensions, financial services and fintech sectors and provides strategic direction across a range of topics. They are responsible for informing the design and delivery of the pensions dashboards ecosystem and steering the work of the working groups. The Steering Group has a specific focus on representing, and building consensus amongst, the industry and consumers who will be involved in, and impacted by, the implementation and rollout of pensions dashboards
support modeldesign, security, connection, technical, technological and data standards, technical components as well as reporting requirements for dashboards and pension providers, plus a technical helpdesk to support with onboarding to the ecosystem
TCFDTaskforce on climate-related financial disclosures
test environmentwhere the digital architecture is connected and uses artificial data and then, with the co-operation of volunteer providers, real data to test that the systems and processes work
TPRThe Pensions Regulator
UMAuser-managed access – an OAuth-based management protocol standard. It involves the exchange of specific tokens and permissions to ensure that data is only shared with authorised individuals.
Within the PDP ecosystem, we use it to define how individuals control who and what gets access to their data
UMA RSuser-managed access resource server – within the UMA protocol, the resource servers hold the data that needs to be unlocked via the appropriate permissions.
Within the PDP ecosystem, these are the pension providers servers, which hold the information about individuals’ pensions
URLa recognised term for a webpage address
UWGPensions Dashboards Programme Usability Working Group
view datathe pension, administration and employment information that pension providers will have to return to individuals to see on dashboards. There is more information on view data in our data standards
volunteer data providersdata providers that volunteer to help PDP test the processes and systems as we build and develop the ecosystem
working group (WG)the Pensions Dashboards Programme working groups are forums for representatives from across our stakeholders, which bring together subject matter experts with relevant skills and practical expertise to input into the design, build and run of the whole pensions dashboards ecosystem.

A working group will be set up for each significant workstream to do the detailed analysis and options appraisal of key aspects of the programme and will seek a steer from the Steering Group