Front-end dashboard rules must support feedback-based changes – DOC

Front-end pensions dashboard rules must support consumers’ requests for post-launch changes, the Dashboard Operators Coalition (DOC) has stated.

The newly formed group drew on experiences from other countries’ pensions dashboards and noted that dashboards will “definitely need to change” once launched, following consumer feedback.

It found that pensions dashboards in Belgium, Denmark, Norway, Sweden, and the Netherlands had developed and changed “enormously” since they were first launched.

These changes were based on extensive user feedback to ensure that dashboards meet consumers’ needs continually over time.

The DOC argued that the dashboards available point (DAP) was not the end of the dashboards project, but the start of a never-ending process of improvement so different types of UK consumers have a better experience going forward.

Commercial dashboards in the UK are regulated by three sets of controls: Department for Work and Pensions (DWP) regulations, Financial Conduct Authority (FCA) rules, and Pensions Dashboards Programme (PDP) standards.

The group noted that we do not know what changes will be needed until dashboards are launched and live feedback begins, which is why the four DOC member firms (Just Group, Legal & General, Moneyhub, and Standard Life) were keen for dashboards to be launched as soon as possible.

It pointed to potential example changes, such as to journey steps and visibility of defined contribution pension charges, which could require changes to DWP, FCA and PDP rules.

The DOC said its key role would be to amass and sift through consumer feedback, arguing it was “well placed” to do this as it would “represent providers of the most-used dashboards”.

“So wherever the FCA rules and PDP standards settle initially, it is a certainty that they will need to change in light of live usage consumer feedback,” commented DOC chair, Richard Smith.

“DWP, FCA and Maps PDP therefore all need to be nimble and make rapid changes to their regulations, rules and standards so that dashboards can continue to work well for different types of UK consumers.”

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