The Pensions Regulator (TPR) has shared seven design principles to guide innovation in workplace pensions, created in collaboration with industry experts as part of its ongoing innovation work.

The principles are intended to reflect the values and behaviours TPR thinks are essential for meaningful change and act as a guide for how the industry can all act and behave to support innovation in the interest of savers.

While the final wording is still being refined, the design principles are: saver-centred; impact and evidence; responsible use of technology; transparency, trust, simplicity and clarity; inclusion; sustainable and future-looking; and continuous feedback and iteration.

“These design principles aren’t just for TPR – they’re for the whole industry. They’re a shared foundation for how we approach innovation together,” TPR head of innovation and design practice, Marion Lean, said.

The principles were agreed as part of TPR’s latest innovation event, which Lean said was “just the beginning” of its work to support further innovation in the pensions industry.

She continued: “We will apply the design principles we have created with industry to our work at TPR, and we will support and encourage the industry to do the same.

“Overall, we want to help the industry become more creative, more confident, and more connected.

"We want to share what we’ve learned – and learn from others. And most importantly, we want to make sure that innovation in pensions is driven by the people it’s meant to serve: savers.”

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