Pension trustees have been urged to act ahead of the looming Pensions Dashboard staging dates to avoid unnecessary costs, protect member benefits and ensure a smooth transition.

Pension specialists Cartwright warned that the costs associated with the Pensions Dashboard risked becoming “dead money.”

It said trustees of smaller schemes close to their end should consider alternatives such as winding up.

All UK pension schemes within the scope of regulations are required to connect to the Pensions Dashboard, with the first staging dates set for April. That is for large schemes initially and then the rules will filter down to include small schemes by 31 October 2026.

Cartwright pointed out that connecting to the Dashboards brings significant costs, particularly for smaller schemes, who are likely to be most affected.

Initial setup fees for small and medium schemes range from anything between £30,000 to £100,000, in addition to ongoing maintenance fees based on membership numbers.

Julie Yates, director of administration at Cartwright, said: “Trustees need to question whether these expenses truly serve their members’ best interests, particularly for schemes nearing their endgame, where compliance is only required for a limited period.

“Instead of incurring significant fees to comply with dashboard requirements that may only apply for a short time, schemes should take a step back and consider whether alternative options—such as transferring or consolidating—might deliver better value and outcomes.

She said that well-funded smaller schemes could complete a buy-in and winding up within two years, bypassing unnecessary dashboard costs while fully protecting members’ benefits.

Ms Yates said: “The reality is that schemes must act now to explore their options and secure a more cost-effective endgame. The window to act is closing. Those who delay risk missing the chance to avoid unnecessary costs and deliver the best outcomes for their members.”