PENSIONS
Implications for employers As an employer or payroll team, what can you do to prepare in the meantime? At least three things: Get acquainted with the service From summer 2025 onwards, monitor announcements and updates on the progress of the MoneyHelper testing from the teams at MaPS. Get to know what the emerging service looks and feels like for consumers (See the screenshots in Figure 3). Support the MoneyHelper service testing The teams at MaPS are inviting groups of users to test the MoneyHelper service so there may be opportunities to get involved. Learnings from the testing will also be important for industry, for example, in relation to how well data matching is working. Think about the impact on your workers Think about the questions and support needs your workers may have once they have seen their total pension picture. What questions might they have? Might workers wish to increase pension contributions? If so, how easy is that journey? Links corner 1. March 2024 issue of Professional : https://ow.ly/lmtW50VA1ee 2. Consumers to have choice of 15 different pensions dashboards as four firms join coalition: https:// ow.ly/J3pM50VA1oW 3. UK Parliament written questions, answers and statements: https:// ow.ly/qJ4C50VA1rJ 4. How PDP is engaging with industry: https://ow.ly/iP0P50VA1Eu 5. Pensions dashboards: guidance on connection: the staged timetable:
Testing from summer 2025 onwards Citizen testing of the Government’s MoneyHelper dashboard 6 commences from summer 2025. Groups of real consumers, in ever- increasing numbers across different phases of testing, will be invited by MaPS to test the end-to-end system, finding and viewing their real pensions. These phases of testing will not only test consumers’ understanding of the pension information they see, but also ensure the whole ecosystem is operating securely as intended. You can get a sense of what it might feel like to actually use a dashboard from
this webinar, recorded in early April 2025, which can be found here: https:// ow.ly/n7Cl50VA29k (see screenshot in Figure 2). Launch date? Now the dashboards programme has made good progress, a key question employers and others are asking is: “When will the public be able to use the MoneyHelper dashboard?” We won’t know if the ecosystem is working securely, as expected, until numerous consumers have seen, and understood, their real pensions on the MoneyHelper dashboard in testing. So, it would be unwise to announce a launch strategy / date(s) until the first phases of citizen testing are complete. By the end of 2025, we should have a good understanding of how well the testing is going and thus a better idea of when, and how, we might see the MoneyHelper dashboard launched. That could be some time in 2026, or into 2027, but now, before testing starts, it’s too early to say.
https://ow.ly/QWAX50VA1MX 6. MoneyHelper Pensions Dashboard slides: https:// ow.ly/6WOq50VA237.
Find out more: The PDP: https://ow.ly/zRNI50VA3ht The Pensions Regulator’s dashboard guidance: https://ow.ly/Fnq750VA3pb The Pensions Administration Standards Association’s dashboards guidance: https://ow.ly/jlPq50VA3us.
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| Professional in Payroll, Pensions and Reward
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Issue 111 | June 2025
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