By Julian Mund, Chief Executive
When we talk about what the PLSA does, our first words are often we bring together.
We bring together everyone involved in pensions to raise standards in our industry. We bring together people and ideas from across pensions, business, politics and the media. We bring together our members with decision makers in government and regulators so they can talk to each other directly, challenge each other, question each other and find solutions to the challenges facing our industry, our ageing society and the savers of the future. And we do all of this to try to help everyone achieve a better income in retirement.
In 2020 our industry, like society itself, has faced a new set of challenges. Already dealing with disruption, change and fragmentation in saver choices and consolidation in market structure, the pensions industry has also been affected by Covid-19. Communications with savers anxious about their financial futures, investment strategies dealing with market shock, governance and administration carried out remotely and with a reduced workforce: PLSA members have reported these and many more challenges. And I’m really pleased that they’ve coped very well.
For the PLSA, bringing the industry together is going to look different for quite a while. What does that mean for the PLSA? Well of course we're all working from our homes, and for us here, at least until September. But also, our events for the rest of 2020 will be online, digital experiences, and we aren't planning to return to live events as we knew them until at least 2022.
Before the events of the year unfolded, one of my top priorities for the next few years was already to make the work we do on our members’ behalf and the successes we achieve as visible as possible.
Together the PLSA and its members make a huge difference, to ESG, member communications, investment cost transparency, pensions dashboards and Retirement Living Standards. And practical issues such as GMP, McCloud and many other areas. Now, we will have to work even harder, do those even better and make even better use of technology to bring the collective strength of our members together. And we’re ready for it.
For the rest of 2020 we’re focusing on the key policy areas of financial wellbeing, DC decumulation five years on from the Pension Freedoms, the future shape of our industry and our Investing for Good campaign. You’ll see these come together at this year’s annual conference.
The PLSA team are enjoying the challenges of 2020. We’re facing the future with confidence.