DB trustees and scheme managers must take action now to ensure the eventual move to pensions dashboards is as straightforward as possible, according to Hymans Robertson.
This warning comes as the pension consultant launches a new guide to help trustees navigate their way through this new landscape.
This guide outlines the various actions trustees can take to prepare for the dashboard, and the steps required to manage the transition.
Commenting on the release of the guide, Pensions Dashboards Are Coming, Hymans Roberston partner Laura McLaren says: “The momentum around pensions dashboards has been building for many months, but with a recent increase in activity, it is now more important than ever for trustees and scheme managers to start thinking about what needs to be done to prepare.
“The final go-live date is yet to be set in stone, however, we expect the majority of schemes to be connected in 2024. Pensions dashboards will be a monumental change for the industry, and considering the actions required will help make the transition easier to manage.
“Our guide sets out the steps DB trustees can follow to make sure they have a detailed understanding of what needs to be done to ensure they are in a prime position as the dashboard switch begins.”
