Santa’s naughty list

Dec 18, 2015

Maybe you are not so naughty after all?

You are probably here because Santa has judged you to be on his naughty list. But with so many names, addresses and individual circumstances on his list, it looks like Santa has got his data all jumbled up, resulting in some people being told they have been naughty whereas in fact they have been very good all year. The good news for you is that you are – of course – on Santa’s nice list!

People being placed on the wrong list happens all the time, much like the 85,500 pension scheme members who have been overpaid £90 million in GMP entitlement* that they were not entitled to, all because their names were on the wrong list. One member walked away with a whopping £38,000 – proving how critical such data discrepancies can be.

ITM helps pension schemes and Trustees to clarify their lists through a range of market leading data management services, thus saving schemes money and maintaining high levels of governance.

If you represent a pension scheme that will be undertaking a GMP reconciliation or any other data related audit, then please do get in touch as we will gladly give you some advice.

In the meantime, we wish you a happy and healthy Christmas!

* National Audit Office, 2009

SIMILIAR NEWS

Press Release: ITM signs agreement to acquire Profund Press Release: ITM signs agreement to acquire Profund Apr 16, 2021 Exciting News! ITM signs agreement to acquire Profund Independent Transition Management Limited (ITM), the leading provider of data management and technology services to the pensions and financial
Tackling increasing pension fraud Tackling increasing pension fraud Mar 8, 2021 It always feels very strange and cold to talk about mortality, as though the people and their lives boil down to a stat. An even stranger term is ‘excess’ deaths – as though there is an
GMP equalisation: we don GMP equalisation: we don't need crystal clarity to get started Feb 9, 2021 GMP equalisation: we don't need crystal clarity to get started The industry has been waiting too long for the glass to become crystal clear on GMP equalisation – but is there an element of
Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
ErrorHere