The UK's Pensions Regulator (TPR) has published guidance encouraging pension trustees and scheme managers to explore how artificial intelligence (AI) could improve efficiency, value for money and member outcomes while managing risks, including cyber security. Trustees remain accountable for decisions affecting schemes and members. They should understand where significant AI is used and know enough to challenge providers effectively and ensure appropriate oversight. Building on the initial governance expectations in TPR's May AI plan, the guidance sets out seven principles for responsible use. Schemes should start with the problem rather than the technology and keep human responsibility central. Governance should be ongoing, supported by planning for disruption and good data. Transparency and explainability should underpin trust, while AI use should support fair and accessible outcomes.
UK's Pensions Regulator publishes AI guidance with seven governance principles for trustees
The UK's Pensions Regulator has issued seven principles to help pension trustees and scheme managers use artificial intelligence while managing risks. Building on its May AI plan, the guidance emphasizes that trustees remain accountable and need enough understanding to challenge providers effectively. It calls for ongoing governance supported by good data, with transparency and explainability underpinning trust.