At least 50% of schemes will be using Pension Fusion for Pensions Dashboards

Ahead of the industry’s first schemes planning to connect in early 2025, Pension Fusion – the Integrated Service Provider (ISP) developed in partnership by technology leaders ITM and Equisoft – has been selected by over 40 organisations as their connection method to Pensions Dashboards.

This latest development extends Pension Fusion’s long-held position as the leading ISP for UK Pensions Dashboards, with far more schemes and their providers committed to Pension Fusion than any other solution. At least half of all UK schemes will now be using Pension Fusion’s technology to push their data onto Pensions Dashboards, with others expected to commit in the coming months.

Pension Fusion’s client base is pan-sector, including FCA & TPR regulated providers, master trusts, third party administrators and single employer DB and DC schemes, demonstrating that Pension Fusion technology can be applied to all types of UK pension providers across DB, DC and hybrid pensions, as well as successfully linking with AVC providers.

This experience with a wide range of organisations, particularly Pension Fusion early adopters, and its leading relationship with the Pensions Dashboards Programme (PDP), has given Pension Fusion opportunities to improve and add to its ISP offering. Hands-on insight has led to Pension Fusion developing a ‘Pension Values Engine’, specialising in calculating pensions values not conventionally held by providers and also retrieving relevant data from AVC providers.

In addition, Pension Fusion’s ‘Advanced Matching’ tools help to ensure that a higher proportion of scheme members are linked correctly and accurately to their data, satisfying the demands of the Pensions Regulator, set out in their compliance and enforcement policy, that ‘schemes connect the right pensions to the right saver’. Our Advanced Matching also helps clients avoid the ‘Failed matching’ scenarios described in the Regulator’s policy, such as avoiding ‘binary matching policies’, which do ‘not allow for possible matches’.

“Throughout industry discussions, a frequent concern is the strain Dashboards could cause on administration teams,” explained Mark Lecompte, CEO of ITM. “We have worked intensively to offer pension providers smart and flexible matching tools, which are proven to improve their matching rates drastically while also reducing the amount of phone calls their administration teams will expect to receive from Dashboard users. It’s been very rewarding to see our work in this area be backed by experts throughout the pensions industry and have its value underpinned by critical Pensions Dashboards regulatory bodies’ policies and guidance”.

“Since our inception, Pension Fusion has led the way as the open-market Pensions Dashboards connection,” says Nick Meredith, Products Director of Equisoft. “We’re proud that together, through pioneering innovative technology and award-winning research, ITM and Equisoft have raised awareness for schemes about not only needing a secure Dashboards connection but having a service that provides them with technology that fulfils their legal duties and gives their members a positive Dashboards experience – something Pension Fusion provides with confidence.”