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The FCA's November 7, 2024, policy statement outlines final rules for commercial pensions dashboard services, prioritizing the non-commercial MoneyHelper dashboard. Rules take effect November 30, 2024, with commercial applications delayed pending further industry notice.
On November 7, 2024, the FCA published a policy statement on the regulatory framework
for pensions dashboard service firms, in which it summarises
feedback and responds to both its previous consultations.
The policy statement sets out the rules firms operating a
commercial pensions dashboard must follow. The FCA notes that the
Government has announced that the Pensions Dashboard Programme will
prioritise the launch of the MoneyHelper dashboard service, which
is the non-commercial dashboard provided by the Money and Pensions
Service, before connecting commercial dashboard services.
The final rules and guidance are set out in the Pensions
Dashboard Service Instrument 2024, which come into force on
November 30, 2024.
Although the FCA has finalised its rules, it is not yet
accepting applications for the operation of commercial dashboards.
However, it has assured the pensions industry that it will give
"adequate advance notice" of this.
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