TPR performance ratings plateau

The Pensions Regulator’s (TPR) overall performance ratings in 2018/19 have remained at a similar level to the previous year, its latest Perceptions Tracker survey has revealed.

Nearly two-thirds (65 per cent) of respondents rated TPR’s overall performance during 2018/19 as ‘very good’ or ‘good’, representing a slight dip from last year, when 67 per cent issued a positive response.

The proportion of people rating the regulator’s performance as ‘very good’ fell by 2 per cent to 14 per cent, while 2 per cent rated its performance as ‘poor’ or ‘very poor’, the same proportion as last year.

Lay trustees were the audience group that were most satisfied with TPR’s performance, with 67 per cent rating it as ‘very good’ or ‘good’ compared to 65 per cent of pension professionals and 59 per cent of employers.

In one of its most improved areas, TPR was judged to be effective at maximising employer compliance with auto-enrolment duties by 85 per cent of respondents, up from 77 per cent in 2017/18.

However, the regulator was ranked poorly for its effectiveness at minimising any adverse impact on employer’s sustainable growth, with 44 per cent of those involved with DB schemes saying they were ineffective.

The proportion rating TPR as effective at strengthening the funding of DB schemes fell in 2016-17 and has remained at a similar level since, with a score 61 per cent this year.

Respondents saying that employers were clear on their legal requirements increased by 5 per cent to 80 per cent, while 84 per cent said that they believed trustee boards were clear on their requirements.

The survey was conducted on behalf of TPR by OMB Research.

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