Pensions dashboard operation to become regulated activity

Treasury has published a draft Statutory Instrument that will make operating a pensions dashboard service that connects to the Money and Pensions Service dashboards digital architecture a new regulated activity. This follows changes made by the Pensions Schemes Act 2021 and the Pensions Dashboard Regulations 2022, which introduced requirements for pension providers and schemes to connect to dashboards, and the requirements on organisations who provide qualified dashboard services.

Since this brings a new regulated activity within the scope of regulation, the law must be approved by both Houses of Parliament. Treasury plans for it to take effect from 11 March 2024.