The Pensions Dashboards Programme has opened a consultation on the mandatory standards for how data will be presented from the dashboard to ensure adequate consumer protection on pensions dashboards.
This consultation will run until 16 February 2023 and is looking to the pensions industry for feedback on a set of mandatory design standards.
These design standards outline how information will be presented to consumer in a way that is easy to understand and accessible to everyone, therefore creating an appropriate user experience.
Qualifying pensions dashboard services will need to comply with these design standards to ensure consistency across organisations.
The dashboard deadline is fast approaching with pension providers and schemes beginning compulsory connection to the dashboards from April 2023.
Our immediate support for dashboard is to assist our clients in improving their data ahead of staging duties. Following the data standards being issued, Life & Pension Sytems have identified where on Pension Master the mandatory data is stored and identified any items that are not currently stored.
Specifications are in progress to develop new fields or records needed and these will be available on our system in quarter one of 2023. There is already report functionality within Pension Master for core data checks along with numerous standard reports available to use for data checking and cleansing. We will be issuing guidance and additional reports for checks for specific data stored in specific places on Pension Master to ensure mandatory data is held consistently across all Schemes, along with any bulk update tools to assist.
Let us help you fill in the gaps and be dashboard ready.
In setting up your connection to the dashboard ecosystem, Life & System Pensions can support the open API and security requirements for connection and meet the technical standards and code of connection that you will need to comply with as Pension Administrators.
Let us know your timetable for connection of your Schemes so that we can help prioritise your data and help you get connected but contacting us at sales@lpsystems.com