The Pensions and Lifetime Savings Association (PLSA) has commented on the Pensions Dashboards Programme progress update report.
Nigel Peaple, Director Policy and Research, PLSA, said: “Today’s publications by the Pensions Dashboards Programme (PDP) provide a welcome update about the significant progress the PDP has made over the last six months. The PLSA and its members have been calling for a clear and reasonable project timeline that gives them the certainty they need to prepare for onboarding. Therefore, I am delighted to see that today’s Progress Update Report provides a high-level timeline for the Programme as a whole.
“PLSA research suggests that most (75%) pension schemes – both DC and DB – believe they will need up to two years to prepare for onboarding. The fact that mandatory onboarding will not begin until 2023 is a recognition of the significant challenges schemes and providers will face in preparing their data. I am pleased to see that these challenges are clearly articulated in the PDP’s Call for Input response and the PWC research the Programme has published.
“We continue to believe that pensions dashboards are key to improving saver engagement with their pensions and helping them to plan for retirement, and look forward to contributing further to the PDP’s work.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]
Steven Kennedy, PR Manager
020 7601 1737 | 07713 073024 | [email protected]