Pension dashboards: navigating the future

As part of our 2025 Pensions Week, our session "Pension dashboards" provided a comprehensive discussion on the current state and future of pension dashboards in the UK. Hosted by Andrew Aston, Director in RSM's pensions audit team, the session featured insights from key industry figures, including Angela Bell from The Pensions Regulator, Joe Stacey from the Pensions Dashboards Programme, Geraldine Brassett from Willis Towers Watson, and Tom Petty from RSM.

The session began by highlighting the importance of pension dashboards as a tool for innovation and data management in the pensions industry. The speakers provided an overview of key developments, such as The Pensions Regulator's engagement with schemes and administrators to ensure compliance with dashboard duties, as well as the progress and focus of the Pensions Dashboards Programme, particularly the onboarding of volunteer participants and the upcoming wider industry connection. The discussion also touched on the practical aspects of connecting clients to the dashboard ecosystem and the regulatory requirements for commercial dashboards, including the necessary pre-connection audit process. 

Key takeaways from the session

Importance of data quality: Angela Bell emphasised that data quality is critical for the success of pension dashboards. Accurate, digitally accessible and up-to-date data is essential for identifying savers and providing valuable information. Poor data quality can lead to regulatory action and hinder the effectiveness of dashboards.

Engagement and communication: the speakers highlighted the need for early and continuous communication between schemes, administrators and other stakeholders. This ensures that everyone is aligned and prepared for the connection process. Angela Bell and Joe Stacey both stressed the importance of using available guidance and checklists to track progress.

Regulatory compliance: Tom Petty discussed The Pension Regulator’s compliance and enforcement policy, which includes a range of powers to ensure schemes meet their dashboard duties. This includes fines and enforcement actions for non-compliance. Joe Stacey also mentioned the importance of adhering to the standards set by the Pensions Dashboards Programme.

Operational readiness: Geraldine Brassett shared practical insights into the steps needed to be operationally ready for dashboard connection. This includes configuring technology solutions to meet the needs of savers and ensuring that trustees are engaged and supportive of the process.

What do pensions dashboards mean for the UK pensions sector?

The introduction of pension dashboards represents a significant shift in the UK pensions landscape. By providing a centralised platform for savers to access their pension information, dashboards have the potential to enhance engagement and improve retirement planning. However, this also brings challenges, particularly in terms of data quality and regulatory compliance. Schemes must invest in improving their data and ensuring they meet the required standards to avoid penalties and ensure a smooth connection process.

Additionally, the focus on data and technology aligns with broader trends in the financial sector, where digital transformation is driving both efficiency and innovation. For the pensions sector, this means embracing new technologies and practices to stay competitive and deliver better outcomes for savers. The success of pension dashboards will depend on the collaboration between regulators, schemes, and technology providers to address these challenges and leverage the opportunities presented by this digital shift.