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Pension Protection Fund

OpenText Helps Pension Protection Fund Reduce Scheme Assessment Processing Times

Pension Protection Fund logo

Process Consistency and Automation Provide a Sound Investment for the Future

Key among the benefits of standardizing processes has been the ease with which users can pick up a case from a colleague. They no longer spend time trying to understand where a case is in the process, what steps remain, what documentation has been captured, and where it’s stored.

MAGNUS GERBER, HEAD OF OPERATIONS SOLUTIONS, PENSION PROTECTION FUND

Challenge

  • Pension scheme eligibility assessments taking too long, missing aspirational targets
  • Difficulty in tracking and reporting due to lack of standardized processes and document storage
  • Mixed environment of paper and electronic documents, poor version control, document loss and duplication

Product(s)

Value

  • Contributes towards reducing pension scheme assessment period to fall within two year target
  • Improved ability to meet new and emerging process requirements
  • Reduced cost of operations through efficiency improvements

About Pension Protection Fund

The Pension Protection Fund’s (PPF) main function is to provide compensation to members of eligible defined benefit pension schemes when there is a qualifying insolvency event in relation to the employer, and where there are insufficient assets in the pension scheme to cover the PPF level of compensation. Investing the assets of the PPF effectively is a key function of the organization.