The DWP has updated its guidance for trustees of relevant occupational pension schemes and their advisers regarding deferred connection to pensions dashboards. The guidance and forms have been updated to reflect changes made by the Pensions Dashboards (Amendment) Regulations 2023, including introducing a single connection deadline of October 31, 2026. The Regulations came into force on August 9, 2023.
The updated guidance explains that a scheme may apply to the DWP to defer its connection deadline for up to 12 months if, before August 9, 2023, they had in good faith embarked on a programme to transfer their scheme's data to a new administrator or had entered into a contract containing an obligation to re-tender their scheme administration in accordance with a reasonable timetable that conflicts with the connection deadline. Changes to the guidance include:
- References to "staging deadline" have been amended to "connection deadline".
- Applications to defer must be submitted within 12 months of August 9, 2023. The fact that an application was not permitted would not prevent a further application being made.
- The new deadline will be determined as the Secretary of State considers appropriate, but this can be no later than October 31, 2027.
- The guidance, which states that changing administrator alone would not be a sufficient reason to defer connection beyond October 31, 2026, now includes a statement that in some cases, it might be reasonable to connect with an existing administrator and manage the change in administrator after connection.
The DWP will contact those who applied to defer their previous staging deadline before August 9, 2023, in order to clarify the status of their application.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
