The pensions minister has said the timeline for schemes to connect to pensions dashboards will not be written into law but come in the form of guidance to give industry greater flexibility. A final deadline of 31 October 2026, a year later than planned, will however be in the legislation so that connection remains mandatory. Industry bodies have voiced criticism, fearing the project is losing momentum. 

 

In a statement published on Thursday, pensions minister Laura Trott gave an update on her March statement that the pensions dashboards would be delayed. 

 

“More time is needed to deliver this complex build, and for the pensions industry to help facilitate the successful connection of a wide range of different IT systems to the dashboards digital architecture. As part of our reset of the Pensions Dashboard Programme, I am today laying amending regulations with a new approach to delivery that allows us to work more collaboratively with the pensions industry,” she said. 

 

“Rather than setting out the entire staging timeline in legislation, we will instead set this out in guidance which we will collaborate on with industry this year. This will give the Pensions Dashboards Programme the flexibility it needs to ensure this complex project is completed effectively,” she added, noting that connection will remain mandatory. 

 

The 31 October 2026 deadline – one year later than the previous staging deadline for medium schemes – is not the date for dashboards to be accessible to the public, she stressed, saying that point could be earlier. 

 

“The government remains as committed as ever to making pensions dashboards a reality and we are ambitious about their delivery,” Trott added. 

  

The pensions industry reacted with criticism. The minister’s statement provides helpful clarity and flexibility for the pensions industry, said Nigel Peaple, director policy and advocacy at the Pensions and Lifetime Savings Association. 

  

"We would, however, highlight that many in the pensions industry, including the PLSA, would have preferred the new staging timeline to be set out in regulation, as was previously the case, rather than only in guidance, as is now planned,” he added.  

  

He seemed to suggest the absence of legal timelines could make it harder to get the industry moving. To make the new approach work, the dashboards programme will need to “work in a very open, transparent and collaborative way such that all parts of the government involved in the project, and all those involved from across the industry, can work together as one”, he said. 

  

"The PLSA remains committed to the successful delivery of pensions dashboards in the UK. We believe they will have a transformative effect on wider pensions engagement and understanding. As we have said since the start of the programme, this is a highly complex undertaking, early delivery is less important than successful delivery.”  

  

The Society of Pension Professionals similarly warned of “the real risk of lost momentum in the programme”, saying this loss of momentum has already started to be seen since the ‘reset’ was announced in March. 

  

The SPP said it has serious concerns about whether schemes will adhere to the guidance without robust enforcement mechanisms. 

  

Paul McGlone, dashboard lead at the SPP, said: "The risk of a single end date with only supporting guidance is that we lose crucial momentum because schemes only focus on the end date. Without strong enforcement the industry will face yet another capacity crunch.’’ 

  

The society called on the government to monitor progress against target dates carefully, reserving the right to move them into regulations.

The Association of British Insurers is also concerned about a rush to the exit at the end.

“Our members have indicated they’re willing and able to continue to comply with a voluntary timetable, although it would have been our preference that these remained a regulatory requirement to prevent a last-minute rush of firms connecting to the system," said Yvonne Braun, director of long-term savings policy.

"We ask that government keeps this under review and considers making the staggered dates a regulatory requirement again if it should become clear that the wider industry is not taking the same approach," she added. 

   

Elsewhere, the Pensions Administration Standards Association has released guidance on value data for dashboards to help the industry in preparing for the incoming requirements. The Pensions Regulator has welcomed the guidance. 

 

TPR’s executive director of regulatory policy, analysis and advice, Louise Davey, said the guidance “provides useful examples to consider when calculating values for dashboards, encouraging a consistent approach across schemes which will ultimately be of benefit to savers.”  

 

Nigel Peaple

Paul McGlone

Richard Smith

Rob Yuille