The government’s Money and Pensions Service (Maps) needs to build further on plans announced last week to spearhead industry cooperation initiatives, PP readers say.
The body admitted it had "a critical role to play" in the economy's recovery from coronavirus on 16 June as it unveiled a 10-year corporate plan outlining its long-term key initiatives.
Maps said it would create a "movement of organisations" over the 12 months to build on collaboration already undertaken in advance of the release of its January wellbeing strategy; this would include leadership of sector-wide initiatives focused on advancing the quality of guidance services, it added.
Respondents to a PP Pensions Buzz poll last week say a stronger stance is still needed however, including Maps assuming a stronger motivational position across the industry.
A total of 47% said Maps needed to outline more plans, while just 8% said it did not.
One respondent said the body risked becoming "another irrelevant quango" if it did not increase the reach of its plans, while another said the detail of the scope of its self-set remit would emerge from challenge groups.
Another respondent said they remained "unconvinced" that spearheading initiatives was "a Maps job" however.
Chief executive Caroline Siarkiewicz - who began her role in January - said the importance of transforming wellbeing across the industry had been "forcefully brought home" by the impact of Covid-19.
She added: "Our strategy sets deliberately ambitious goals. We have a long-term vision; in these uncertain times Maps has a critical role to play enabling everyone to make the most of their money and pensions."
More than a third of savers have taken some form of action relating to their pension during the national lockdown, according to research by Aviva.
XPS Pensions has revealed that the gap between pension obligations reported in companies’ accounts and the long-term funding strategies that drive cash demands is continuing to grow.
The Continuous Mortality Investigation’s (CMI) mortality monitor has recorded a lower number of week-on-week deaths comparative to 2019 for the first since the outbreak of Covid-19 in the UK.
The positive impact of auto-enrolment (AE) on retirement savings risks running out of steam amid growing concerns about the damage of the Covid-19 pandemic, says Scottish Widows.
Jenny Condron and Patrick Bloomfield explain the ACA's immediate priorities.