In 2024, the industry faces significant challenges. Data degradation is a pressing concern. While some schemes opt for annual data updates, moving to monthly or weekly monitoring may be the way forward.
Trustees are expected to be data smart, defining matching criteria carefully to ensure accurate member identification on pensions dashboards.
Despite the complexity, thoughtful choices in this area will ease the transition to dashboards. Scam underreporting is another worry, prompting the delegation of scam flagging duties to administrators, who possess a broader understanding of the pensions landscape.
With that just being a snapshot of what the industry will need to think about, there’s an age-old problem of admin not being prioritised, overshadowed by costly data cleanup. Despite limited resources, prioritising administration and investing in high-quality standards will benefit members hugely. It’s vital to refocus on the member amidst financial challenges and data initiatives.
So, welcome to Professional Pensions’ Admin & Data Forum: Running A Tight Ship. Join us for a focused event tailored to address your main concerns. Engage in diverse discussions, gain valuable insights, and feel inspired to overcome industry challenges by home time. Secure your spot today and set the course for a successful journey ahead.
Register with us today and thank yourself tomorrow when you’ve taken your first step into your journey towards a fret free 2024.
– Please note that the information shared about this event is intended solely for informational purposes –