An existing client was struggling to make informed decisions on a significant number of monthly individual member discretion cases due to poor internal processes and inconsistent data.

Our Team pro-actively approached the client and suggested a streamlined approach to facilitate the effective and efficient management of cases.

The universe of beneficiaries was thoroughly investigated and considered before death benefits were paid in a timely manner.

The Process

Our legal specialist put in place a bespoke discretions checklist which was developed in consultation with the Trustee and subsequently implemented as a master template for all future discretion cases.

The aim of the checklist was to:

  • Ensure consistency of information given to the Trustee;
  • Cut down on the back and forth between the administrator, us and the Trustee which significantly added to the overall cost and time of claim processing and settlement.

The checklist had 17 distinct categories which included a comprehensive explanation of the relevant fund rules per claim along with a detailed family history.

It was further agreed that Inside Pensions would only review the information before presenting it to the Trustee if the administrator had completed in full all the categories on the checklist.

The Result

The Trustee was able to consider each case in one sitting with all the relevant information compiled and presented in a comprehensive and consistent manner. This halved the time previously spent on reviewing and settling each claim.

The overall costs associated with investigating and processing each claim were significantly reduced.