Pension consultants observe slowdown in dashboards activity

Nearly three quarters (72 per cent) of pension consultants have seen a slowdown in dashboards activity since the Pensions Dashboards Programme (PDP) reset was announced in March, a poll from the Society of Pension Professionals (SPP) has revealed.

The poll, conducted at the latest SPP event on dashboards, found that nearly half (40 per cent) of attendees had seen a 'little less interest' in dashboards activities following the reset, while over a quarter (27 per cent) reported 'a lot less interest', and a “noteworthy” 5 per cent said activity had 'completely stopped'.

Given this, the SPP warned that the industry could be facing an “uphill battle”, with many pension schemes prioritising more urgent tasks and treating the deferral as a good reason to slow down their dashboards preparation, despite encouragement not to do so.

The SPP also highlighted the findings as evidence of the need for the new dashboards connection dates to be set as soon as possible to “reignite interest” in the initiative.

Commenting on the findings, SPP former president and dashboards lead, Paul McGlone, said: "We really cannot fault schemes for slowing down or pausing their dashboards preparation; there are so many more pressing matters to attend to.

“What we’re seeing is that work on data, which feeds into many projects, is largely continuing, but work that is specifically for dashboards is definitely falling down the agenda.

"Realistically, momentum on these projects will not be regained until clear connection deadlines are back in place."

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