The Department for Work and Pensions (DWP) has announced a change to the delivery date for the Pension Board Program (PDP).
Pensions Minister Laura Trott, who was elected as the MP for Sevenoaks in 2019, confirmed a change in timetable planning for dashboards.
The changes will be set out in the forthcoming regulations to ensure there is more flexibility for PDPs.
Trott said: “Rather than setting out the full timeline in the legislation, we will instead set that out in guidance that we will be working with industry on this year.”
The Department for Work and Pensions (DWP) has announced a change to the delivery date for the Pension Board Program (PDP)
The 38-year-old announced a connection deadline of October 31, 2026 for schemes to connect to the digital architecture.
The move is “in recognition that the requirement to connect to the digital architecture should remain mandatory”.
Trott added: “The Government remains as committed as ever to making pension dashboards a reality and we are ambitious about delivering them.
“I am confident that this re-evaluated approach will allow us to make significant progress in delivering dashboards safely and securely, allowing consumers to leverage their benefits to plan for retirement.”
There is a new connection deadline of 31 October 2026 for digital architecture connection schemes
Commenting on the latest announcement, Professional Pensions editor Jonathan Stapleton said: “It is clear that we now need to move forward and at pace.
“It is 21 years since ORPs were first discussed and around nine years since the last incarnation of the project began to be discussed more seriously in 2014, when the Financial Conduct Authority recommended the development of a pensions dashboard.
“The launch of auto-enrolment in 2012, the subsequent growth in people saving into a workplace scheme, has led to a surge in the number of small pension funds and the number of people with multiple pension packages.
“When you add freedom and choice to the mix, people increasingly need to engage with their pension and know exactly what they have and where.
Laura Trott MP
House of Commons
“It’s never been more urgent for consumers to be able to see all their pension savings – including the State Pension – in one place.”
He added: “Some estimate that it took approximately 800 years to build ancient Rome to its peak.
“Let’s hope it won’t take that long to get the pension dashboard up and running.”