Data analysis and cleansing to support de-risking (Global technology company (£multi bn scheme)

The challenge

The client’s scheme was complex, with more than 10 main sections and the administration was carried out by an in-house pensions team.

This scheme had a complex acquisitional history, which meant that data was stored inconsistently across different sections.

The trustees and the sponsor agreed to undertake a de-risking programme, which meant that scheme data needed to be brought to a standard appropriate for PIE and pensioner buy-in quickly.

Our approach

We worked collaboratively with the in-house administration team to deliver a data cleanse programme to assess the data issues and deliver appropriate solutions. The process involved:

• Working with the administration team to extract data from their system in an efficient manner, using existing data extraction processes
• Analysing the data to understand systematic and individual issues with data cleansing
• Providing pragmatic solutions to systems issues (e.g. tranching of data, approach to GMP step-ups)
• Setting out a minimal data cleanse methodology to address specific individual member issues.