This glossary is intended to help you understand some of the most common terms used by the Pensions Dashboards Programme.
|Pensions Dashboards||Pensions 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 Ecosystem||Multiple 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 which individuals interact with and the governance system which monitors the whole ecosystem.|
|Digital Architecture||The digital architecture will enable multiple parties to be connected in a secure ecosystem that delivers pensions dashboards for individuals. This includes a pensions finder service, identity verification service and a governance register.|
|Ecosystem Governance Framework||The ecosystem governance framework sets out how the technical components will work together with dashboards and data 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.
The Pensions Dashboards Programme will also develop a clear and comprehensive complaints process for users in case something goes wrong and a clear liability model, which all parties are signed up to, with routes to redress.
|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.|
|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.
|MaPS Dashboard||The Money and Pensions Service will develop a pensions dashboard (the MaPS dashboard) as part of its function to provide information and guidance on pensions.|
|Pension Finder Service (PFS)||The Pension Finder Service is a piece of technology that sends out an instruction to all data 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 key (a token ensuring secure access) which allows that dashboard to access the data and display it to the user.|
|Identity Verification Service||The 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.
|Governance Register||The 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.|
|Integrated Service Provider (ISP)||An Integrated Service Provider allows pension information to be securely held on behalf of pensions schemes.|
This will enable pension information to be accessible via a dashboard in those instances where the pension scheme provider is unable to do so themselves.
These arrangements already exist and are contractual relationships between the two parties. These arrangements are outside of the scope of the ecosystem.
|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 (“connect people with all their pensions”) for most individuals.|
|Estimated Retirement Income||An estimate of the income that an individual pension entitlement might itself provide or enable to be provided.|
|Data Standards||The pensions dashboards data standards will comprise of a set of data items which define:|
the individual attributes that will be shared about a verified identity to enable pension records to be searched for a match, and
which elements of an individual’s pensions information must be supplied by pension providers and schemes for display to the individual (or their delegate) via a pensions dashboard.
|Individuals||People who can use one of the dashboards to find and view their pensions.|
|Data Providers||Occupational and personal pension schemes, administrators, Integrated Service Providers, Department for Work & Pensions (DWP) – State Pension.|
Pension schemes may choose to provide the data directly to the ecosystem, or via an ISP (an intermediary who will prepare and present the data on the pension scheme’s behalf).
|Industry||The 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.|
|Regulators||The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) 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.|
|Compulsion||To require in law that pension schemes make consumer’s data available to them via their chosen dashboard|
|Staging||Pension scheme providers will connect to the ecosystem over a period of time rather than all at once. Schemes will be given a specific date within this period by when they must have connected.|
|Compliance||The process of supporting pension scheme 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.|