Pensions Dashboards Update – May 2025

The first deadline for connecting to the pensions dashboards ecosystem in accordance with the DWP’s staged timetable guidance has now passed!

The Pensions Dashboard Programme (PDP) reported last month that the first pension provider (L&G) had finalised connection to the ecosystem, following on from some volunteer participants connecting in March. 

With real pensions data now connected to the ecosystem, it is anticipated that some user testing of the MoneyHelper dashboard will begin over the summer.

Earlier in April the Pensions Regulator (TPR) released a series of short films highlighting the difference pensions dashboards will make to savers.  The films form part of TPR’s campaign to encourage the industry to continue with dashboards preparation. In the films savers give consistent feedback that having pensions information in one place could significantly improve their planning for retirement.

TPR has also published material on registration codes and how to use them, confirming that each Integrated Service Provider (ISP) will require a unique registration code to connect the section(s) that they are responsible for on behalf of the scheme. For occupational trust-based schemes in scope for dashboards, TPR will provide two unique registration codes which will be sent to the scheme’s designated contact listed on Exchange three to five months before the scheme’s “connect-by” date.

Trustees should be reviewing and preparing their data which will need to be accurate and accessible.  This will involve trustees working with administrators, AVC providers and other advisers supporting their scheme. In terms of governance, pensions dashboards should by now be a standing item on meeting agendas and trustees should be keeping records of their decisions in relation to connection so that they have an audit trail of their dashboard preparations.  Further detail on trustee duties and record-keeping requirements are set out in TPR’s guidance. Trustees should update their risk registers and should review and update their administration contracts in relation to pensions dashboard requirements. 

If you would like any advice or assistance with dashboards compliance, we are very well placed to help. Please contact Andy Prater, Susannah Young or your usual Burges Salmon Pensions and Lifetime Savings team contact.