Pensions analysis: It seems that it is now full steam ahead for the introduction of pension dashboards. A pension dashboard will be an online platform that can be used by pension scheme members to access information about all of their occupational pension schemes (including the State Pension) in one place. It is the responsibility of the Pensions Dashboards Programme (PDP) to design and implement the infrastructure that will make pensions dashboards work. The government is currently consulting on draft regulations which set out the detailed framework for the provision and operation of this service, as well as the obligations on occupational pension schemes to onboard onto a dashboard.
2020 was not the year that any of us expected. With Brexit and Covid-19 occupying much of the Government's time, it is little surprise that some of the developments that were expected to occur in the pensions world did not materialise. As a result, we expect 2021 to be a busy year for the pensions industry, with changes on the horizon that sponsors, trustees and pensions professionals will need to get to grips with.