All Pensions dashboards articles – Page 4
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NewsPension dashboards near live testing stage
On the go: The Pensions Dashboards Programme has moved into the testing of digital architecture phase, with more than 20 organisations taking part as early participants, programme principal Chris Curry has said.
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NewsTPR: Improved funding steering DB sector towards buyout
Around nine in 10 defined benefit trustees and employers now have a long-term objective in place, with positioning for a buyout more common than reaching a position of low dependency.
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NewsDWP concedes to industry demands on dashboards lead time
The Department for Work and Pensions has recognised its proposed 90 days pensions dashboards lead time “creates challenges” for schemes and administrators, and will now give providers a six-month notice before the project goes live.
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NewsTPR’s Counsell: DB schemes are not at risk of collapse
Defined benefit pension schemes were not on the verge of collapse before the Bank of England’s gilt market intervention, the Pensions Regulator’s chief executive Charles Counsell has said.
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NewsSmall pots problem is ‘only going to get worse’
The number of small pension pots — and the costs of administering them — will continue to increase, despite efforts from the government and industry, a Pensions and Lifetime Savings Association panel has warned.
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NewsBurghart announced as minister for pensions and growth
On the go: Alex Burghart MP has been confirmed as minister for pensions and growth at the Department for Work and Pensions
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NewsFRC publishes ‘consistent and reliable’ standards for dashboards
On the go: The Financial Reporting Council has confirmed the changes being made to Actuarial Standard Technical Memorandum 1 in preparation for the launch of the dashboards, striving for “consistent and reliable” pensions illustrations.
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OpinionRetirement outcomes: The buck stops where?
Employers, scheme trustees and product providers are not directly responsible for the decisions people make once they access their pension pot, but the direction of travel is clear.
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NewsProviders causing difficulties for savers accessing pensions
On the go: A survey of 2,153 members of consumer group Which? who accessed one or more of their pension pots in the past 24 months found that inflexible pension providers are creating difficulties for savers.
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NewsLGA calls for mandatory national insurance data in dashboards
The Local Government Association has argued that making national insurance numbers optional data will lead to a “poor experience” for pensions dashboards users, and has called for the government to make it a mandatory feature.
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PodcastsPodcast: Pension tax changes needed to save NHS from ‘rock bottom’
Podcast: Staff shortages and ever-growing waiting lists have left the NHS at “rock bottom”, but the government “has its head in the sand”. Changes to the pensions taxation regime are essential to fix the problem, argues Vishal Sharma, pensions committee chair at the British Medical Association. He is joined by Mark Bondi, council member at the Society of Pension Professionals and senior technical consultant at Capita, to discuss the NHS, the High Court’s retail price index decision, and pension priorities for new prime minister Liz Truss.
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NewsChloe Smith appointed work and pensions secretary
On the go: Norwich North MP Chloe Smith has been named secretary of state for work and pensions amid Liz Truss’s cabinet reshuffle.
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NewsOpperman has ‘zero sympathy’ for concerns over dashboards’ timeline
Pensions minister Guy Opperman has rebuffed concerns over the timescale of the Pensions Dashboards Programme, adding that the project would have moved at even greater speed if he had his way.
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NewsScheme administrators concerned about dashboard data security
On the go: Data security on the pensions dashboards is the primary concern among pension scheme administrators, according to a survey from financial solutions company Bravura.
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NewsPensions dashboards standards need ‘extensive user testing’
Respondents to the pensions dashboards standards consultation have warned that user testing and experience will be required before a full assessment can be provided.
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OpinionDashboards data outsourcing contracts risk non-compliance
The pensions dashboards — the revolutionary digital platforms where users can view their pensions information online, securely and all in one place — are due to kick off soon.
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PodcastsPodcast: Schemes struggle to educate members amid cost of living crisis
Podcast: Members should be able to consider dipping into their pensions early to combat the cost of living crisis, but schemes may struggle to educate them about the best means of doing so without giving them advice. Society of Pensions Professionals president Steve Hitchiner is joined by AgeWage chief executive Henry Tapper, founder of the Pension Playpen, to discuss recession fears, consumer protection for dashboards, and expanding long-term asset funds.
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OpinionMembers or fraudsters? Take action now to weather the dashboard storm
The Pensions Regulator has ramped up its call to trustees to take action and prepare for the introduction of the pensions dashboard – recently launching its ‘Deadline’ campaign and guidance to get data ready. The largest schemes are expected to connect from June 2023 with medium-sized schemes set to follow from October 2024.
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NewsLGPS funds back LGA opposition to 90-day dashboard window
Local government pension scheme funds have told Pensions Expert that they support the Local Government Association’s warning to the government over its plans to give schemes just 90 days’ notice before the dashboards go live.
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NewsPASA encourages additional checks for dashboards ‘value data’
On the go: The Pensions Administration Standards Association has issued guidance on ‘value data’ for pension dashboards, advising providers that this “complex” area of the dashboard programme will require additional backend calculations and preparedness.