Regulation making the provision of information to pensions dashboards compulsory will be “applied if needed”, PASA chair Margaret Snowdon has stated.

Whilst chairing the Pensions Age seminar with ITM on Friday 7 April, Snowdon, who is on the dashboards steering group, noted that it is possible that if the pensions industry is reluctant to get involved with and provide data to the dashboards project, compulsion could be a result.

Finance and Technology Research Centre director and also a member of the steering group, Ian McKenna, was in agreement with this and explained that although hopeful that the majority, if not all of trustees and providers will assist with data to the dashboards, compulsion could be applied if necessary.

“The government wants to work with a coalition of the willing, but if they need to, they will legislate… but I know that all companies in this room takes such a positive approach at delivering good outcomes, you’ll all want to do it anyway,” he said.

Furthermore, concluding the seminar’s presentations, ITM senior consultant Matt Dodds and ITM director Darran Blount highlighted the importance of continued data management, especially in light of the oncoming pensions dashboards.

The dashboards will “serve as a catalyst for other data management work”, Dodds said.

“Having a long-term view is important to have efficiency with data,” he added. As a result of this, is it important that good data becomes a strategic goal for trustees, providers and administrators, Blount concluded.

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