Supporting progress and looking ahead

At its heart, the goal of the Pensions Dashboards Programme (PDP) remains the same:

As the ecosystem begins to take shape, this vision is steadily becoming reality.

Launch, learn and iterate

We’re now nearing the “launch and learn” phase. At launch, the only dashboard available to savers will be the MoneyHelper Pensions Dashboard (MHPD). This will focus on delivering the functionality needed to meet PDP’s objectives.

There is, however, increasing interest from industry voices and commentators calling for more features, including charges and investment disclosure, delegated access, including income drawdown pensions on dashboards, consolidation tools, Environmental, Social and Governance (ESG) metrics, and contextual guidance.

MHPD will shortly be entering its user testing phase where the design and functionality will be saver tested. Two phases are planned initially, a smaller moderated group followed by a much larger unmoderated test group. PDAG will watch with interest and members have offered their support with this process. The integrated service provider (ISP) testing approach could be a useful benchmark for MHPD. MHPD could replicate the test matrices already created by the ISPs. This would be a perfect example of public-private collaboration upon which the Pensions Dashboards Programme relies.

PDAG members include several ISPs. We have listened to this market and acknowledge that a number will not be onboarded by 30 April 2025. There are multiple crucial steps to the onboarding and test connection process and will take time to move all ISPs through the process.

PDAG supports an approach that builds on a solid foundation. Getting the basics right is crucial, but we recognise dashboards will need to evolve over time in response to saver needs and behaviour.

We also continue to appreciate the collaborative approach both PDP and the regulators have taken to working with the industry during the development of the ecosystem and the MHPD. This approach has been key to the tangible progress we have seen with the programme. As we go through the next stage of saver testing, followed by promotion of MHPD, collaboration across the entire industry and consumer groups is critical for operational readiness.

Dashboard readiness: Data gaps and connection routes

For dashboards to work effectively, providers and schemes must be dashboard ready. That means understanding the connection route, whether through a third-party administrator, ISP, or in-house technology, and making sure data is accurate and complete.

Data quality should also be a top priority. Gaps in matching data or inability to calculate values will undermine the user experience and erode trust. Now is the time to check systems, test matching logic, and close any known gaps.

Management information (MI) will come during the initial phase of pensions dashboards from savers who successfully access the MHPD. A range of data will be available on matching, partial matching and response times. This management information will be key as it will help shape plans for the future and identify risks to consumers. Providers and ISPs should consider now what management information they can derive from their own solutions and put plans in place to deliver relevant management information once the MHPD is available to savers.

Warming up savers

Preparing individuals for the arrival of dashboards is just as important as the technical build. PDAG welcomes the efforts by The Pensions Regulator (TPR) producing videos and explainer content to raise awareness with trustees. We need to consider a similar approach aimed at savers. The Financial Conduct Authority (FCA) has committed to working with PDAG to prepare suitable materials to start building awareness in the near future.

At PDAG, our role is to consider the end-to-end saver journey. We will increasingly be reviewing what industry is doing to support savers, as well as understanding how savers are responding to seeing all their pensions information in one place and how this will shape the future plans for pensions dashboards.

Promoting the MoneyHelper Pensions Dashboard (MHPD)

MHPD will be the first place savers experience dashboards. Its success in the early stages will help set expectations and build trust. That’s why it’s so important schemes, providers and employers actively signpost the MHPD through all member-facing channels and media.

PDAG is supportive of a Department for Work and Pensions (DWP) campaign to promote dashboards. It is a vital opportunity to drive engagement with the MHPD, particularly through State Pension messaging. Ideally, this should link directly to the MHPD or clearly highlight it as a trusted way to view pensions data.

FCA-regulated dashboards: Essential next phase

Looking beyond the initial launch of MHPD, dashboards offered by FCA-regulated firms are a crucial evolution of the pensions dashboards ecosystem. The industry and the PDAG view these dashboards as essential for achieving the programme's full potential, ensuring comprehensive consumer reach across all demographic segments that the public MoneyHelper dashboard alone cannot achieve.

It is important that innovation is aimed at driving enhanced consumer engagement through specialised tools, personalised guidance, and seamless integration with broader financial planning services. These developments are fundamental to improving retirement outcomes for millions of UK citizens who might otherwise remain disengaged from pension planning. There will also be risks to savers from the introduction of FCA-regulated dashboards and it is essential that all parts of the ecosystem and the regulatory community play their part in identifying and mitigating risks.

PDAG strongly urges government to provide clear timelines and robust support for the implementation of FCA-regulated dashboards, including a clear plan on identifying and mitigating risks to savers.

The success of the entire Pensions Dashboards Programme ultimately depends on this public-private collaboration, with both elements working in concert while maintaining the high standards of security and consumer protection established by the central digital architecture. This is why the PDAG remains committed in its intent and desire to deliver FCA-regulated dashboards.

A vision for the future: Beyond launch

The launch of the MoneyHelper Pensions Dashboard represents not an end point but the beginning of a transformation in how people engage with their pensions.

As we move through initial deployment to wider adoption, PDAG envisions an ecosystem where:

• savers have unprecedented visibility and control over their pension information, helping them take steps to achieving a comfortable retirement
• the pensions industry benefits from improved efficiency and reduced costs associated with lost pensions
• innovation thrives through FCA-regulated dashboards offering enhanced features and services which deliver better value for savers
• policy makers gain valuable insights to shape future retirement policy - PDAG remains committed to supporting all stakeholders throughout this journey
• there is strong consumer protection and risks to savers are identified and mitigated

We will continue to provide guidance, share best practices, and advocate for improvements that benefit savers while ensuring the highest standards of consumer protection, security and compliance.

The success of pensions dashboards ultimately depends on collective action. We call on all providers, schemes, employers and industry bodies to embrace this opportunity, prepare thoroughly, and help communicate its benefits to the millions of people whose retirement security stands to improve.

Together, we can make the vision of accessible, clear, and comprehensive pensions information a reality for everyone.