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Increasing expectations for self-service, emergence of the Pensions Dashboard and renewed focus from The Pensions Regulator (TPR) means added pressures on the day-to-day running of pension schemes.

Only 45% of employers are providing good data, according to TPR's Public Service Governance and Administration Survey (May 2017).

With the upcoming EU General Data Protection Regulation (GDPR) focusing on changes to content, particularly around sensitive personal data and the right to be forgotten, schemes with poor data and processes will struggle to comply.

At Aquila Heywood, we help customers navigate the complexity of data quality and data accuracy. We work with you to build a flexible governance strategy that is responsive to changing regulatory requirements and your circumstances.

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What good governance looks like…

  • Offers high-quality and efficient service to consumers

  • Conforms with legislative guidelines and best practice

  • Accurately values scheme assets and liabilities

Transform the service you provide by improving data quality

Data Analysis Service

Aquila Heywood works closely with you to understand the quality of your data and the impact this has on your ability to offer high-quality and cost-effective administration. This insight allows a detailed strategy to be developed, which offers the most effective way to improve your service to members, while optimising operational efficiency.

Our Data Analysis Service provides:

  • Dedicated Aquila Heywood expertise and guidance

  • Collaborative assessment of the quality of your data and impact on the service you offer

  • Full assessment of both common and conditional data as set out by The Pensions Regulator

  • Comprehensive data plan with recommendations for improvements over time

What our customers say:

By being a part of the pilot and seeing the outputs, I knew it would be useful. The report produced provides more than just a TPR box-ticking exercise and we will get far more value out of it by being able to target improvements to our data.

Debbie Sharp Pension Administration Manager Shropshire County Pension Fund

Reduce your administration and operational costs

Data Cleanse Service

Aquila Heywood's Automated Data Cleanse Service will not only make your life easier by tackling rising administration and operational costs, but will also make sure you are ready for pension regulation challenges on the horizon.

Our approach is to automate the correction of data as much as possible by using rich industry-standard third-party data sets to correct and enhance your member data.

Benefits:

  • Reduced administration costs

  • Improved ability to tackle liability reduction

  • Improved accuracy of scheme valuation

  • Improved communication

Our Data Cleanse Service provides:

  • Automated cleansing of key common data attributes

  • Automated validation and formatting of common data attributes

  • Automated data enhancements with email address, preferred communication channel and profiling information

  • Mortality screening to ensure pension payments are being made to the right people

Discover how ATMOS can help correct and enhance your member data.

Get ready for GMP Reconciliation

GMP Reconciliation

If you are yet to get GMP reconciliation underway, we can help. Aquila Heywood is offering its customers a full end-to-end GMP Reconciliation Service delivered in partnership with ITM. Using a smart technology-based approach, we aim to automate the resolution of 90% of discrepancies and minimise the number of record reviews. This service has been benchmarked to be cost-effective.

Benefits

  • Low-risk, high-quality solution from a single supplier

  • Ability to complete before 2018 deadline

  • Benchmarked to be cost-effective

  • Reduced headcount required to complete

What our customers say:

We started working with ITM and Aquila Heywood on GMP reconciliation last September and have found working with them to be effective and efficient. They have taken the burden off us, allowing my team to continue to do their day-to-day activities.

Chris Hurst Powys Country Council

Meet your GDPR requirements

General Data Protection Regulations

There are several areas to consider when preparing for the EU regulations on data protection, which take effect in May 2018. These areas include:

  • Consent and processing – you must ensure your members have made a conscious action or choice to demonstrate consent, where required. Our software platforms ensure you capture the explicit consent needed to engage with your members digitally.

  • Sensitive personal data – you must obtain consent to process sensitive personal data such as sexual orientation and health details. You may need to revisit any ill-health processes to ensure that this consent is captured in accordance with the new regulations. Our software can flag incoming scanned documents as sensitive to ensure you meet GDPR requirements.

  • Right to be forgotten – pension schemes adhere to numerous pension acts that require records to be kept until the scheme can be satisfied that records will no longer be needed to satisfy legal action. We are making changes to our software that will allow records to be anonymised of all personal data while preserving the integrity of the underlying database.

  • Right to rectification – where a member is aware of inaccuracies in their personal data, data controllers have one month to correct the data and must stop processing until the data is corrected. Our data quality service can assist in providing accurate data to avoid the obstruction that poor quality and the GDPR combined produce.

Contact us for more information

Pensions Dashboard integration

Pensions Dashboard Integration Services Provider

Aquila Heywood is one of six technology development partners that have built the prototype Pensions Dashboard, sponsored by the industry and the UK Government. The Dashboard’s aim is to ensure people can view all of their retirement savings in one place.

Aquila Heywood is offering easy, secure and low-cost participation in the Pensions Dashboard in the coming months. Our solution will ensure that access to the Dashboard requires no modification to the existing platform and no performance burden on existing systems.

Discover more information about the Pensions Dashboard and how the project is progressing: