With the Pensions Dashboard connection for all in-scope UK pension schemes and providers due by the final statutory deadline of 31 October this year, the pensions experts at Everywhen today reveal that 80% of employers still know little or nothing about it.
Everywhen’s research1 shows that just one in five employers (20%) said they know a lot about the Pensions Dashboard. While 38% said they know a bit about it, 20% had heard of it but know nothing about it, and 21% have not heard of the Pensions Dashboard at all.
Sorangi Shah, client director and pensions expert at Everywhen, said: “We encourage employers to keep track of the Pensions Dashboard developments as it will be a powerful way of boosting pension engagement for their employees.”
The Pensions Dashboard is a government initiative to allow individuals to view all their pensions – state, personal and workplace – in one place, online. Joining the Pensions Dashboard is mandatory for all UK occupational pensions schemes with 100+ members and FCA-regulated personal and stakeholder pension providers.
The legal responsibility for connection and compliance sits with pension scheme trustees and providers. Whilst employers themselves have no direct legal obligations under the Pensions Dashboards framework, they can play a valuable supporting role by maintaining accurate employee data and helping raise awareness among employees.