PS22/12: Pensions Dashboards rules for pension providers

Read PS22/12[2]

What we are changing

Our final rules require that FCA regulated pension providers must:

• complete connection to the digital architecture operated by the Pensions Dashboard Programme – which is a function of the Money and Pensions Service (MaPS)
• be ready to receive requests to find pensions, and search records for data matches
• be ready to return pensions information to the consumer’s chosen pensions dashboard

Who this is for

This publication will primarily interest:

• providers of individual and group stakeholder and personal pensions, such as life insurance companies and operators of self-invested personal pensions (SIPPs)
• consumers
• bodies representing the interests of consumers
• trade bodies representing pension providers

It will also interest:

• third party pensions administrators and software providers
• parties interested in offering a commercial integrated service solution to pension providers
• decumulation-only providers that are interested in offering accumulation products in the future
• individuals and firms providing advice and information in this area

Next steps 

Firms must implement our final rules by 31 October 2026. Firms must also have regard to the Department for Work and Pensions guidance - Pensions dashboards: guidance on connection: the staged timetable[4].

Background

Making these final rules satisfies a statutory duty placed on us by the Pension Schemes Act 2021. Together with the Government’s regulations[5] (which contain corresponding requirements for trustees of occupational pension schemes) and the MaPS’ standards published by Pensions Dashboard Programme, our rules contribute to making pensions dashboards a reality.

Pensions dashboards are secure digital interfaces that enable consumers to find and view simple information about their pensions that are not yet in payment. By equipping people with basic information about the pensions they have, consumers may find it easier to plan for retirement, get advice or guidance, and ultimately make informed decisions.