Commenting on today’s announcement of the DWP Further Consultation on the draft Pensions Dashboards Regulations 2022, Karl Lidgley, client manager for third-party administration, Hymans Robertson, says:

“It is good to see the second consultation from the DWP look to confirm, and provide certainty, to administrative providers of the timescales the dashboard will bring. However, while greater certainty is most welcome we believe that the 90 day goal does not provide enough scope in the current climate to match resource requirement to meet anticipated demands. There is not capacity in the industry to deal with the extra member engagement that dashboards are likely to generate for administrators, profitability is tight and resourcing to meet these needs, at 90 days’ notice, will be almost impossible in the current recruitment market. We would encourage the DWP to work with providers, in a live environment, as part of a trial launch to make sure full testing takes place and effective functionality and timescales are imbedded, prior to a full market launch to minimise disruption and ensure the industry is ready.”