Half of UK pension schemes have sent “reassuring communications” to members during the Covid-19 pandemic, according to Aon.
The firm polled attendees at a recent Pensions and Lifetime Savings Association-hosted webinar to determine how schemes are responding to their members' needs as the pandemic continues.
When asked how they were communicating with members, 50% of the respondents told Aon they had already been in touch with members, while another 21% said that they planned to do so shortly.
Aon partner and co-lead of UK pensions administration Gary Cowler said the figures paint a positive picture.
"Communication with members is vital to the effectiveness of this and - thankfully - it appears that schemes are upping their efforts and staying in touch with potentially vulnerable members at a time when it's really needed," he said.
"[Schemes] have also actively engaged with administrators, such as ourselves, to re-familiarise themselves with the processes we have in place to protect their members against scams and to stay ahead of the would-be fraudsters."
Head of member options Kelly Hurren added that The Pensions Regulator's (TPR) warning on increased scam activity had been well-received among respondents to the webinar poll.
She said: "TPR has also already warned about the heightened risk of members being targeted by pension scams during this time and requested that trustees provide additional warnings alongside transfer value quotations to ensure that members make good decisions and therefore, any additional assurance and access to good quality advice that schemes offer can only be welcomed."
Cowler added: "This unsettled period has raised concerns over the increased possibility of pension scheme fraud, but our webinar showed that trustees are responding to this."
The webinar follows findings from Aon's 2020 Member Options Survey which showed close to a third of schemes have already provided members with online modelling tools or access to independent financial advice at the point of retirement - or shortly plan to.
Hurren added: "However, our webinar poll showed that 19% of schemes now plan to improve the support available to members as a result of Covid-19."
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