Pensions Regulator says get ready for dashboards

The Regulator is urging pension schemes to take action now to ensure they are ready for dashboards and promises to take action against non-compliance.

Chief executive Charles Counsell and head of policy David Fairs have appeared at pensions industry conferences in recent weeks to warn that the “clock is ticking” on pensions dashboards and to recommend preparatory steps. Schemes of all sizes and types should:

• Put dashboards on board agendas.

• Speak with administrators to agree an approach.

• Ensure data is accurate and digitised.

Recognising the complexities of the dashboard proposals, Mr Counsell and Mr Fairs have said that the Regulator will be “supportive and pragmatic”. But they have also warned that the Regulator will “be assertive if we see intentional non-compliance”.