The Pensions Regulator is consulting on its draft innovation plan, which sets out how it will embrace technology to deliver better outcomes for savers.

The aim of the plan is to open up a debate with the industry as to how the regulator can do more to integrate technology into the way it educates and enables the regulated community.

It also explores new ideas such as pensions dashboards for savers and highlights how TPR has used interactive tools on its website to help employers meet new pension duties.

Commenting on the consultation, TPR executive director Andrew Warwick-Thompson said: “We do not underestimate the increasingly important role technology is playing in the way pension schemes are administered and delivered, and the way members are keeping track of their savings, particularly in light of pension freedoms.

“As a regulator, we are determined to fully embrace the benefits technology will bring in areas such as communication, access to the data we publish and online interactive tools, while ensuring schemes are alive to the threat of cyber security.”

According to the regulator, applications will also be developed to share published data with other government departments and agencies and members of the regulated community.

It further intends to ensure there is more use of cloud hosted IT services to improve the efficiency of operations and the ability to respond to change.

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