Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, how much funding (a) has been and (b) is planned to be allocated to the Money and Pensions Service for the delivery of pensions dashboards in (i) 2019-20 and (ii) each of the three subsequent years from (A) the financial services levy on FCA-regulated firms, (B) the general levy on pension schemes and (C) general taxation.

Pensions dashboard are a priority of this Government. The Government is committed to ensuring that the Money and Pensions Service has the funding necessary to develop the non-commercial dashboard and to work with industry, through the Industry Delivery Group (IDG), to develop the dashboard architecture.

The Money and Pensions Service has £8.2m funding for 2019/20 to begin development of the non-commercial dashboard and the dashboard architecture. This funding consists of:

• £1.2m from the Department’s Autumn Budget 2018 settlement to cover the initial set up costs for the Industry Delivery Group.
• £4.7m from the pensions guidance element of the Financial Services Levy.
• £2.3m from the General Pensions Levy.

We will continue to work with the Money and Pensions Service to understand the future development and ongoing maintenance costs over future years, including over the next three years to ensure sufficient funding is allocated from the levies.