About this session
Goal of the session
The aim of this session, is to hunt views on two components of the draft Pensions Dashboards Laws, and on an extra supporting measure. The draft Pensions Dashboards Laws, which have been topic to a broader session earlier this 12 months, make provision for the necessities to be met by pension dashboard providers or the suppliers of those providers, and by trustees or managers of related occupational pensions schemes (which means occupational schemes which aren’t stakeholder pensions schemes) in Nice Britain (England, Scotland and Wales).
As well as, the division has an obligation below Article 36(4) of the UK Common Knowledge Safety Regulation (UK GDPR) to seek the advice of the Data Commissioner in the course of the preparation of legislative measures relating to the disclosure of knowledge.
Issued: 28 June 2022.
Reply by: 19 July 2022.
Territorial extent: This session applies to England, Wales and Scotland. It’s envisaged that Northern Eire will make corresponding laws.
Who this session is aimed toward
We welcome views from any events. We’re significantly eager to listen to from:
people with a UK pension
pensions and lifelong financial savings industries
finance and client consultant teams with an curiosity in pensions functionality, monetary functionality, information safety and safety
trustees or managers of occupational pension schemes
pensions directors
pensions administration software program suppliers
companies fascinated about providing Built-in Service Supplier (ISP) providers
Monetary Know-how (Fintech) corporations
The Data Commissioner
organisations fascinated about establishing pensions dashboards
How to reply to this session
Please present your session responses, utilizing the shape on the session webpage, and electronic mail to: pensionsdashboard@dwp.gov.uk
When responding please point out whether or not you’re responding as a person or representing the views of an organisation.
Authorities response
We’ll publish the federal government response to the session on the GOV.UK web site. The federal government response will summarise session responses and set out the federal government’s proposed subsequent steps.
Session ideas
This session is being carried out according to the revised Cupboard Workplace session ideas revealed in 2018. These ideas give clear steerage to authorities departments on conducting consultations.
Confidentiality and information safety
The data you ship us might have to be handed to colleagues inside the Division for Work and Pensions (DWP) and could also be revealed in a abstract of responses obtained and referred to within the revealed session report. We additionally anticipate that we might share data with our key working companions: the Monetary Conduct Authority (FCA), the Pensions Regulator (TPR) and the Cash and Pensions Service (MaPS) by the Pensions Dashboards Programme (PDP). All data contained in your response, together with private data, could also be topic to publication or disclosure if requested below the Freedom of Data Act 2000.
By offering private data for the needs of the general public session train, it’s understood that you just consent to its disclosure and publication. If this isn’t the case, it is best to restrict any private data supplied, or take away it fully. In order for you the data in your response to the session to be stored confidential, it is best to clarify why as a part of your response, though we can not assure to do that.
Suggestions on the session course of
We worth your suggestions on how effectively we seek the advice of. When you’ve got any feedback concerning the session course of (versus feedback concerning the points that are the topic of the session), together with in case you really feel that the session doesn’t adhere to the values expressed within the session ideas or that the method may very well be improved, please handle them to:
DWP Session Coordinator
2nd Flooring
Caxton Home
Tothill Avenue
London
SW1H 9NA
E mail: caxtonhouse.laws@dwp.gov.uk
Government Abstract
Goal and scope of this session and draft Laws
This session is the second of two public consultations on the draft Pensions Dashboards Laws 2022 which is able to introduce pensions dashboards, an digital communications service to be used by people to entry details about their pensions.
The primary session, launched in January 2022, included an indicative draft of the Pensions Dashboards Laws 2022[footnote 1].
The Laws included:
the necessities to be met by pensions dashboard providers and their suppliers (to ensure that a pensions dashboard service to be a “qualifying pensions dashboards service”)
the necessities on trustees or managers of related occupational pension schemes in relation to co-operating with and connecting to the Cash and Pensions Service (MaPS) and the info they need to present to people by way of MaPS
provisions for TPR to take enforcement motion in relation to pension schemes that don’t comply
We’re grateful for the vary of responses we obtained to that session. We shall be publishing a full authorities response in the end. Having fastidiously thought of responses to the primary session, this additional session pertains to 2 particular issues:
Dashboards Obtainable Level (DAP) – offering readability inside the Laws on the DAP following consideration of responses to the primary session
Disclosure of knowledge between MaPS and TPR – further provisions within the Laws enabling sharing of knowledge by MaPS with TPR in relation to pensions dashboard providers to help the operating of the pensions dashboards ecosystem (which means the interconnected system that may allow pensions dashboard providers to work). As well as, we suggest by separate statutory instrument made below part 86(2) of the Pensions Act 2004 to amend Schedule 3 to that Act, to allow TPR to share restricted data with MaPS the place TPR considers that disclosure would allow or help MaPS to train its features in reference to the Pensions Dashboards Laws
Included at Annex A and Annex B are indicative drafts of those two provisions for proposed inclusion within the draft Pensions Dashboards Laws. The proposed Order to amend Schedule 3 just isn’t included, though this session seeks views on the proposed coverage strategy. This session incorporates questions on particular points the place we want suggestions. Responses to the session will assist to tell the drafting of the Laws.
