ITM Welcomes Potential New Scheme Data Standard

27-May-2008

ITM, the independent data and administration consultant, welcomes the current discussion and forthcoming consultations on a potential new scheme member data standard.

John Broker, a Director at ITM commented …

"ITM welcomes the current debate and forthcoming consultation on a potential new scheme member data standard. ITM has promoted best practice and provided data analysis, cleanse and benchmarking services for 5 years. We believe this is a fundamental part of a trustee risk management programme, data being at the heart of good administration governance.

"We have seen an increasing demand for our services from trustees seeking an independent, objective data audit with a view to gaining a holistic view of their scheme member data and how this impacts on their administration operational risk. We have also undertaken many data analysis projects for a number of Third Party Administrators.

"We appreciate the difficulties faced by trustees, scheme managers and pension administrators, who are frequently grappling with the legacy of inherited poor data. Poor data impacts on all areas of scheme management from valuation and funding issues to simply hindering accurate member calculations and good member communication.

"We welcome this current initiative to potentially establish a new scheme data standard and believe that the industry having a data centric focus can only serve to raise overall administration standards. ITM is well placed to assist organisations with a range of data and administration consulting solutions. We look forward to seeing how this issue develops and to participating fully in all ongoing discussions"


Further Information / Media Contact
Please call:- John Broker APMI, Director, Sales & Marketing – 07912 943 366

ITM Ltd 5th Floor
1 Gracechurch Street
London EC3V ODD

Tel 0207 648 9990
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