Published by: Caroline Kyriazis  

The Pensions Dashboards Programme (PDP) is inviting organisations that intend to provide a pensions dashboard to help test the development of the pensions dashboards ecosystem. In addition to running tests with the Money and Pensions Service (MaPS) dashboard, PDP intends to work with up to three commercially-developed potential dashboards, to ensure the technology and its standards work for different types of dashboard providers.

Involvement with the programme at this early stage, while PDP is still refining standards and systems, provides potential dashboard providers with an opportunity to influence the design of pensions dashboards and help identify any challenges with connecting to the central technical architecture. This activity aims to refine the connection process for potential dashboard providers connecting to the ecosystem in the future.

PDP has drawn together information to support potential dashboard providers on its website, including information relating to applying to take part in initial test phases. The programme is committed to providing further information on any learnings that arise from these system tests and will make this available via its website on a regular basis.

Application timeline and supplemental information

PDP will supply interested dashboard providers with an application pack, which contains a questionnaire and supporting information. Organisations wishing to apply are invited to contact PDP at infopdp@maps.org.uk

The closing date for receipt of completed applications is Tuesday 26 October at 5pm.

The programme will run two webinars to outline the application process and provide an opportunity for questions, on 18 and 21 October.

Sign up to the 18 October webinar

Sign up to the 21 October webinar

PDP will announce which dashboard providers it has chosen to take part in the testing by the end of November 2021. It will support the selected organisations to connect their dashboards to the central digital architecture during its initial (alpha) test phase, which runs for six months from December 2021.

Provided they meet the criteria, there may be scope for dashboard providers not selected in the first round, to participate during later test phases.

Raman Dhaliwal, Head of Product at the Pensions Dashboards Programme, said:

“We are keen to hear from a range of organisations that intend to supply pensions dashboards. We look forward to working with these organisations to develop and refine the standards and systems for pensions dashboards via a robust testing process. Ultimately, we want the pensions dashboards ecosystem to work effectively for all, so we can work together to provide a dashboard service that benefits consumers.“

Keep up to date with programme updates and future call for inputs by signing up to receive the monthly Pensions Dashboards Programme (PDP) newsletter, and following PDP on Twitter and LinkedIn.

ENDS

Press enquiries:

MaPS Press Office
0208 132 5284 
media@maps.org.uk

About

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 – https://www.pensionsdashboardsprogramme.org.uk/

FCA’s regulation of dashboard providers

The UK government has committed to changing legislation so that any entity that wishes to become a pension dashboard provider must obtain FCA authorisation to do so.  Participation in the alpha testing phase does not guarantee FCA authorisation of the participants.   More information about FCA regulation of qualifying pension dashboard providers.

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:  

About the Money and Pensions Service

The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through the Money Advice Service, The Pensions Advisory Service and Pension Wise. 

MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing. 

MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP). 

For further information visit www.maps.org.uk. Members of the public can get free guidance about their money and pensions via: 

www.moneyadviceservice.org.uk / 0800 138 7777    

www.pensionsadvisoryservice.org.uk / 0800 011 3797   

www.pensionwise.gov.uk / 0800 138 3944