Early adopters take the initiative
Large occupational pension schemes with 20,000 or more members were asked to connect to the new dashboard’s ecosystem as of 30 April. Several major providers have confirmed they have completed their connections on schedule. AJ Bell confirmed it met the 30 April deadline, while Standard Life, part of Phoenix Group, also completed its connection in line with Department for Work and Pensions (DWP) guidance.
Standard Life’s pensions dashboard integration, facilitated through its third-party provider, covers both trust and contract-based pension products. Jenny Holt, Standard Life’s Product Director and Project Lead, described it as a “major milestone” for the firm and a stepping stone towards eventually offering a private sector dashboard for customers. She said,
“Connecting such a large book of business covering so many different product types have been a significant undertaking, and we’re delighted to have delivered against the project’s timetable.”
Wider confidence across the sector
The dashboards have the potential to reshape how people understand and engage with their pensions. By letting individuals see all their pensions in one place, including those built up across different jobs and providers, pension dashboards could help millions plan for a better retirement. Despite earlier delays to the overall timeline, the pensions industry appears to be responding positively and is confident of meeting deadlines. According to research by the Pensions Dashboards Programme, 90% of Financial Conduct Authority - regulated providers intend to connect by their designated dates.
Confidence in delivering high quality data is also high. More than 80% of surveyed providers report that their data is already held in a digital format, which is critical for matching individuals to their pensions and sharing information via the dashboards. Around 85% of providers said they felt very or completely confident in meeting the requirements for calculating pension values and returning data promptly.
How providers are preparing to connect
A survey by Ipsos has shed light on how FCA-regulated pension firms are preparing to join the pensions dashboards ecosystem. Conducted in late 2024, it found most firms (83%) plan to connect by their designated ‘connect by’ date in the DWP’s staging guidance.
Most firms (82%) plan to connect via third-party integrated service providers, rather than building in-house solutions. This trend is helping to accelerate adoption, particularly among providers with more complex or varied legacy systems. Of these third-party users, most (65%) will use an existing supplier, while 31% plan to appoint a new one. Only 10% of firms are building a direct connection, with most of those already engaging with the Pensions Dashboards Programme.
Challenges remain
Despite the momentum, the journey has not been without challenges. The dashboards project has experienced delays due to issues including digital skills shortages and governance hurdles. These setbacks have already pushed back the original public access date. Continued support from the Pensions Dashboards Programme and regulators like The Pensions Regulator will be key to maintaining progress.
Efforts are ongoing to support the industry with updated standards, guidance documents and regular engagement events, such as the PDP’s ‘town hall’ meetings. These initiatives aim to clarify expectations, troubleshoot problems and ensure that schemes stay on track in the run-up to full implementation.
Transforming pension engagement
The scale of the pensions dashboards project means that delivery will be gradual, with connection deadlines stretching into 2026 and full public access not expected until the end of that year. Member access is expected in late 2026, with the DWP due to provide six months’ notice before go-live. Until then, connection activity will continue in stages, with smaller schemes and providers working towards deadlines that run through to October 2026. Nevertheless, the successful connection of large schemes is being widely recognised as a turning point.
Commenting on the progress, Jordan Hindley, Head of Life & Pensions Products at Equiniti said,
“The steady increase in connections shows the pensions industry is taking its responsibilities seriously. Although clearly there’s still a long way to go, the foundations are now being laid for a more transparent and joined-up pensions landscape. It’s encouraging to see providers, regulators and service partners all working towards the shared goal of improving outcomes for pension savers.”
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