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FCA PS24/15: Final UK Framework for Pensions Dashboard Service Firms—Authorisation Gateway, Consumer Protections, Presentation Rules, Data Access, and Next Steps for Commercial Dashboards

Published on: 13 February 2025

Published by a LexisNexis Pensions expert
Legal News
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Article summary

What is the background to the FCA's policy statement?

A pensions dashboard is a secure online platform letting people view all their pensions in one place. DWP Guidance requires trustees of in-scope and FCA‑regulated schemes to have regard to a staged connection timetable: largest schemes by 30 April 2025, smallest by 31 October 2026. A MoneyHelper-backed government dashboard will be publicly available for connections, with commercial dashboards expected to follow. As private entities may provide these services, robust consumer protections and regulatory safeguards are needed. Therefore, operating a pensions dashboard service (PDS) is being brought within the FCA’s remit. In Spring 2024, the FCA consulted on the regulatory framework for PDS operators. Firms intending to run a PDS must:

  • be or become FCA authorised
  • obtain the FCA’s permission to undertake the new regulated activity
  • meet the FCA’s requirements for firms undertaking this activity...

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