He said: “Yesterday’s welcome announcement confirms that the number of staging deadlines has been compressed from 31 months of onboarding to 18.
“This significant reduction will undoubtedly create friction, and pile increased pressure on already strained resources across the industry.
“However, in spite of this, I believe that having confirmed dates to work towards is exactly what the industry needs and will help towards firmly putting the PDP back to the top of the corporate agenda following the long reset period.”
The Pensions Administration Standards Association said the connection timetable provides "much needed clarity".
A spokesperson said: "Schemes now have a clear runway showing them when they’re expected to connect, starting from April 2025. They can now work backwards from their assigned connection date, using PASA’s Connection Readiness Guidance, to plan the work required.
"This can take up to 18 months - so it needs to be prioritised as soon as possible."
tara.o'connor@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
