The group will work closely with The Pensions Regulator on the setting of minimum data standards (“Dashboard Ready”), which should be attainable by all schemes and how these are promoted and monitored and will look at the costs and benefits of dashboard for pension schemes. It will liaise with the HM Treasury Dashboard Steering Group and the Project Group to ensure everyone is joined up.
Each member has been chosen due to their respective expertise and willingness to take on the big issues many schemes are struggling with.
Chaired by Geraldine Brassett, Director at PASA, the members are as follows:
Chris Batts – My CSP
Chris Connelly – Equiniti
Ian Dack – Mercer
Shaun Bigg – ITM
Ian McQuade – Muse Advisory
Francesca Parnell – Allen & Overy LLP
Sonya Purkayastha – Rothesay Life
David Rich – Accurate Data Services
Andrew Short – Capita Employee Benefits
Susan Sinclair – Hymans Robertson LLP
Richard Smith – National Grid
Lucy Stone – The Pensions Regulator
Brassett commented: “The introduction of a pensions dashboard is at the heart of industry strategy to increase engagement with pensions and put scheme members in a position where they can easily identify all of their pension benefits and empower them to plan for the retirement in a much more practical and effective way. Getting member and benefit data right, and having the right technological solutions, is going to be absolutely essential to the member experience of dashboard and, ultimately, dictate its long-term success.
“It is also vital of course that the scheme experience is also a good one in terms of cost and complexity. It is no exaggeration to say that pensions dashboard could be a positive game-changer for pensions saving in the UK and, as such, at PASA we want to put the full weight of our expertise and support behind it. With the first prototype due to be ready in just a few months there are many challenges to be addressed, but we are dedicated to devoting our time and energy to helping administrators and schemes plan.”