COVID-19 Workplace Pensions update
Gail Izat | March 25, 2020
Time to read: 3 minutes
An update from Gail Izat, Workplace Pensions Director, on the steps we’re taking to support you and your people through this challenging period.
In response to the COVID-19 situation, our first priority is ensuring the well–being of our employees, and supporting the needs of your people, our clients and their advisers. We are monitoring the evolving situation closely and taking action in response to the Government’s latest guidelines and other official advice.
We have specific continuity plans in place. Led by our senior leadership team, we are using our established business continuity framework to manage our response. This includes remote working capabilities. We have asked our employees to work from home and we are prioritising critical processes. We will make all efforts to continue to provide a responsive service and have asked members to use digital and email services if they can, to keep our phone lines available for customers that need our telephony service the most. We will be emailing your members this week and you can see a copy of the communication here.
We appreciate that this is an unprecedented time and want to reassure you that we are taking every possible step to support our employees, you and your people, and our business. Please visit our service update page for more information, which includes more information on the impact on investments. The Pensions Regulator has also set up a COVID-19 page to support trustees, employers and administrators – visit here for more information.We will continue to work closely with our regulators and provide more information about what we are doing to support you and your people over the coming weeks.
The views expressed in this blog should not be regarded as financial advice.
It’s important to remember that a pension is a long-term investment and as such its value can go down as well as up. It could even be worth less than was paid.