ITM and Altus have partnered to deliver the UK pension industry’s first commercial Pensions Dashboards Integrated Service Provider (ISP).

As reported by our sister title, Pensions Age, the partnership will see the two providers combine their resources, skills and technical capabilities to develop an open-market connection to pensions dashboards.

The partnership is hoped to give the pensions market a simple and achievable way to connect to the pensions dashboards, aligning existing and trusted capabilities into a single ISP solution.

The ISP, which is a recognised mechanism to connect to dashboards as per regulations, is expected to provide secure and responsive systems that are able to manage the scale and demand of multi-million dashboard users.

It will also provide support for the complexities of displaying estimated retirement income, based on up-and-coming guidance.

Commenting on the announcement, ITM chief innovation officer, Maurice Titley, said: “The challenge for pension administrators to provide data to pensions dashboards has always been two-fold: firstly how to provide the high quality data required to support dashboards, and secondly how to expose that data to a high volume 24/7 pensions ‘find and view’ service with millions of users.

“The synergy driving the Altus/ITM dashboard connection overcomes these challenges and performs to the new technology standards of dashboards, whilst also handling the complexities and realities of the pension data world.”

Adding to this, Altus director, Ben Cocks, noted that the regulations to compel pension administrators to connect to the dashboard are "coming down the tracks fast".

“We all know that running pension schemes in the real world is a complicated business but by joining forces with ITM we can provide administrators with a straightforward route to compliance," he continued.

"The Altus/ITM dashboard connection solution can be the cornerstone of a successful rollout of the pensions dashboard.”

The Pensions Dashboards Programme recently confirmed that it was on track to begin the alpha testing phase for pensions dashboards in December 2021, in line with the anticipated 2023 launch date.

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