Are you overpaying your pensions?
Impersonation of Deceased (IOD) is one of the main types of pension payments fraud. It can cause significant reputational and financial damage to a fund.
Accidental overpayment also has serious financial and reputational issues, such as cases of causing distress for bereaved partners during a sensitive time.
Due to the administrative overhead and small financial values, funds often fail to recover overpayments; however, when these payments are aggregated over a year the total overpaid can be significant.
Do you keep in touch with your deferred members?
Keeping in touch with deferred members is becoming increasingly important. Correspondence, including deferred benefit statements, is an important part of providing a good pension administration service. But with deferred records often being decades old, and over 10% of the UK population moving home each year, how do you know that correspondence containing financially sensitive information is being sent to the correct address?
The ATMOS Mortality Screening identifies potential mortality cases based on a range of data sources including the General Register's Office Disclosure of Death Registration Information.
Mortality screening across a range of data services
Easy-to-use certainty matrix
Quick turnaround time to support your payroll cycle
The ATMOS Address Cleansing and Trace service corroborates addresses to Royal Mail standards and traces ‘gone-aways’.
Auditable results files
Secure and encrypted data transfer and storage protocols
Results that are easy to upload into Altair
Automated cleansing, validation and formatting of common data attributes
Reduced administration costs
Reduced pension overpayments
Reduced risk of fraud and data protection breaches
Improved accuracy of scheme valuation
What our Customers Say:
Torfaen CBC has been submitting a monthly mortality screen check to ATMOS since December 2010. The process of sending and receiving the files is quick and straightforward and the results are received promptly.
Assistant Pensions Manager
Having used a couple of other tracing services in the past I chose ATMOS for the combination of security, service and value.
After the success of an initial cleanse to improve address quality, trace gone-aways and identify historic mortality cases I decided to implement the ATMOS monthly mortality screening service too.
The monthly screening is proving highly effective and has prevented a significant number of overpayments. It is also negating the risk of any fraud cases. Every month we are notified of pensioner deaths and the results include a certainty level and associated match matrix to aid with our investigations.
Carmarthenshire County Council