The number of pension providers that have completed their connection to the pensions dashboards ecosystem has continued to grow, with Standard Life and AJ Bell the latest to confirm that that they have completed connection.

Occupational pension schemes with 20,000 or more members have been asked to connect by 30 April, with other occupational pension schemes to connect by later dates depending on their size and structure.

Legal & General became the first pension provider to finalise its connection to the pensions dashboards ecosystem last month.

However, the number of providers connecting has continued to grow since, as AJ Bell also confirmed that it completed its connection to the pensions dashboard ahead of the 30 April deadline.

Standard Life, part of Phoenix Group, also completed its connection to the pension dashboard ecosystem on 30 April, in line with the Department of Work and Pensions guidance timetable.

The connection, which was achieved via Integrated Service Provider (ISP) Equisoft, formed part of a group wide initiative, and Phoenix Group has successfully completed its connection as part of the project.

Standard Life highlighted the connection as a "major milestone" towards making dashboards a reality for Standard Life customers, covering the full range of trust and contract based policies offered by the provider, as well as a "stepping stone" towards it offering a private sector dashboard at a later date.

Commenting on the connection, project lead and Standard Life product director, Jenny Holt, said: “Connecting such a large book of business covering so many different product types has been a significant undertaking and we’re delighted to have delivered against the project’s timetable.

"Working with our partners Equisoft and the Pensions Dashboard Programme we’re a step closer to making pension dashboards a reality.”

This was echoed by AJ Bell head of public policy, Rachel Vahey, who highlighted 30 April as an "important milestone" in the journey to pensions dashboards.

However, Vahey emphasised that the deadlines set out in the DWP's staging guidance are not all hard deadlines.

"Instead, The Pensions Regulator (TPR) is encouraging occupational pension schemes to meet these recommended dates," she added. "The worry must be that some will not make them, pushing connection out to later this year or next.

“We still have a long way to go in the pensions dashboard journey, but it’s a prize worth pursuing. People need to plan and save for their financial later years.

"But no one can do that without clear, robust information. The dashboard will hopefully make a difference in giving people the confidence to face up to their pension planning and make decisions to secure a brighter financial future.”

However, recent research from the Pensions Dashboards Programme (PDP) suggested that the “overwhelming” majority (90 per cent) of pension providers regulated by the Financial Conduct Authority (FCA) expect to connect to the pensions dashboards ecosystem in line with the dates set out in the staging guidance.

And whilst not all volunteer participants are expected to have connected by 30 April, industry regulators have previously confirmed that they will not be taking action against any pension provider or scheme unable to meet their dates solely because of this at the current time.

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