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Andrew Warwick-Thompson to leave TPR 17 May 2017
The Pensions Regulator (TPR) has confirmed that Andrew Warwick-Thompson will leave his post of Executive Director for Regulatory Policy and join LGPS Central as CEO.
Mr Warwick-Thompson joined the Board of TPR as an Executive Director in 2013 where he has been responsible for shaping regulatory policy across TPR’s defined benefit and defined contribution scheme work, including master trusts, and has overseen its risk and data functions. Lesley Titcomb, Chief Executive of TPR said: “I want to congratulate Andrew on his new role and wish him all the best for the future. I know he will demonstrate the same energy and commitment we have benefited from at TPR over the last few years. We have a dedicated and expert team at TPR who will continue to shape policy which helps to protect members of workplace pension schemes.” Mr Warwick-Thompson said: “I have hugely enjoyed my time at TPR, not least because of the calibre of people I have had the opportunity to work with. I know that the team of people I leave behind will continue to work with commitment and drive. I care deeply about making pensions work for people and will relish the opportunity to continue that work in my new role.”
Mr Warwick-Thompson will join LGPS Central in July and TPR will announce a successor in due course.
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Tackling 'dirty data' is crucial for pensions dashboard to succeed 17 May 2017
Research has revealed a majority of providers are missing invaluable customer information necessary for the pensions dashboard to succeed.
Professional Pensions reports that in the first study of its kind that looks at the quality of data in such detail, ITM examined information from over 440 pension providers and schemes with more than 20 million members. The firm, which is one of six technology partners for the Treasury's Pensions Dashboard Prototype project, investigated whether the quality of existing pensions data could be used as a basis for matching data to an individual in the final working dashboards.
The findings demonstrate the challenge the industry faces in getting the data up to a standard, which can be used for the multiple dashboards that are expected to be developed through the coming years.
Pension products set up before 2000, which account for over three fifths of the total number of member pots featured in the survey, were found to have the highest average levels of inaccurate or missing customer data.
ITM chairman Duncan Howarth said:
"It's no surprise in some ways that pension products before the millennium have the poorest quality data, given that many of these survey respondents will have inherited a portion of their data from previous providers where data was maintained on different systems and even in some cases, hand-written documents.
These high levels of inaccurate data reveal that the industry is a long way from achieving the high data standards needed for fully functioning pensions dashboards. Connecting the sheer volume of data out there is a crucial."
Accuracy and availability of national insurance (NI) numbers, date of birth, postcodes and initials/surname were all flagged up by ITM as essential for live pensions dashboards to function effectively.
Postcode data was identified as a particular issue for occupational schemes, with 60% inaccurate or missing among defined benefit (DB) schemes from before 2000 with a value of between £100,000-£200,000.
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