Pension Protection Fund
OpenText Helps Pension Protection Fund Reduce Scheme Assessment Processing Times
Process Consistency and Automation Provide a Sound Investment for the Future
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.