FAQs

The most frequently asked questions on the UK’s Pensions Dashboards Programme.

Where can I go for help about my pensions now?

Depending upon your query, the following organisations can help you:

To help locate your lost pensions contact The Pension Tracing Service: https://www.gov.uk/find-pension-contact-details/

For help with general guidance about pensions or if you have got a problem, complaint or dispute with your occupation or private pension arrangement contact The Pensions Advisory Service: https://www.pensionsadvisoryservice.org.uk/

For free and impartial advice about your defined contribution pension options contact Pensionwise: https://www.pensionwise.gov.uk/en

Why have the Industry Delivery Group changed their name to the Pensions Dashboards Programme (PDP)?

We (with support from government delivery partners and key stakeholders) have decided to change our name to the Pensions Dashboards Programme to reflect the fact that this is a significant programme of work with multiple delivery partners across government and industry. Industry do and will continue to play a critical role in making pensions dashboards a reality and are represented on the PDP Steering Group and via industry Working Groups.

Why can’t pensions dashboards be delivered more quickly?

While the vision of pensions dashboards sounds straightforward – to give everyone access to all their pension information in a single online place – the delivery challenges are significant. Even without the coronavirus epidemic, timescales depend on technological developments and the progress of government legislation. Dashboard services need to be delivered to a high standard with the appropriate regulation and safeguards in place – no-one wants corners cut when you are dealing with people’s lifetime savings.

Why won’t you set a date for when you expect dashboards to be available to the public?

We plan to lay out a more detailed timeline by the end of the year. What we are clear about is that services will only launch to the public when a number of key requirements have been met, including enough pension schemes being able to participate with good standards of data, robust security, and with thorough testing of the user experience.

How much impact is the coronavirus pandemic going to have on your plans / timescales?

Such a collaborative project depends on partners, including pension schemes and government, being able to contribute resources and views. In light of this, some consultation which was due to happen over the summer is being delayed while the impact of the current pandemic is being dealt with. We remain committed to progressing all other workstreams with as little disruption as possible.

What has been achieved since the development of dashboards was passed over to the Money and Pensions Service?

It’s important that we get the development of pensions dashboards right so that they provide people with access to all their pension pots in one place, allowing them to make informed decisions about their retirement.

In 2019 MaPS established the Industry Delivery Group (now known as the Pensions Dashboards Programme), responsible for leading the development of the dashboard infrastructure. The PDP recruited an industry steering group with representation from stakeholders across pensions, fintech and consumer advocacy sectors to ensure dashboards are developed in collaboration with industry and are in the interests of consumers. The steering group will provide strategic direction across a range of topics to support the delivery of pensions dashboards.

Looking forward, the PDP will be sharing a delivery plan and roadmap that will give further details on the timeline for developing pensions dashboards. One of the key focuses will be getting the right data standards in place, with the data elements working group coming together later this year. We will also work to make sure that we’re identifying and using the most appropriate current and emerging technology solutions.

What’s the importance of the Pensions Bill?

The introduction of the Pensions Bill will be crucial to the next phase of dashboards because it requires pension schemes to provide the information needed for the service to work. Dashboards are only going to be as good as the data that they hold so it’s important that the data going in is accurate, clean and tells people what they need to know.

What information will I be able to see on pensions dashboards when they launch?

It’s expected the first dashboards will show quite simple information, similar to what’s available on your annual benefit statements or on request from your pension provider. Recognising that you will want to know more about your pensions on future dashboards we will regularly review the information available to you.

Why haven’t you used the existing pensions dashboards prototypes?

The work already achieved on various pensions dashboards initiatives are being built on as part of our work, but we have to keep pace with new and emerging technologies.

We continue to work closely with organisations which have contributed to past prototypes. For example, the ABI, which led an early initiative in this space, is represented on our steering group.

Why isn’t this work simply part of the larger open banking work?

Open banking and pensions dashboards are based on significantly different priorities.

While the policy intent of open banking is about increasing competition, the objectives of pensions dashboards are to enable people to find and access information about their pensions.

However, there are areas we can learn from the open banking experience – for example around creating data standards and dispute resolution for users.

What is the role of the PDP in delivering the MaPS dashboard?

The Money and Pensions Service will develop a dashboard as part of its function to provide information and guidance on pensions, but other organisations will also provide dashboards.

We (the Pensions Dashboards Programme) are responsible for developing the required standards, specifications and technical requirements as well as the technology and governance to enable individuals to view all of their pensions data via their chosen dashboard.

As a pensions dashboard will allow consumers to see all their pensions in one place, won’t this just offer scammers a new tool for getting at people’s hard earned pensions savings?

Security is at the heart of pensions dashboards development. We recognise the importance of strong ID requirements that keep personal data secure and the need for clear scams warnings to users about sharing their pension information. As well as helping people to see all of their pension savings in one place, dashboards provide an opportunity to inform consumers and signpost them to guidance about pension scams.

How can interested suppliers including Fintech and software suppliers get involved in the Pensions Dashboards Programme and any future commercial and procurement activities?

We intend to undertake a market engagement exercise in June, so suppliers interested in potentially supplying the digital architecture and any related requirements can register to participate by emailing procurementpdp@maps.org.uk

Why does MaPS have to advertise and compete their contract opportunities?

As an Arm’s Length Body (ALB) of the Department for Work and Pensions (DWP), the Money and Pensions Service (MaPS) is subject to the Public Contracts Regulations (PCR) 2015 when purchasing supplies, services or works that exceed the current whole life contract value threshold of £122,976 (Exc. VAT).

Value for money is fundamental and central to all procurement activities carried out which must be managed in line with HM Treasury’s Managing Public Money guidance.

Is it possible to meet with you and discuss our business and what service we provide?

To maintain equal treatment of suppliers, we cannot meet all suppliers interested in bidding for future commercial opportunities. However, we will undertake market engagement for contracts that are complex or where requirements need the input of suppliers.