Maurice Titley: Establishing the central digital architecture's connectivity with schemes marks a crucial milestone
Pension Fusion has become the first entity to have completed the full end-to-end pensions dashboards connection journey, onboarding the WTW-administered LifeSight Master Trust to the ecosystem as a result.
The move comes the day after Pension Fusion, Heywood, Legal & General (L&G) became the first three participant organisations to completed connection to the dashboards ecosystem.
The final step of the onboarding process was to complete operational acceptance testing (OAT) which consisted of receiving and successfully processing the first "Find Request" sent in the live PDP environment – a step that Pension Fusion has now completed with LifeSight.
LifeSight UK head Jelena Croad said the master trust's onboarding marked a really important milestone on the journey towards making dashboards a reality for pension scheme members.
She said: "Enabling people to see their pension pots in one place, in real time, and with clear financial information will make a huge difference to people's awareness of their retirement finances. LifeSight is proud to be a part of this important next step."
Pension Fusion is a partnership between Equisoft and Lumera.
Commenting on the milestone, Lumera commercial director and Pensions Administration Standards Authority dashboards working group chair Maurice Titley said: "The central digital architecture is the linchpin of pensions dashboards, and establishing its connectivity with schemes marks a crucial milestone.
"Our deep collaboration with the PDP and the innovative services we have developed, such as our flexible matching solution, has helped drive this progress. We're proud to have built an ISP that the industry trusts, enabling us to make a lasting, positive impact on the future of UK dashboards."
Equisoft product director Nick Meredith added: "This is a significant milestone for pensions dashboards that highlights just how close we are to having schemes and importantly consumers, connected to the ecosystem."
He continued: "Now that pensions dashboards are soon to become a reality, it is not the time to take our foot off the pedal. This really is the start of the journey for Equisoft, our clients and the industry as we prepare to stage more schemes, in readiness for the MoneyHelper dashboard consumer testing due to start later this year."
