Pensions data management breakfast briefing
9 May 2012 8:20AM

Has data been an issue for you in the operation of your pension scheme, or are you embarking on a project where good data is a prerequisite for its completion?

Accurate and up-to-date data is critical for the proper operation of a pension scheme. If you do not have good data, this can add significant cost at a time when finances are extremely tight. Trustees have the ultimate legal responsibility for the quality and accuracy of member records. The Pensions Regulator has issued guidance that trustees must comply with by the end of 2012, suggesting trustees should ask their administrator to:

• Show that the scheme's data is complete, accurate and up to date.
• Identify what processes are in place to advise the trustees when there are data problems.
• Provide an update on the state of member data, at least annually.
• Identify the processes in place for members leaving the scheme, including tracing lost members.

Guest speaker
John is a Director at ITM, an independent data management and IT specialist delivering innovative solutions to pension schemes and broad-based financial service organisations. John has over 25 years' pensions experience and is a specialist on pension data, administration and all relevant regulations. ITM supports LCP on data cleansing projects.

For more details on ITM, visit http://www.itmlimited.com

This briefing is appropriate for Chairman of Trustees, Pension Managers, Secretaries to the Trustees and employers who need to ensure that they meet the Pensions Regulator's requirements for data quality.