A blog, published today
(Tuesday) by The Pensions Regulator (TPR), reveals a new
cross-sector initiative to bring pensions into the digital, data
and technology age.
Paul Neville, Executive Director of Digital, Data and Technology
at TPR, explains that the regulator wants to collaborate with the
pensions industry and other sectors through a new working group.
Mr Neville explains that the Pensions Data and Digital Working
Group will become a “pivotal force” in shaping the future of
pensions.
He explains embracing digital, data, and technology - especially
better use and management of data - could bring benefits
including near real-time monitoring, better benchmarking, reduced
costs and simplified reporting.
Mr Neville adds that there will be benefits for savers too.
He writes: “In the modern world, savers expect instant access to
pensions information, but while the Pensions Dashboards Programme
will deliver improvements, we are still too far away from
achieving the digital access other industries take for granted.
“For millions of savers, better data combined with saver-focused
digital solutions will mean clearer choices, fewer risks and more
confidence in their financial future.”
Notes to editors
- Read the post: How collaboration will
help pensions thrive in the digital, data and technology
age
- The Pensions Regulator is the regulator of work-based pension
schemes in the UK. Our statutory objectives are to:
- protect members' benefits
- reduce the risk of calls on the Pension Protection Fund
- promote, and improve understanding of, the good
administration of work-based pension schemes
- maximise employer compliance with automatic enrolment
duties
- minimise any adverse impact on the sustainable growth of
an employer (in relation to the exercise of the regulator's
functions under Part 3 of the Pensions Act 2004 only)
