Situation
In response to the WTP and the Code of Conduct from the Pension Federation, a pension provider faced new, stringent directives for handling participant expressions. These regulations impacted the entire client management process, from registration to reporting and governance. To ensure compliance, our client requested objective advice on integrating these changes across its operations, including adjustments to its evolving application landscape.
Approach
We supported our client by drafting a policy note for the updated participant process and its implications. A gap analysis was conducted to identify necessary operational and system changes.
A practical implication plan was created, based upon the gap analysis. Key focus areas included improving data administration by retrieving missing data and updating their systems to ensure compliant handling of participant expressions.
Results
Valcon’s client now has a clear and actionable framework to comply with the new regulatory requirements for participant expression management. The organisation’s enhanced data administration capabilities ensure accurate tracking and reporting, supported by an optimised application landscape with a newly streamlined process.
Our client is now well-positioned to manage participant expressions efficiently to further improve overall customer satisfaction.
