Pensions dashboards are expected to be used primarily during major life events such as retirement, redundancy and job changes, although schemes could face a surge in member enquiries following launch, according to research from WTW.

A poll of UK trustees and pension scheme managers found that 43 per cent expected members to turn to dashboards at pivotal life moments, while 40 per cent believed usage would depend on prompts in scheme communications.

Just 13 per cent anticipated that members would use dashboards regularly and proactively.

WTW said the findings suggested that dashboards alone were unlikely to generate sustained engagement and that communications strategies should instead focus on the points at which members were most likely to take action.

WTW Pensions Outsourcing senior director, Geraldine Brassett, commented on the findings: “It’s becoming clear that dashboards will be most powerful at moments that matter to members.

“Schemes should not assume that access alone will drive engagement. Targeted communications, aligned to life events, will be critical if dashboards are to translate into better decisions and outcomes.”

The polling also identified increased member enquiries as the leading operational concern following the launch of dashboards.

More than a third of respondents (39 per cent) cited managing higher enquiry volumes as the main post-launch challenge.

Data accuracy was noted as another significant risk, with 36 per cent of respondents naming it as a primary concern.

WTW warned that poor-quality information could undermine confidence in dashboards and damage trust in schemes, particularly as the initiative brought historic and legacy data issues into greater focus.

Despite the operational risks, the majority of respondents were optimistic about the potential impact on member engagement.

More than three-quarters (76 per cent) expected dashboards to produce at least a moderate increase in engagement after launch.

However, WTW noted that most respondents believed the increase would be concentrated among members who were already engaged with their pensions unless schemes invested in more proactive communications and support.

The consultancy argued that dashboards should therefore be viewed as a catalyst for improved engagement rather than a complete solution.

Their effectiveness, it suggested, would depend on how well schemes managed the surrounding member experience, including communications, administration capacity, data preparation and support for members seeking to act on the information presented.

Brassett added: “Dashboards represent a significant step forward in how members access their pension information.

“But the real test will be what happens next: how schemes respond to increased demand, how they maintain data quality, and how they support members in turning insight into action.”

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