The first pension provider has successfully completed connection to the live pensions dashboards ecosystem, forming a crucial step towards making dashboards a reality.
This important milestone, with the first pension provider or scheme finalising connection in line with the staged timetable set by the Department for Work and Pensions (DWP), marks the beginning of connection for all approximately 3,000 providers and schemes in scope of the dashboards legislation.
It follows the completion of three ‘volunteer participants’ connection journeys in March 2025, which paved the way for scheme and provider connections from April.
More providers and schemes are registered and are currently in the pipeline for connection in April, in line with guidance issued by the Pensions Dashboards Programme (PDP).
PDP is working with all its volunteer participants to complete their connection journeys as soon as possible. As set out by the programme in December, a number of volunteer participants will not have completed their journeys by the end of April.
PDP is partnering closely with the FCA and The Pensions Regulator. There will be no regulatory intervention at the current time for pension providers and schemes who are unable to meet their ‘connect by’ dates in guidance solely due to their dependence on a volunteer participant who has yet to connect.
Oliver Morley, CEO of the Money and Pensions Service, which runs PDP, said: “The connection of the first pension provider is a testament to the hard work and dedication across industry, Government and the regulators. It’s important that providers and schemes keep going with their preparations ahead of connection in line with guidance.
“Alongside connection, we are expecting to start user testing with our MoneyHelper pensions dashboard in the summer. This will bring us closer to the public being able to start using dashboards to better plan for their retirement.”