Dashboards Obtainable Level (DAP)
1. As outlined in our January 2022 session, we imagine that in the long run, pensions dashboards might help with the next targets:
a. Improve people’ consciousness and understanding of their pension data and estimated retirement earnings to construct a higher sense of management and possession
b. Reconnect people with misplaced pots
c. Improve engagement with extra individuals accessing neutral steerage and monetary recommendation that’s obtainable
d. Assist the steerage and recommendation processes by offering individuals with entry to their pensions data at a time of their selecting
e. Allow people to make extra knowledgeable selections within the decumulation part by making it simpler to entry among the data on which to base their selections
2. The Dashboards Obtainable Level (DAP) is the purpose at which pensions dashboards providers, as supplied for within the Laws, shall be made obtainable to all members of the general public. This shall be on the level at which we imagine enough progress has been made to display that pensions dashboards can start working to satisfy our said targets.
3. The DAP just isn’t a brand new idea. It’s one which now we have communicated publicly as proposals for pensions dashboards have developed. Throughout the responses to our session on draft Laws which closed in March, we obtained a spread of suggestions on the DAP. Respondents emphasised that:
a. The DAP have to be fastidiously chosen:
i. Some flagged that pensions dashboards ought to cowl a enough proportion of the inhabitants searching for to view their pensions data earlier than the DAP
ii. The Pensions and Lifetime Financial savings Affiliation (PLSA) highlighted that the DAP must be based mostly on a spread of standards which were fastidiously examined and goes past simply attaining a sure degree of protection. The division expects the proof which is able to form the DAP standards to emerge by non-public Beta testing when the Programme can take a look at the service with invited customers at scale
b. They might worth extra certainty across the DAP to make sure schemes are ready for a rise in queries, can cope operationally and may successfully handle communication to their members.
c. There was a view that the DAP must be agreed on between DWP, the MaPS, TPR and the FCA. Many have been involved that the DAP might in any other case be chosen to tie in with the provision of State Pension information. DWP has dedicated to offering State Pension information from the DAP. Respondents have been involved that the provision of State Pension information may very well be the important thing figuring out think about when the DAP is except agreed with MaPS, TPR and the FCA.
d. Some questioned whether or not a number of, incremental DAPs had been thought of and whether or not this was a beneficial strategy to 1 single DAP. Respondents felt this strategy would guarantee the very best expertise, by permitting the efficient monitoring of success and efficiency over time, while additionally delivering excessive ranges of safety.
4. Having listened to this suggestions, we’re proposing to incorporate a provision on the DAP inside the Pensions Dashboards Laws. We need to give pension schemes, potential dashboard suppliers and members of the general public an extra alternative to supply significant suggestions on the proposal.
5. We suggest that the DAP provision will define that pensions dashboard providers will grow to be obtainable to be used by the general public from a date that’s to be laid out in a discover issued by the Secretary of State for Work and Pensions. Previous to this date, a managed set of volunteer information suppliers will connect with the dashboards ecosystem to check its efficient functioning. The PDP has labored with business to determine suppliers to be concerned on this testing work.
6. It’s proposed that, in figuring out the date for the DAP, the Secretary of State have to be happy that the dashboard ecosystem is able to help the widespread use of qualifying pensions dashboard providers. This consists of consulting with MaPS, TPR and the FCA in addition to having regard to issues resembling safety and conformance testing.
7. To make sure that business has enough lead in time from the DAP being introduced to the purpose at which it happens and to make sure that a spread of user-focused standards (resembling matching, readability and consumer comprehension) are sufficiently developed, the Secretary of State shall be required to provide discover of when the DAP shall be upfront and should publish the discover on the GOV.UK web site. DWP, in partnership with MaPS, will take steps to publicise the DAP to assist construct engagement and drive people to dashboards from the beginning.
