But this is only the start.
About 60 million pension records are already connected to the Pensions Dashboards infrastructure, alongside tens of millions of State Pension records, roughly three quarters of all relevant records. It is a remarkable achievement.
The pensions community has done an incredible job to get here. The Pensions Dashboard Programme, MaPS, PASA, regulators, software providers, ISPs, administrators and trustees have all stepped up. This is especially impressive given the age and limited flexibility of much of the UK’s technology base.
What’s happened so far?
Many administration systems are decades-old monoliths that don’t share data easily, making them poorly suited to an on-demand, interconnected world. Administrators have largely overcome this by copying data to third-party integrated service providers (ISPs), leaving the connectivity burden to them.
This was essential to meet deadlines and it’s worked. ISPs enable legacy systems to connect while reducing the number of organisations the Pensions Dashboard Programme must manage.
The industry is now well placed to meet the 31 October 2026 connection deadline.
What have we learned?
The connection process has stress-tested pensions infrastructure and exposed some fragilities.
AVCs remain something of a Cinderella in the pensions world, loosely coupled to main schemes and often overlooked. Schemes have struggled to engage providers, synchronise data and align illustration dates.
Administrators, by contrast, have excelled. Most have delivered successful programmes. Third-party administrators (TPAs) have taken broadly similar approaches, but commercial models vary widely.
Is everything sorted?
Most schemes should be ready for connection, but longer-term risks are emerging.
For example, Trustees may be two or three steps removed from ISPs via administrators and system providers. Each party typically limits liability to its direct client and modest levels. Trustees could be left holding the can if something goes wrong further down the chain, relying on insurance as a backstop.
When will dashboards go live?
The short answer is: nobody knows.
The Secretary of State will consider reliability, coverage and user testing before giving six months’ notice. Coverage is already high, and reliability testing is well understood.
MoneyHelper user testing is expected to conclude around June 2026. Allowing time for assessment, an announcement in September with a go-live around March or April 2027 seems plausible.
How will users react?
Again, nobody knows for certain. People don’t always behave in the wild as they do under observation, which is why software is typically released as soon as it is safe, to see what people actually do.
International experience offers a guide. Over time, around 30% of the working population registers, each logging in roughly 10 times a year. It may take time to reach that level, but it provides a helpful baseline.
Even then, schemes and administrators should expect increased enquiries - members questioning data, exploring transfers or reviewing contributions. Trustees should actively discuss how operational capacity will scale post go-live.
Volumes will also depend heavily on publicity. With over 3.3 million lost pension pots worth more than £30 billion, a “cash in the attic” style campaign could generate significant interest.
Estimated retirement income (ERI) figures will also be key. Members are keen to see what their savings might translate into in retirement, not just the value of their pots today.
What happens next?
Once members find lost pots or recognise the urgency of their own adequacy challenge, many will want further help. The MoneyHelper dashboard stops short of advice, and commercial dashboards may still be some way off.
Schemes need to be ready not just for higher volumes, but to guide members towards appropriate next steps. Without this, members risk relying on friends, ChatGPT or TikTok, which may not be as reliable as they need.
A foundation to build on
Dashboards represent the biggest step change in pensions engagement for decades. Much of the hard work has already been done, with focus rightly on data, calculations and connectivity.
But as staging draws to a close, it is worth remembering that connection is not the end point it is the starting line.
The challenge now is how to build on this foundation: supporting members once they engage, scaling to meet demand, and turning visibility into better outcomes.
If we get that right, dashboards will not just be a technical success they will deliver on their promise of transforming how people understand and engage with their pension.
Dan McLaughlin, UK Country Head – Festina Finance
