Professional Pensions asked its readers to share their views on the most positive aspects of the pensions industry in a Buzz poll conducted earlier this month.
As the Covid-19 pandemic continues to cause economic turmoil, trustees, actuaries, investment managers, sponsors, and consultants tell PP that increased communications and harmonious work has helped many of them remain positive and has pushed the industry forward to provide "excellent" levels of work.
Many praised the current state of, and engagement levels with, auto-enrolment (AE) across the UK.
"It is still helping to get people saving and improving engagement with pensions," said one poll respondent. Another added: "Despite its flaws, AE is still a huge success even if more work needs to be done on it."
Another respondent said an industry positive was the pensions dashboard remaining a constant topic of discussion, despite continued backlash of the lack of clarity on what is needed ahead of its launch, and of the communication levels between the industry and the government. They said: "The industry is keen to improve its delivery and the ability to be more flexible and use more technology is happening."
Many respondents praised The Pensions Regulator's (TPR) guidance throughout the pandemic, with one stating "guidance from the regulator in difficult times" as a notable industry positive. Another said: "TPR should be commended for their actions and understanding."
Another respondent said the endurance of the industry and the "ability to see pass current volatility" was a key positive, with another saying the pensions landscape remained comprised of "great people dealing with whatever we have to."
A third agreed, stating: "We are managing to keep everything moving forward at the current time" while another said: "pensions are still being paid on time and accurately."
One poll pundit said the most positive aspect of the industry at the moment had been its "outstanding" response to the pandemic.
"Pensions have continued functioning effectively, most importantly," another said. "There are a lot of people working to make sure members of schemes get good outcomes."
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