Scheme Data Analysis/Administration Cost Analysis
Frequently pension scheme data is of a poor or at best, inconsistent quality.
This has a knock on effect on scheme administration quality and cost but also on the ability to rapidly run liability exercises without significant manual intervention, which can be time consuming and add to any expense.
It also often means that liabilities are incorrect, as they are based on flawed data. Consequently funding costs and buyout costs are equally incorrect.
We have designed a unique data audit tool which allows us to vet the quality of scheme data based upon the Pensions Regulator’s guidance and identify areas where remedial action is required prior to any further activity being undertaken.