PASA publishes guidance on dashboard value data

Guidance looks at good practice approaches to providing value data to dashboards

Holly Roach
clock • 1 min read
Kim Gubler: The guidance is designed to help schemes avoid considering the same issues from scratch

Kim Gubler: The guidance is designed to help schemes avoid considering the same issues from scratch

The Pensions Administration Standards Association (PASA) has published guidance on pensions dashboards values.

The guidance sets out ‘good practice' approaches to providing value data to the dashboards, and was launched for us by both defined benefit and defined contribution schemes.

The guidance looks at a range of issues including possible approaches for dealing with issues such as late retirements, underpins, partial retirements and split normal retirement ages.

It looks to provide schemes and administrators with guidance on good practice and to avoid many organisations considering the same issues from scratch, and to provide savers with, wherever possible, a consistent approach to the information provided to dashboards where this isn't prescribed in legislation or standards.

Also, to support the idea schemes should, where possible, reuse information already provided to savers and which they will be familiar with, and to minimise the possible additional strain on operational delivery immediately after the dashboards available point and on an ongoing basis.

PASA noted: "There's no simple answer to how trustees should deal with schemes with multiple administrators. The best approach will vary from scheme to scheme, depending on its circumstances, and this guidance can aid trustees in making these choices."

Chair Kim Gubler said: "In some areas, the dashboard regulations and standards are unlikely to provide the level of detail needed. This is intentional so schemes can decide the best approach according to their rules and circumstances to provide the optimum solution for their savers. This guidance is designed to help schemes avoid considering the same issues from scratch."

More on Admin / Technology

Rory Murphy: Keeping member records accurate can improve outcomes for savers

Industry can and should do better on record keeping inaccuracies

Rory Murphy says members end up footing the bill for poor scheme and provider service

Rory Murphy
clock 26 September 2023 • 3 min read
Quietroom's Simon Grover: A good starting point for member communications

Consortium of schemes launch GMP equalisation member comms toolkit

Suite of free-to-use tools were developed in partnership with Quietroom

Jonathan Stapleton
clock 20 September 2023 • 4 min read
TPR says it has been working closely on a pilot project to better understand TPAs' needs

TPR to 'work more closely' with pension administrators

Blog outlines how success of recent pilot project led to better TPA engagement

Jasmine Urquhart
clock 13 September 2023 • 2 min read