Data Cleansing and Health Checks
Is your data 'clean'? Is your organisation compliant with The Pension Regulator (TPR) guidelines? Are your employer contribution rates higher than they should be as a result of poor data? Are you wasting money issuing communications that do not reach their target?
Accurate data is the cornerstone of efficient pension administration. However, good quality data that satisfies the high standards set by The Pensions Regulator (TPR) and the scheme actuaries requires systems and processes to be working effectively. LPP offers a number of flexible solutions to assist you in getting your data in the best possible shape.
Our General Data Cleansing Service checks the quality of data on your systems and will ensure that it satisfies all TPR and actuarial reporting requirements. We offer a full solution – from the analysis and cleansing of your data to the resolution of issues and scrutiny of underlying issues.
Our Common Data Management Services will assist your scheme maintain and manage its Common Data, so that it is accurate and fit for purpose and compliant with the targets set by the TPR.
Our Pension Services 'Health Check' goes beyond the data environment and considers systems and processes as well. Using customised reporting tools, data analysis techniques and 1-2-1 discussions with the people who know your scheme inside and out, we will fully analyse your pension administration function and provide a comprehensive assessment of your pensions services' health and recommendations for improvements.
As a provider of pension administration services to a number of Local Government, Firefighter and Police schemes, we have a depth and breadth of experience in analysing and resolving all manner of scheme data and administration process issues.