TPR issues call to action for pensions dashboards

On 22 June The Pensions Regulator launched a new campaign warning trustees they must start preparing for their pensions dashboards deadline as new research shows the majority of trustees have yet to get started. 

TPR will be contacting all pension schemes at least 12 months before their proposed connection deadline but has strongly advised trustees to start preparing as soon as possible as it could take at least 12 to 18 months.

It has also published draft guidance based on the indicative Pensions Dashboards Regulations 2022, which DWP consulted upon earlier this year. The guidance is a live document and will be updated once the Regulations are finalised. It contains a helpful checklist for trustees and a timetable for next steps. 

Trustees who would like a reminder of what needs to be done and by when, along with details of the penalties for non-compliance, should read our update of 14 March 2022.

TPR’s Director of Regulatory Policy, Analysis and Advice David Fairs warned: “Pensions dashboards are coming. Trustees will have legal duties they must be ready for. We will take a dim view of trustees who carelessly fail to prioritise their dashboard responsibilities.”

https://www.thepensionsregulator.gov.uk/en/media-hub/press-releases/2022-press-releases/trustees-warned-be-prepared-your-pensions-dashboards-deadline-is-coming