‘Small Pots’ and Pensions Dashboards Update

Date:

18 May 2021 12:00 to 13:30

Venue:

Virtual Forum Seminar

Chairperson:

Mike Sullivan, Trustee Director, AA Pension Trustees Limited

Details:

We provided an update on some current industry issues.

‘Small Pots’ Update

Key issues to be addressed include:

What are the most important recommendations and solutions proposed in the recent publication of the report from the Small Pots Working Group chaired by DWP?
How effective are they likely to be?
What additional challenges would any solution pose for pension schemes and providers?
Should any solution be ‘member-led’ or ‘provider/pension scheme-led’?
How will this impact Auto Enrolment going forward and how should these issues be communicated effectively with members?
What happens to orphan assets?
What will it all cost?

Pensions Dashboard Update:

With the recent announcement that the Pensions Dashboard launch has been pushed back until 2023, what are the practical challenges for schemes to deliver this in 2023?
What are the latest updates on development plans for the Dashboard and does the latest date offer a realistic timeframe for delivery?
What should schemes be doing now to ensure data is clean and available in an appropriate form?
Will the ability for members being able to see pension information in one place necessarily lead to better outcome for members? Should schemes and trustees play a more proactive role to ensure members get better outcomes?
What challenges could the Dashboard provide in terms of members’ communication and engagement?
What will it all cost?