Marvin OnumonuThe Pensions Regulator (TPR) has launched a new service to support innovation in the pensions industry and help improve outcomes for savers.
The service is set up to help innovators and pension schemes discuss new ideas early, aiming to break down regulatory barriers and encourage new ways of working.
The focus will be on areas such as pension administration and member experience, especially during decumulation, as well as investment and new scheme models.
Improving data quality was named as the first step for delivering change and remains a regulatory priority.
The service will include discussion sessions with experts, collaborative events for industry networking, and access to blogs and reports explaining TPR’s position on areas like targeted support and guided retirement.
Pensions innovators will also be given access to the Financial Conduct Authority’s (FCAs) own innovation test service through cross-Government working.
Nausicaa Delfas, CEO of TPR, said: “Our new innovation support service will provide an environment for innovators from across industry to collaborate and test their ideas, streamline our approach and reduce unnecessary regulatory barriers.”
