The pensions system is rapidly evolving. New models and rapid technological change present new opportunities to improve outcomes for pension scheme members but also risks.
The Pensions Schemes Act 2026 will significantly reshape the market with a focus on scale, value and good outcomes for members. Alongside this, the Pensions Commission is considering the longer-term future of the system.
That is why in its latest proposed five-year strategy, TPR sets out a set of six outcomes that will drive the regulator’s work over the years to come as well as principles for how it will work with the workplace pensions market to deliver its vision.
Chief Executive Nausicaa Delfas said: “We are today launching a consultation on our five-year Corporate Strategy, at a pivotal time in pensions. Our mission is to protect workplace pensions members’ money, enhance the pensions system and support innovation in members’ interests. We encourage stakeholders to engage in our consultation to make sure that together we can create a system which delivers what matters most: a sustainable income in retirement for everyone”
The consultation document [Corporate strategy consultation] outlines TPR’s intention to progress six outcomes – member and market – that guide their regulatory work and will demonstrate success:
Savings are secure: Workplace pension members’ benefits are secure and delivered as promised.
Better value: Workplace pension members benefit from investments and services that deliver long-term value and support a sustainable income in retirement.
Pensions are fair: People have fair access and opportunity across the workplace pensions system.
Well-run schemes: Effective scheme governance and administration by independent, forward-looking and highly skilled trustees and scheme managers.
A sustainable and resilient market: A resilient, financially secure pensions system that supports UK growth and operates efficiently.
A seamless and integrated system: An end-to-end journey – from joining a scheme to taking an income in retirement, with innovative products and services connected to how people live their lives.
The consultation runs until 8 June 2026. Following feedback, TPR plans to publish the final version of its strategy in July, alongside its Corporate Plan.
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