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DELIVERING the PENSIONS dashboard

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Presentation on theme: "DELIVERING the PENSIONS dashboard"— Presentation transcript:

1 DELIVERING the PENSIONS dashboard

2 DELIVERY OF PENSIONS DASHBOARDS IS NOW A LIVE PROGRAMME
COMPULSION ECOSYSTEM STANDARDS PREPARATION Pension Schemes Pension Providers Administrators Technology firms Government / Parliament Money and Pensions Service led industry Delivery Group Industry bodies and regulators Industrywide preparations to comply or volunteer OUTCOMES

3 WHERE ARE THE uk’S pension POTS?
PENSIONS DASHBOARD 4 WHERE ARE THE uk’S pension POTS? HIGH LEVEL OVERVIEW OF THE UK’S “PENSION POT LANDSCAPE" SCHEME STRUCTURE: STATUTORY PUBLIC SECTOR OCCUPATIONAL PRIVATE SECTOR CONTRACT/POLICY BASED PRIVATE SECTOR MASTER TRUST SIPPs/SSAS OTHER Benefit Type: DB DB & DC DC 13 Million 12 Million 20 Million 7 Million 8 Million

4 WHERE IS ALL THE DATA HELD?
PENSIONS DASHBOARD 5 WHERE IS ALL THE DATA HELD? DATA IS HELD ON MANY PLATFORMS SPREAD ACROSS THE INDUSTRY SCHEME STRUCTURE: STATUTORY PUBLIC SECTOR OCCUPATIONAL PRIVATE SECTOR CONTRACT/POLICY BASED PRIVATE SECTOR MASTER TRUST SIPPs/SSAS OTHER Benefit Type: DB DB & DC DC 13 Million 12 Million 20 Million 7 Million 8 Million ✚ 100 schemes ✚ Mainly In House ✚ Small no of systems ✚ 5,700 Schemes ✚ 80% TPA, 20% In House ✚ 10 systems ✚ 35,000 Schemes ✚ 20 insurers ✚ 20 systems ✚ 100 Trusts ✚ TPA/In House ✚ Over 100 providers

5 HOW BIG IS THE DATA CHALLENGE?
PENSIONS DASHBOARD 6 HOW BIG IS THE DATA CHALLENGE? EXPOSING ACCURATE DATA TO THE DASHBOARD IS ONE OF THE MOST SIGNIFICANT CHALLENGES TO OVERCOME SCHEME STRUCTURE: STATUTORY PUBLIC SECTOR OCCUPATIONAL PRIVATE SECTOR CONTRACT/POLICY BASED PRIVATE SECTOR MASTER TRUST SIPPs/SSAS OTHER Benefit Type: DB DB & DC DC ACCESS: QUALITY: COMPLEXITY: 13 Million 12 Million 20 Million 7 Million 8 Million


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