The FCA has opened a session into new steerage to be added to its Perimeter Steerage Handbook (PERG) because the much-delayed Pension Dashboards Programme continues to inch forwards.
The brand new steerage has been designed by the regulator to assist corporations perceive the scope of Pension Dashboards and when they’ll require permission to function one.
The FCA plans to make the Pensions Dashboards a regulated exercise. To pave the way in which for this the Authorities lately amended the Regulated Actions Order to convey the operation of a Pensions Dashboard service inside the scope of FCA regulation.
By bringing Dashboards into the scope of the FCA, working one is now a brand new regulated exercise.
The FCA advisable that every one corporations who present pensions and retirement planning providers learn the advised modifications to the PERG.
The FCA has referred to as for suggestions to its new session by 8 Could, with the brand new up to date Handbook anticipated to be printed in direction of the tip of this 12 months.
The session may be discovered on the FCA web site
Connections are as a consequence of begin in April 2025, giving the primary schemes to attach greater than a 12 months to make sure they’re prepared forward of the October 2026 launch deadline.
All 3,000 schemes coated within the first wave will likely be legally required to be linked to the dashboard system by 31 October 2026 on the newest.
The Pensions Dashboard Programme has confronted extreme delays.
Dashboards had been initially as a consequence of start in a check kind in 2023 however have confirmed to be far more technically advanced than initially thought.