The pensions dashboard initiative was supposed to enable savers to see all their pension schemes – including workplace pensions and self-invested personal pensions (Sipps) – on a single screen, but the launch has been repeatedly delayed by technical problems and arguments about how they should operate.
The pensions minister Laura Trott has confirmed that the deadline for pension schemes to connect to the digital architecture will now be 31 October 2026.
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Experts have expressed dismay at the latest delay.
Rocio Concha, director of policy and advocacy at the consumer group Which?, said: “Pensions dashboards have the potential to be a game changer by helping savers to keep track of their pots in one place. It’s hugely disappointing to hear that the date by which all schemes will be connected will be delayed by a further 12 months.
“With billions of pounds lost or dormant in unlocated pensions, the need for dashboards is stronger than ever. That’s why providers who are already in a position to comply should not wait to do so.”
Becky O’Connor, director of public affairs of the pension provider PensionBee, added: “The Pensions Dashboards project has been beset by difficulties and delays from the get-go. It is starting to feel like the train you wait for thats arrival time keeps being pushed back, before it is eventually cancelled. It’s vital for the UK’s millions of pension savers that this doesn’t happen.”
Savers often have little idea of what their overall pension position is, and many are losing track of small pots of cash. The typical Briton now pays into around a dozen pensions during their career, starting a new plan with each new employer. That makes it difficult to stay on top of planning for retirement.
“A highly complex undertaking”
However, some industry figures say that Trott’s most recent statement shows that the government remains committed to the delivery of pensions dashboards and provides some helpful clarity and flexibility for the pensions industry, despite the one-year delay to the final staging date.
Nigel Peaple, director of policy and advocacy, at the Pensions and Lifetime Savings Association (PLSA), said: “As we have said since the start of the programme, this is a highly complex undertaking, and early delivery is less important than successful delivery.”
It is understood that a general election scheduled between now and the revised deadline of October 2026 is unlikely to impact the project, as the dashboards project has cross-party support.
Keeping track of your pension pots
The solution for many savers struggling to keep track of their pension pots may be to consolidate them, moving all their different pots into a single plan that is easy to follow.
However, think carefully before doing so. Pension transfers are not always the right move. For example, if you have a defined-benefit plan such as a final salary scheme guaranteeing a certain level of pension in retirement, moving this money would almost certainly be unwise.
On the other hand, combining several defined contribution (DC) workplace schemes into one that has the lowest fees and decent investment options could save you money, and a lot of paperwork.
If in doubt, seek expert financial advice.
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