The pensions dashboard is entering the next stage of the process to build the technology which will enable individuals to view all their pensions in one place online.

The Pensions Dashboard Programme (PDP), set up by the Money and Pensions Service (MaPS), has responsibility for designing and implementing the ecosystem which will make pensions dashboards work.

Today it is starting a six-week period of informal market engagement with potential suppliers of the digital architecture which will connect individuals with their pensions information when they request it. This exercise will enable the PDP to examine the readiness, capacity and capability of commercial firms which might be interested in the work. This is in preparation for a formal procurement process anticipated to start in the autumn.

Potential suppliers are being invited to register their interest and complete an online request for information questionnaire by 31 July.

Throughout July and August there will also be an industry-wide call for input relating to the data scope and data definitions working papers which were published in April. The formal call for input on these was delayed because of the Coronavirus outbreak, and will now open on 6 July.

In conjunction with this call for input, the PDP will convene a Data Working Group representing all sectors of the pensions industry, which will meet regularly for solution-focussed dialogues to help finalise a set of data standards later in the year.

Chris Curry, principal of the PDP, said: “We know the sector has responded well to the current crisis and there is enthusiasm to engage once again in the important detail of delivering pensions dashboards - we are now making good progress on a number of fronts and are ready to shape detailed data requirements with the help of the industry while also starting engagement with the tech firms which will help us build the dashboard ecosystem.

“The concept behind pensions dashboards is simple, but there are still complicated technical and regulatory hurdles to overcome; the work of the next few months will be significant in helping us develop a timeline for the delivery of these services.”

Minister for pensions and financial inclusion Guy Opperman added: “Pensions dashboards will help to reconnect savers with lost pension pots, and will engage those who may be under-saving or are facing complicated decisions as they approach retirement.

“The measures included in the Pension Schemes Bill currently going through parliament will compel pension providers to make consumers data available to them via dashboards - I would encourage schemes to be on the front foot and to get ‘data ready’ now."

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