8. We anticipate the formal announcement of the DAP by the Secretary of State to be a closing affirmation. The federal government is dedicated to working transparently with MaPS and business to supply updates on our plans for the DAP effectively upfront of this formal discover. There shall be important communications between the Authorities, MaPS, and business within the lead as much as any announcement and so on the level at which the DAP is introduced, it shouldn’t come as a shock.
9. It’s important that the discover interval (the interval between the discover being issued and the Dashboards Obtainable Level) strikes the suitable steadiness. On one hand, it have to be a enough size of time to make sure business could make closing preparations, then again, we don’t want it to be too lengthy as a result of it have to be attentive to testing and sure standards having been met. With that in thoughts, we suggest three months between the announcement and the DAP occurring.
10. As outlined in paragraph 8, we are going to proceed to work transparently with business on progress in direction of the DAP from the purpose at which the Laws are made. We due to this fact imagine 90 days discover is enough as the purpose at which a closing affirmation of the DAP is made.
Session query 1
Do you agree that 90 days is an inexpensive interval between the DAP formally being introduced, and the DAP itself?
Disclosure of knowledge – The Pensions Regulator and the Cash and Pensions Service
1. MaPS and TPR have key roles to play within the operation of pensions dashboard providers and have to work collectively to successfully set up and join schemes to the dashboard ecosystem, and to make sure the safe ongoing supply of the pensions dashboards providers.
2. The PDP, as a part of MaPS, is accountable for growing the pensions dashboards ecosystem, which is able to allow people to view all their pensions information by way of their chosen dashboard. TPR maintain key data to allow planning for implementation, shall be supporting the safe onboarding of schemes, and are accountable for guaranteeing the compliance of pension schemes with their legislative necessities.
3. To hold out these actions in a safe and environment friendly approach, the PDP and TPR want to have the ability to share data with one another about schemes. With this in thoughts, now we have drafted a brand new provision to ascertain a transparent energy to expressly allow MaPs to reveal data to TPR in relation to pensions dashboard providers to help their work particularly within the context of the Pensions Dashboards Laws.
4. A short description of this new provision, contained in Annex B, is as follows:
Paragraph (1) units out that MaPS might share data with TPR for the aim of enabling or aiding MaPS or the Regulator to train its features in reference to these Laws
Paragraph (2) units out that sharing of this data doesn’t breach any obligation of confidence or every other restriction nevertheless imposed – although paragraph (3) stipulates that these provisions don’t override Knowledge Safety laws
Paragraph (4) confirms that these provisions don’t restrict different powers to reveal data or how data can in any other case be shared
5. As well as, we intend to introduce an Order below part 86(2) of the Pensions Act 2004 to amend Schedule 3 to the Pensions Act 2004 – to allow TPR to share restricted data with MaPS in respect of MaPS dashboards features. TPR have already got the ability to share data in relation to their very own features below part 84 of the Pension Act 2004.
6. Offering an influence to reveal data on this approach is in line with different disclosure provisions which can be already in place for each our bodies. For instance, each TPR and MaPS have categorical powers to share data with FCA.
7. Each our bodies could have governance measures in place to handle the stream of the data, entry to it and use of it – in the same solution to how their present powers to reveal data are managed. They may have a complete information sharing settlement in place which shall be revealed.
8. Some examples of what this implies in follow and why it’s wanted, embody the next:
TPR is the one physique who holds sure related details about pension schemes by way of its Scheme Register, which is important for MaPS planning for implementation, and for safety functions
MaPS shall be aware of information and administration data that arises from the operating of the dashboards ecosystem that shall be key for TPR to carry out its compliance features
TPR is the physique with features to make sure compliance of related occupational pension schemes with the necessities as set out within the Laws, and MaPS is the one physique in a position to join or disconnect a scheme
9. Typically, the kind of data to be shared pertains to scheme information and information referring to dashboard processes. We don’t anticipate this to usually embody the sharing of non-public information – nevertheless attainable exceptions embody:
the place the contact particulars for a scheme or scheme finish level embody an electronic mail handle or phone quantity identifiable to a person; or,
the place a person’s information could be a part of an investigation into non-compliance (which is enabled below current powers below part 84 of Pensions Act 2004)
10. Extra particularly – some examples are listed under setting out among the information that will be shared below the draft provisions, and the way it will be used. These lists will not be exhaustive. It’s important that the supply displays the character of the our bodies working collectively in partnership in a dynamic and evolving supply atmosphere. The proposed energy to share data below these provisions is, nevertheless, restricted to data in reference to the dashboard features of MaPS and TPR as supplied for within the draft Laws.
