Isio has connected its first pension scheme to the Pensions Dashboards ecosystem.
The consultancy and pensions administrator joins a growing number of pension firms that have started linking their schemes, including Royal London, Aegon, Fidelity, Barnett Waddingham and Standard Life.
Isio said linking to the ecosystem has strengthened the partnership between it, the scheme’s trustees, and tech provider Equisoft.
The firm said trustees should think beyond compliance and use the dashboards rollout as a springboard for broader transformation.
It also emphasised that the ongoing rollout of pensions dashboards will lead to a surge in member questions from employees. These could range from concerns about under saving for retirement to confusion about multiple pension entitlements. The firm said pension schemes must be ready to respond.
Isio is also developing tools to help trustees and employers explain dashboards clearly. This will support employers in helping members stay up to date with the latest developments and boost engagement with pension benefits.
Harvi Rana, pensions dashboards lead at Isio, said: “We see this as an opportunity to reconsider how we approach retirement planning. By using new technologies alongside our expertise, we aim to support members to achieve better retirement outcomes.”
Girish Menezes, head of administration at the firm, said: “Preparing for pension dashboards is not only about meeting technical requirements, it is also a chance for trustees to improve the quality of pension administration. Taking the opportunity to define benefits clearly and improve data accuracy helps reduce risks and improves operations. Maintaining good data quality should be an ongoing priority for trustees. Inaccurate data can create problems for both schemes and their members, affecting trust.”
