According to a recently released report from the National Audit Office (NAO), the UK government’s Pensions Dashboards Programme (PDP) has been delayed due to a shortage of digital skills and capacity.
The PDP is an initiative that has been in development since 2020, aimed at creating a digital infrastructure for users to access and review their pension benefits and details. The report indicated that approximately 16.3 million people are expected to benefit from pensions dashboards.
Gareth Davies, head of the NAO, stated: “Once completed, the PDP could benefit millions of people by providing a secure, comprehensive, online point of access for information about their pensions. However, delivery delays caused by deficiencies in digital capacity and capability have extended the deadline for pension providers and schemes to connect to the PDP by a year, with no set date for citizens to benefit.”
The programme was reset in December 2022 when the Money and Pensions Service (MaPS), an arm of the Department for Work and Pensions (DWP), determined that the existing timetable was not viable.
Oliver Morley, CEO of MaPS, commented: “This report reflects the hard work of a dedicated team to inject real momentum into the dashboards programme, with support from the Money and Pensions Service, Department for Work and Pensions and the wider stakeholder community. We’re making sustained progress, delivering the information industry needs to connect and transform financial planning for generations to come.”
The new deadline for the PDP’s delivery is set for 31 October 2026, a year later than originally planned. MaPS and DWP anticipate that the PDP will enter the reset phase in May 2024 and have made various adjustments to the programme.
The cost of the PDP has increased by an estimated 23% due to the delays and supplier costs.
Davies concluded: “Though progress has been made during the reset, DWP and MaPS must continue to work closely to ensure the final stages of the PDP are delivered smoothly, enabling the public to access this important service.”
A DWP spokesperson added: “As the NAO recognizes, the Pensions Dashboards Programme has made significant progress towards delivering a service that will transform how savers plan for their retirement. Action taken by the DWP to reset the Programme aims to get it back on track for successful delivery, with connection testing scheduled to begin in August 2024, followed by a wider onboarding of pension schemes and providers starting in April 2025.”