9th November 2020
The Government has delayed the implementation of its new online pensions dashboard, which will enable people to view all their pensions in one place.
The pension system was initially set to take effect in 2019, but the Money and Pensions Service (MaPS) recently revealed that a fully operational dashboard system will be available from 2023.
The scheme will allow individuals to view their pension information online, securely and in one place.
According to the MaPS, testing and development of the pensions dashboard system will begin in 2021, with voluntary onboarding and testing being available from 2022.
Chris Curry, principal of the pensions dashboard programme at MaPS, said:
“While dashboards are a simple concept, the delivery of dashboards will be complex and is reliant on collaboration between the pensions dashboards programme and many other organisations across Government, regulators, dashboard providers, pension schemes and providers to complete actions at a specific time.
“The first version of the data standards, which will be published in December, will enable the industry to take action and take the next steps in making pensions dashboards a reality.”
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