The UK pensions industry has given The Pensions Regulator (TPR) positive feedback in its annual Perceptions Tracker report.

The study looks at how the industry rates the regulator’s ability to carry out its statutory objectives.

Some 69% said the regulator’s performance over the last year had been good, or very good, in line with last year’s survey.

One-third of the respondents said their perception of the regulator had improved as a result of its work in tackling pension liberation scams.

Almost all (94%) said it was a trusted source of information, while 89% considered the regulator to be independent.

Interim chief executive Stephen Soper said: “We’re aware one of our biggest challenges lies ahead with the automatic-enrolment process. I am therefore pleased 77% of employers believe we are effective in maximising compliance with their AE duties.”

In other news, the Miki Travel Pension Scheme has begun the wind-up process for its scheme by insuring all of its £45m (€57m) of liabilities with Pension Insurance Corporation (PIC).

The scheme, set up 40 years ago for the travel firm, had been closed to future accrual and new members.

Both the scheme and sponsor were advised by Jelf Employee Benefits.

Lastly, the funding ratio at defined benefit (DB) pension plans belonging to the FTSE 350 have fallen to their lowest level since August 2010, according to Mercer.

The monthly ‘Pensions Risk Survey’ saw liabilities increase by £6bn over the month of July to £699bn, calculated on an IAS 19 basis.

This left a deficit of £116bn, significantly higher than the £96bn seen at the end of 2013.

The funding ratio at the end of July was 83%.