On the go: The Pensions Administration Standards Association has urged master trusts to have “further discussions” with qualified advisers to guarantee they are ready for the pensions dashboards launch.
In new guidance published on January 10, the industry body stated that these discussions are encouraged due to the “the huge volume of activity required”.
The guidance, created by the PASA master trust working group, considers three practical areas to consider as part of these schemes’ preparation planning: data, technical considerations and the ecosystem, and legal requirements and compliance.
Legislative duties pertaining to pensions dashboards come into force this year, as schemes reach their various staging dates.
PASA chair Kim Gubler said: “With final regulations and standards expected later in the year, this guidance aims to support master trusts in preparing for the staged compulsory onboarding which begins in spring/summer 2023.
“PASA has actively supported the development and preparedness of the industry on this topic through our dedicated dashboards working group, which has produced some very useful guidance.
“We recommend reading these existing PASA publications alongside the dedicated master trust guidance.”
