Commenting on today’s update, Chris Curry, Principal of the Pensions Dashboards Programme at MaPS, said:
“The vision of the Pensions Dashboards Programme could not be simpler – to enable individuals to access all their pensions information online, securely and all in one place, thereby supporting better planning for retirement and growing financial wellbeing.
“However, the delivery challenges underlying this vision are significant – even more so in the current circumstances. Delivering this valuable service for society will depend upon close collaboration across government, regulators and the pensions industry.
“The three documents that we’re publishing today are for information only. We are not asking you to take any action now, but we will engage with stakeholders when the time is right. In the meantime, we will continue with our work to make pensions dashboards a reality.
“Throughout the evolution of pensions dashboards, people have understandably wanted to know when they will be widely available for public use. Even when the impact of the coronavirus pandemic has decreased, timescales depend heavily on factors including technological developments and the progress of government legislation. We plan to lay out a more detailed timeline by the end of the year, but a staged onboarding process should be expected to allow data providers to get ready and for all the necessary user testing to be carried out.”