Corporate Plan 2022-2025 published
The Pension Ombudsman’s (TPO) Corporate Plan, published today, outlines its strategic goals and priorities over the next three years.
For the second year running TPO has increased its productivity closing 5,221 pension complaints in 2021/22 – an 8% increase in productivity on top of the 6% increase in 2020/21.
It has been achieved despite a continuing increase in demand for its service with which funding has not kept pace. This, together with unavoidable delays caused by the pandemic, has resulted in customer waiting times becoming unacceptably long. One of TPO’s key priorities over the coming year is to drive waiting times down.
The critical work of TPO’s Pensions Dishonesty Unit (PDU) will continue with funding extended to 31 March 2023. TPO will evaluate the success of the pilot that holds wrongdoers responsible and seeks to ensure they repay monies to scheme members. If the outcome of the evaluation is that the PDU is a necessary and valued part of the triparted approach to tackling pension scams, TPO will look to secure further funding.
Another important priority for TPO is to continue to work closely with key strategic partners and stakeholders across the pensions industry to raise standards in dispute resolution and enable schemes to resolve disputes without the need for TPO to be involved.
TPO’s Corporate Plan 2022-2025 outlines the assumptions, forecasts and actions required to deliver on these priorities along with the revised KPIs introduced to measure progress against strategic goals.
Download the full Corporate Plan 2022-25.
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