Pensions Dashboards move closer as tenders open
The Pensions Dashboards Programme (PDP) has moved on a stage today with the opening of tenders for a supplier to provide the digital architecture that will allow people to view their pensions via their chosen dashboard.
The PDP, set up by the Money and Pensions Service (MAPS), is the body which has responsibility for making the Pensions Dashboards work.
Pensions Dashboards are planned to give pension savers an online, one-stop location to view most or all of their pension plans to make managing multiple pensions easier.
Although the digital tender process is now under way, Pensions Dashboards are unlikely to be available to pension savers until 2023 at the earliest, MAPS revealed last autumn. At the time, the government body said it would take a number of years for the dashboards to be ready for widespread use although programme set up will start to take place from early this year. The long delays have attracted criticism.
The digital architecture supplier chosen through the latest tender process will provide the major ‘engine’ components of the dashboard, including the pension finder service (PFS), the consent and authorisation service, and the governance register.
The PDP says it undertook two pre-tender market engagement exercises with potential suppliers in July 2020 and February 2021 to help finalise the digital architecture requirements.
The aim of the tender process is to find an end-to-end (design, build and operate) service solution, which will be procured via the Crown Commercial Service Technology Services 2 (TS2) framework.
Chris Curry, principal of the Pensions Dashboards Programme at MAPS, said: “We recognise that pension providers, schemes, administrators, trustees and ISPs want certainty and detail around timings and requirements for the delivery of Pensions Dashboards. With the support and cooperation of interested suppliers, we’ve been able to outline clear requirements for the dashboards’ digital architecture.
“The procurement and onboarding of this technical delivery partner is a key moment in our journey. It will enable us to provide our industry partners with more detailed information as we work towards the delivery of Pensions Dashboards over the coming months.”
A pre-tender engagement exercise has also been undertaken for the identity verification service aspect of the pensions dashboards. This will be a separate competitive procurement process, informed by the results of the initial engagement exercise, the PDP says.
Tenders must be submitted by 28 May with the contract and implementation period starting on 6 September.