Data standards published for prototype project
Some of the potential consumer services and applications which could be created as a result of Pensions Dashboard technology are being explored at a two-day techsprint, being jointly hosted by the ABI and HM Treasury as part of UK FinTech Week.
The event, being held at Aviva’s Digital Garage in East London during today and tomorrow, involves people from more than 20 technology firms.
To coincide with the event, the Pensions Dashboard project is placing the data standards which sit behind the prototype, in the public domain. These are technical documents which spell out exactly how data had to be presented by firms to connect successfully to the Pensions Dashboard prototype. While these will be refined with input from stakeholders before any final system is made available to the public, they are a helpful guide for industry to the likely data requirements they should be preparing their businesses for.
Rob Yuille, Head of Retirement Policy at the ABI, said:
“It’s been great to see the Pensions Dashboard prototype take shape, but looking at the potential it has to revolutionise how people interact with their pensions is where this project gets really exciting. I’m delighted we’ve been able to work with HM Treasury to hold this event to explore some of the ways dashboards could empower savers and help them keep track of their life-savings.
“Publishing the data standards behind the prototype is another step towards a service everyone can use by 2019. While these standards will be developed, the industry should view them as a reliable guide to what’s likely to be expected of them when it comes to connecting to the dashboard. It’s important Government now lays out clear plans for the next phase of this project so industry, regulators and consumer groups can continue their valuable collaboration on how to make this service a reality.”
A new website for the Pensions Dashboard prototype project has now gone live at http://pensionsdashboardproject.uk/
The Pensions Dashboard prototype met its deadline to demonstrate to Government ministers in March. Read more about what the project has achieved and which firms were involved here; there are some FAQs here.
Notes for Editors
1. Enquiries to:
Malcolm Tarling 020 7216 7410 Mobile: 07776 147667
Lauren Gow 020 7216 7327 Mobile: 07889 641702
Sarah Cordey 020 7216 7375 Mobile: 07860 189071
2. The Association of British Insurers is the leading trade association for insurers and providers of long term savings. Our 250 members include most household names and specialist providers who contribute £12bn in taxes and manage investments of £1.6 trillion.
3. An ISDN line is available for broadcast
4. More news and information from the ABI is available on our web site, www.abi.org.uk.