11. MaPS information to be shared with TPR below the draft Pensions Dashboards Laws – examples embody:
PDP dashboards ecosystem information shall be utilized by TPR to undertake its features below the Pensions Dashboards Laws, particularly, to facilitate compliance by trustees or managers of their duties below the Laws and TPR’s wider operate to take such ancillary actions conducive to facilitate this
the info TPR will obtain will embody the next broad classes (observe this isn’t a whole listing of knowledge gadgets):
i. Preliminary connection / registration information – to allow TPR to observe compliance and undertake appropriate interventions when non-compliance has occurred
ii. Ongoing connection standing information – to allow TPR to observe compliance and undertake appropriate interventions when non-compliance has occurred
iii. Scheme endpoint information – the scheme endpoint is the software program / supplier the scheme is utilizing to hook up with the ecosystem (for instance whether or not it’s an in-house system, a third-party administrator or an ISP getting used to attach). The info will contextualise different information obtained as help for the monitoring of compliance, for instance whether or not one or a number of endpoints require monitoring for connection
iv. Administration data abstract relating to discover and think about requests – to observe discover and think about exercise on the scheme degree and detect any potential dangers of underperforming connections for comply with up engagement / investigation
v. Contextual information – for instance the matching standards utilized by a scheme. To help the evaluation / monitoring of compliance and detection of non-compliance dangers
vi. Compliance information – when TPR wants additional data from PDP in relation to a selected scheme(s) and wish PDP to look its information to supply detailed data and help in respect of its regulatory features
vii. Reporting supplies – that MaPS shall be receiving from pension schemes
12. TPR information to be shared with MaPS below a proposed statutory instrument to amend Schedule 3 to the Pensions Act 2004 – examples embody:
Session query 2
Do you’ve gotten any feedback on the proposed powers to reveal data?
Listing of session questions
We ask that you just present your reasoning to your solutions to the session questions that you just reply to.
Session query 1: Do you agree that 90 days is an inexpensive interval between the DAP formally being introduced, and the DAP itself?
Session query 2: Do you’ve gotten any feedback on the proposed powers to reveal data?
Annex A: Draft Dashboards Obtainable Level (DAP) provision
Dashboards Obtainable Level:
1. Qualifying pensions dashboard providers are to be obtainable to be used by most people from a date to be specified (“the Dashboards Obtainable Level”) in a discover issued by the Secretary of State.
2. Previous to the Dashboards Obtainable Level, qualifying pensions dashboard providers are solely obtainable to be used by people who’re invited by or on behalf of the Cash and Pensions Service to make use of pensions dashboard providers for testing functions.
3. The Secretary of State should concern a discover to specify the Dashboards Obtainable Level a minimum of 90 days earlier than the Dashboards Obtainable Level.
4. Earlier than issuing a discover to specify the Dashboards Obtainable Level, the Secretary of State have to be happy that the dashboards ecosystem is able to help widespread use of qualifying pensions dashboard providers by most people:
a. having regard particularly to issues resembling safety and conformance testing, and
b. following session with the Cash and Pensions Service, the Regulator and the Monetary Conduct Authority
5. As quickly as moderately practicable after issuing the discover, the Secretary of State should publish the discover on the GOV.UK web site.
6. After publishing the discover, the Secretary of State should take steps to publicise the Dashboards Obtainable Level.
Annex B: Draft Disclosure of Data provision
Half 5 Disclosure of Data
Disclosure of knowledge by the Cash and Pensions Service
1. The Cash and Pensions Service might disclose data to the Regulator, supplied that the disclosure is for the aim of enabling or aiding the Cash and Pensions Service or the Regulator (because the case could also be) to train its features in reference to these Laws.
2. Besides as supplied by paragraph (3), the disclosure of knowledge below this regulation doesn’t breach:
a. any obligation of confidence owed by the individual making the disclosure, or
b. every other restriction on the disclosure of knowledge (nevertheless imposed)
3. This regulation doesn’t authorise a disclosure of knowledge if the disclosure would contravene the info safety laws, the place “the info safety laws” has the identical which means as within the Knowledge Safety Act 2018 (see part 3 of that Act).
4. This regulation doesn’t restrict the circumstances wherein data could also be disclosed aside from this regulation.
