Pensions Dashboards Programme publishes blog on updated draft reporting standards

On January 8, 2025, the Pensions Dashboards Programme published a blog on its draft reporting standards, following a November 2024 update. 

The reporting standards set out the requirements on pension providers and schemes for generating and recording operational information and reporting it to the Money and Pensions Service (MaPS). Although pension providers and schemes will initially be required to keep records from April 2025, an additional duty to routinely send data to MaPS will apply at a later date. Operational monitoring has also been removed.

The reporting standards are not expected to undergo further significant change before formal approval is sought from the Secretary of State for Work and Pensions. However, minor corrections and clarifications could be made if required.

The final reporting standards are expected to be published in the first quarter of 2025.