Pensions dashboards liability clarification needed 'urgently'

Pension schemes and providers could face multiple challenges in implementing pensions dashboards, with further detail on the liability model for dashboards required "urgently", according to the Pensions Administration Standards Association (Pasa).

In its response to the government consultation, the association raised concerns over the lack of clarity provided by the government on the liability model for pension dashboards, suggesting that further detail was required “urgently”.

In particular, Pasa called for clarification from both The Pensions Regulator (TPR) and the Information Commissioner’s Office on how the dashboard regulations and data protection regulations will work alongside each other, and how they will be enforced.

Pasa Dashboards Working Group chair, Rob Dodson, argued that “it’s vital the operational and administrative sectors of the industry can input into plans and have clear and advanced notice”, highlighting the dashboards accessible point (DAP) as the “crucial point in the delivery of dashboards”.

He also warned that schemes and providers foresee multiple risks and challenges ahead, suggesting that “many of these risks have never had to be considered before, and never at the scale and demand we are expecting to face for dashboards”.

Dodson continued: “It’s important we can use the DAP, or ideally, multiple incremental DAP’s to control and monitor performance and success over time. This will ensure we’re able to deliver the best possible experience to consumers while delivering high levels of protection.

“Our main area of concern in the consultation is the lack of clarity around the liability model. Further detail is urgently required.

“We need more information from both TPR and the Information Commissioner’s Office on how the dashboard regulations and data protection regulations will work alongside each other, and how they will be enforced.”

Adding to this, Pasa chair, Kim Gubler, commented: “Pasa welcomes DWP’s consultation on the draft Pension Dashboard Regulations 2022 and the clarity provided in key areas such as data, value data, staging and reporting requirements.

“The Pasa Dashboards Working Group has considered and responded to the consultation highlighting the importance of the wider impacts surrounding the delivery of dashboards.

“It’s key for the pensions dashboards ecosystem to be considered as part of the wider interconnected pensions system and be delivered in line with a strategic plan allowing all parts of the industry to work together successfully.”

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