All occupational schemes, together with private pension suppliers, should hook up with pensions dashboards by October 31, 2026, on the newest. The DWP has now revealed guidance setting out a staged timetable, beginning with the most important schemes. This phased connection goals to easy the method of connecting the roughly 3,000 pension schemes and suppliers in scope by the 2026 connection deadline.
The revised connection timetable runs from April 30, 2025, to October 31, 2026. Key connection dates:
- April 30, 2025 – DC grasp trusts with greater than 20,000 members and FCA-regulated suppliers of schemes with greater than 5,000 members.
- Might 31, 2025 – DC schemes with greater than 5,000 members which might be used for auto-enrolment, along with hybrid schemes with greater than 20,000 members and schemes with no DC members.
- January 31, 2026 – is the primary connection date for “medium” schemes.
The timetable shouldn’t be necessary, however the DWP is encouraging trustees and pension scheme suppliers to observe the dates in its steering except there are distinctive circumstances stopping them from doing so. The steering features a guidelines for schemes to make use of of their countdown to connection.
The Pensions Dashboards Programme revealed a blog on April 9, 2024, which incorporates hyperlinks to the DWP steering, the FCA guidelines masking stakeholder and private pensions and the related rules.
As well as, the DWP has revealed some Monetary Reporting Council guidance to help with turning the worth of accrued DC pots into equal annual incomes on dashboards. This could assist DC savers in understanding how their DC pot will translate into precise revenue on retirement.
