Maurice Titley, Commercial Director, Data and Dashboards, Lumera, said: “This weekend marks the deadline for schemes and providers to connect to the pensions dashboards ecosystem, a major milestone in what is set to be one of the most transformative changes to the UK pensions landscape and adequacy challenge. Bringing State, workplace and personal pension information together will help people understand not only what they have, but the estimated income it could provide when they stop work, giving a clearer picture of their potential income in retirement.
“However, with approximately 90 million pension records expected to be connected by the deadline, and with public availability of the MoneyHelper Pensions Dashboard expected during the 2027/28 financial year, attention must now turn to ensuring schemes are operationally ready to deliver an accurate, secure and seamless experience for members.
“Data quality will be fundamental to the success of dashboards. Schemes need to be confident that members can access the right information about their pension savings, while having clear processes in place to resolve possible matches securely and efficiently. PASA’s recent guidance on resolving possible matches highlights the importance of balancing a straightforward member experience with appropriate verification and fraud prevention.
“This could be particularly challenging for smaller schemes, which must prepare for increased member engagement while working with more limited resources. Connecting to the ecosystem is one challenge but ensuring administration teams, customer service and supporting systems can cope with the demands of public use is another.
“Schemes must use the window before public launch to test their processes, address data weaknesses and strengthen governance and system resilience. Those that treat dashboards as an operational readiness exercise will be better placed to deliver a positive member experience and build a stronger foundation for the future of pensions administration.”
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