Are scanned pension scheme records compliant?

Document Scanning for Pensions Management

Document Scanning can help many industries improve the management of its documentation.  Pensions Management Companies, Pensions or HR Departments can significantly benefit from digitally managing  records. Digital management can help companies be compliant with the pensions regulator guidelines, backing up key information, freeing up valuable office space and helping to find, maintain and review information faster.

Pension scheme records need to be managed correctly to comply with Pensions Regulator Guidelines in order to accurately maintain and review records.   The Pensions Regulator states that accuracy of record keeping is a key activity for any type of pensions scheme.  Important information is required throughout the life cycle of the pension. Incorrect records can pose a risk to the security of the pension, causing issues such as fund misappropriation,  overpayment and errors in benefit calculation.

Pension trustees need to make sure that accurate member data and records are kept and maintained e.g. date of birth, National Insurance number and retirement date.

How can scanning and document management help?

  • Scanning documents can back up and protect key pensions records and information.
  • Intelligent capture software can also be used on scanning to capture and extract data, saving time on data capture and increasing accuracy of information.
  • Once scanned, data can be uploaded to a hosted document management system, only allowing secure access to authorised users.  This enables your company to be compliant with data protection act requirements.
  • Authorised users can access your records from any location using a web browser.  Information can be searched by key field and found quickly using a simple keyword tool.
  • New records e.g. letters and changes to pension information can be scanned, uploaded in original format and associated by record number.
  • Users can add notes and messages and assign tasks to other users
  • A full audit trail is provided for your document management

Scanning bureaus like Cleardata offer secure scanning solutions, accredited to ISO27001, the highest level for Information Security.

For further details visit www.ukdocumentscanningservices.co.uk or call 0800 046 8081.

 

 

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