The Pensions Minister laid amending regulations in June 2023 that replaced the staged timetable for connecting pension providers and schemes to the Pensions Dashboards Programme's digital architecture with a single mandatory connection deadline of 31 October 20261. The programme had previously set 23 separate staging deadlines depending on pension schemes' size and type, with the first deadline on 31 August 2023 and the last on 31 October 20251. The change followed the Minister for Pensions' announcement in March 2023 that the programme would be reset, after delivery problems1.
In March 2024 the Department for Work & Pensions (DWP) published a revised staging timetable in guidance, to mitigate the risk that a large proportion of pension providers and schemes choose to connect close to the deadline, which could create capacity challenges for the programme1. Providers will be required to have regard to the guidance, including the timetable, but the dates will not be legally binding1. DWP has not yet specified when pensions dashboards will become available to the public, and this is expected to be later than previously expected because of the later connection deadline1.
The National Audit Office (NAO) set out the programme's costs and expected benefits in its investigation into the Pensions Dashboards Programme, published on 10 May 20241:
| Measure | Figure |
|---|---|
| Mandatory connection deadline | 31 October 20261 |
| Estimated cost to the Money and Pensions Service (MaPS), 2019-20 to 2031-32 | £289 million in cash terms1 |
| Estimated gross discounted benefits, 2022-23 to 2031-32 | £413 million1 |
| Spending on the programme, April 2019 to March 2024 | £59 million1 |
| Estimated cost to the pensions industry, 2022-23 to 2031-32 | £688 million1 |
| Estimated potential users in steady state | 16.3 million1 |
| Estimated value of lost pension pots in 2022 | £26.6 billion1 |
The estimated cost of the programme has risen from £235 million in 2020 to £289 million in 2023, an increase of 23%, or £54 million in cash terms1. The NAO attributed this to factors including an increase in supplier costs, changes to MaPS's underlying costing assumptions, and the period covered being extended by two years to 2031-321. The estimated net present social value of the programme has decreased from £268 million to £211 million1. MaPS now estimates benefits at £413 million, assuming dashboards become available in November 2026, compared with an earlier gross discounted benefit figure of £437 million that assumed availability from October 20241.
The NAO also reported that in September 2021 MaPS signed a five-year contract with Capgemini worth £44 million, with an option to extend for a further two years1. In July 2022 the Infrastructure and Projects Authority awarded the programme a "red" delivery confidence rating, indicating that successful delivery appeared unachievable, and in December 2022 MaPS told DWP that the programme's delivery timetable was no longer viable1. In April 2024 MaPS announced it had appointed a new senior responsible owner1.
"in June 2023 the Pensions Minister laid amending regulations that replaced the staged timeline with a single mandatory connection deadline of 31 October 2026"
Why it matters for households
Pensions dashboards are intended to let people view information about their pensions, including the State Pension, online, securely and in one place1. DWP expects them to help people plan better for retirement, make more informed financial decisions and connect with lost pension pots, so fewer people miss out on entitlements1. The NAO estimated the value of lost pension pots at £26.6 billion in 20221.
The connection deadline of 31 October 2026 applies to pension providers and schemes, not to the public. It is not yet decided when dashboards will be available to the public1, so no date has been reported for when people will be able to use the service. The NAO's estimate of 16.3 million potential users in steady state is used to calculate the programme's benefits1.
The costs fall on two groups: MaPS, whose estimated delivery cost is £289 million in cash terms from 2019-20 to 2031-32, and the pensions industry, whose estimated delivery cost is £688 million from 2022-23 to 2031-321. The NAO's work was not designed to assess the value for money of the programme1.
What happens next
The mandatory connection deadline for pension providers and schemes is 31 October 20261. The revised staging timetable published in guidance in March 2024 is not legally binding, though providers will be required to have regard to it1. Connections to the digital architecture are scheduled to be completed in 2026-27, after which MaPS will transition the programme to business as usual1. No date has been reported for public availability of dashboards1.
For background on private and workplace pensions, see our guide to pensions, including when you can access a private or workplace pension. Our pensions hub covers the wider system, and we explain pensions dashboards and finding lost pensions through the Pension Tracing Service.
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