The Pensions Regulator’s record-keeping guidance identifies that poor data management can lead to significant additional costs and cause reputational damage. Tracesmart’s data cleansing and pension tracing solutions for the Life and Pension industry will help avoid these pitfalls, ensuring gone aways are found and member records are kept accurate and up-to-date.
Traditionally, tracing lost and deferred members was costly and unproductive, especially when relying on outdated letter forwarding certificate of existence exercises. Fortunately, this is no longer the case as our range of electronic and manual pension tracing solutions will ensure you maximise the success of tracing gone aways while verifying existence – quickly and cost effectively.
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A solution for automating outdated certificate of existence checks, IDU Existence Batch will screen your entire scheme’s member database, segmenting your records into ‘living as stated’, ‘deceased’ and ‘gone aways’.
Providing continuous scheme monitoring, the process will highlight changes in your members’ details at the earliest opportunity. It’s the most beneficial and proactive approach to mitigate overpayments and fraud.
A quick means to re-establish contact with any volume of people; utilising the UK's premium consumer databases, our system will trace the majority of your lost or deferred members to a forwarding address.
Some people prove to be more difficult to trace, requiring specialist in-depth research. Missing members may be located anywhere in the world - a positive outcome is reported only when an individual is confidently traced.
A manual identity verification service for trace results - each traced individual is contacted to ensure that the correct person has been traced and to their current address. The subject responds online, by post or by phone.