Did you know that UK workers have lost track of around 1.6 million workplace pension pots worth £19.4 billion? This could be reduced with the introduction of pensions dashboards.
We provided information on this in your 2023 newsletter, and we wanted to provide you with an update.
- Large schemes must be connected to the dashboards by the end of 2025, with others following in 2026.
- Testing with sample data will happen in 2024 and then with live data in 2025.
- There is currently no exact date for the public availability, but it is likely to happen by the end of 2027 or early 2028.
- It’s likely that not all of your pensions will be available from day one.
You can view an article we wrote in June 2023 which provides further detail on the Pensions Dashboards Programme.
Visit the Pensions Dashboards website today for further information.
In the meantime, you should ensure Plan Administrators, Gallagher and Aviva have your complete and accurate personal details to help them with their data checks.
