The government has confirmed that whilst the formal Dashboards Available Point (DAP) provision does not apply to the government-backed MoneyHelper pensions dashboard, it will still take the same approach, including giving due notice before launch.
The confirmation was shared in response to a letter from the Work and Pensions Committee (WPC), which questioned the Pensions Minister, Torsten Bell, about the latest progress on dashboards.
In his letter to the committee, Bell emphasised that the government remains "firmly committed to delivering pensions dashboards safely and securely", stating that he was keen for them to be implemented "as soon as reasonably possible".
He also highlighted recent research from the Pensions Dashboard Programme (PDP) that suggested the vast majority of pension schemes and providers in scope will meet the connection deadline of October 2026, and most intend to connect in line with the staging timetable published in guidance.
However, he confirmed that 31 applications to defer connection were made to the Department for Work and Pensions (DWP) ahead of the 8 August 2024 deadline.
Of these, 2 applications to defer connection beyond 31 October 2026 were subsequently granted. All schemes have been notified of the outcome of their applications.
Bell also responded to the specific queries raised by the committee, confirming that the DAP provision in the pensions dashboards regulations does not apply to the government-backed MoneyHelper pensions dashboard.
Instead, the provision requires the Secretary of State for Work and Pensions to give at least six months’ notice of the DAP once satisfied that the dashboards ecosystem is ready to support the widespread use of private sector dashboards by the general public.
However, Bell confirmed that whilst the formal DAP provision does not legally apply to the launch of the MoneyHelper pensions dashboard, the same factors will need to be taken into account for this dashboard.
He also said that DWP intends to take the same approach in giving due notice before launch.
In addition to this, the minister provided a further update on design standards for private sector dashboards, confirming that work is currently underway to identify what more will need to be done to facilitate the launch of private sector dashboards, of which design standards is one element.
"We will set out a timetable for a revised version in due course," he confirmed.
However, the PDP previously confirmed to Pensions Age that the updated standards aren't expected to include any "major or significant changes", with only minor adjustments to set to be made throughout the year.
More broadly, Bell also reemphasised the government's commitment to private sector dashboards, following recent concerns that the focus on the MoneyHelper dashboard could cause further delays for the private sector.
"The government remains committed to facilitating the delivery of private sector dashboards as they will help promote engagement amongst savers with their pensions information by harnessing the innovation, ideas and expertise of industry to provide a choice of dashboards," he stated.
"The DWP is keen to ensure that the regulatory requirements do not deter appropriate private sector dashboard operators from entering the market. However, it is important that there is appropriate consumer protection."
Responding to calls for more transaction capabilities, Bell emphasised that whilst it is possible that such functionality may be considered for a future iteration, this is not something that is being considered for the first version of dashboards.
"It is important to first develop a thorough understanding of how consumers are interacting with this initial version of dashboards and what risks enabling transactions might create," he stated.
"Any future developments of pensions dashboards will be based on evidence and subject to appropriate safeguards."
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