Pensions minister, Laura Trott has said there will be a "reset" of the Pensions Dashboards Programme (PDP) in which the Department for Work and Pensions (DWP) will play a full role.
Trott said the dashboard project was a "significant undertaking", and said additional time was needed to deliver the complex digital architecture by the connection deadlines.
"More time is needed to deliver this complex build, and for the pensions industry to help facilitate the successful connection of a wide range of different IT systems to the dashboards digital architecture. Given these delays, I have initiated a reset of the PDP in which DWP will play a full role."
Lily Megson, policy director at My Pension Expert, said: “The Pension Dashboard Programme is an incredibly ambitious project. And I applaud the government for not rushing to push out an inadequate project; it must be done right. That said, this delay is a disappointing turn of events.
“Now, the government must ensure that consumers have the right financial support to help them achieve the financially secure retirement they deserve. After all, My Pension Expert’s research found that just 35% of UK adults believe they will be able to retire when they want to. If the Pension Dashboard is facing indefinite delays, the government must ask itself what further support can be provided in the interim. And one option could be ensuring all consumers are aware of independent financial advice, which can help them to better understand the state of their retirement finances and make informed decisions about their money.”