AI Plan published by the Regulator

Today, The Pensions Regulator (TPR) published its AI Plan together with guidance setting out its expectations for the responsible use of artificial intelligence within workplace pensions.

The regulator recognised that AI has the potential to improve efficiency, member communications and administrative processes, but stressed that schemes and providers must ensure appropriate governance, oversight and accountability remain in place.

TPR made clear that trustees and pension providers remain responsible for decisions, even where AI tools are used to support processes or analysis. In particular, the regulator highlighted the importance of understanding how AI systems operate, ensuring adequate human oversight, protecting member data, monitoring for bias and inaccuracies and maintaining clear governance frameworks.

The guidance forms part of TPR’s wider focus on innovation and improving standards across the pensions industry, while ensuring that new technologies are adopted safely and in members’ best interests. It also reflects the regulator’s increasing emphasis on operational resilience, cyber security and effective internal controls under the General Code.