Why does your common data become inaccurate and unreliable?
People are most likely to forget to inform pension providers when they move home 1
Each year in the UK:
11% of the population move home 2
Over 500,000 people die 3
Over 300,000 people emigrate 4
Approximately 250,000 people get married 4
Over 110,000 people get divorced 4
Sources: 1. Royal Mail Home Movers Survey 2015 | 2. Royal Mail Redirections 2014 | 3. Disclosure of Death Registration Information | 4. Office for National Statistics
What if your record keeping standards fall short?
Continuous monitoring of your scheme is paramount to highlight any changes in your members circumstances. Data cleansing and data driven tracing will help avoid the pitfalls mentioned above.
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