We have five strategic priorities that we continually monitor and measure ourselves against.
1: Sustainable funding in volatile times
Our strategic ambition is to be financially self-sufficient by 2030, and we will maintain a steady investment and funding approach.
Market volatility forces us to remain vigilant and responsive to changes in our external environment which may also require changes in our strategy.
We will maintain a robust and effective approach to responsible investment (RI), and continue to develop our levy methodology.
2. Built for innovation
We must become an agile, innovative business able to identify and respond to opportunities as they present themselves.
Through our IT transformation, efficient in-house services, and improved processes and tools we can achieve this.
3. Brilliant service for members and schemes
We strive to meet our members’ and levy payers’ highest expectations, recognising and supporting their diverse needs.
We will continue to develop our communication channels and operational resilience. By March 2022, we expect 70 per cent of member transactions to be undertaken online.
Our customer satisfaction results confirm that we are succeeding in providing a great service.
4. The best of financial and public services culture
Our culture is demonstrated from the top down, in the behaviours and values we exhibit, and the way we deal with challenges.
We strive to be an inclusive and diverse place to work where employees feel appreciated and valued for their differences.
We will challenge existing ways of working, providing our staff with the skills, training and resources they need to provide brilliant service.
5. Clear value for money
We will ensure value for money from our investment costs and will increase the cost efficiency of our member services function as our membership grows.
How we performed in 2019/20
- 83% probability of meeting funding target at 31 March 2020
- 113.4% funding ratio at 31 March 2020. 5.2 per cent point decrease year-on-year
- £567m levy collected
- 97.4% member satisfaction with customer service