Empowering Local Government Pension Schemes with advanced data solutions
Simplifying pension scheme management
The management of pension schemes, particularly within the local government sector, is becoming increasingly complex. Ensuring the accuracy of member data, safeguarding funds, and meeting regulatory requirements are just a few of the challenges faced by these schemes.
At LexisNexis® Risk Solutions, we understand these challenges and have dedicated ourselves to providing innovative solutions tailored to the needs of pension schemes.
We are proud to announce that that LexisNexis® Risk Solutions has been successfully appointed as a provider to this framework, supporting Local Government Pension Schemes (LGPS), further solidifying our commitment to supporting the pension industry.
Supporting the pension industry with cutting-edge solutions
We specialise in delivering data-driven insights and solutions that empower organisations to manage risk effectively.
For the pension industry, our services focus on several key areas:
Data accuracy and member verification
Accurate data is the backbone of effective pension scheme management. We provide robust member data services that help pension schemes maintain up-to-date and more accurate records. This not only helps to ensure compliance with regulatory requirements but also enhances the overall efficiency of scheme operations.
Our advanced identity and bank account verification tools help to ensure that payments are made securely and to the correct recipients, minimising the risk of fraud and ensuring that members receive their rightful benefits.
Fraud prevention
Regulatory compliance
Enhanced decision-making
In today’s data-driven world, having access to reliable and comprehensive data is key to making informed decisions. Our solutions provide pension schemes with actionable insights that enable better decision-making across all aspects of scheme management, from investment strategies to member engagement.
With the industry becoming more focused on digitalisation ahead of the Pensions Dashboard Programme and encouraging member engagement through digital channels, ensuring you hold the correct member data and contact data is key. Our solutions can provide trusted contact data to help you and your members on the journey to digitalisation.
LexisNexis® Risk Solutions and the Local Government Pension Schemes
Our successful appointment to the ISP and Member Data Services framework for Local Government Pension Schemes (LGPS) underscores the trust and confidence the industry has in our capabilities. We are excited to bring our expertise to LGPS, where we will be offering a range of services that align with the specific needs of these schemes.
As part of our service offering, LGPS will have access to:
Integrated Data Services
Bank Account Verification
Compliance Support
The value of partnership
Partnering with LexisNexis® Risk Solutions means gaining access to a wealth of expertise and resources designed specifically for the pension industry. With over 20 year’s expertise working with the UK’s leading pension providers delivering innovative solutions that meet today’s challenges, our solutions are not just about managing risk — they're about enabling pension schemes to operate more efficiently, protect their members, and ultimately deliver better outcomes.
We understand that every pension scheme is unique, with its own set of challenges and objectives. That’s why we offer tailored solutions that can be adapted to meet the specific needs of each scheme. Whether you are looking to improve data accuracy, enhance fraud prevention measures, or ensure compliance with regulatory requirements, we have the tools and expertise to help you succeed.
For more information on our services available via the National LGPS Framework please visit the National LGPS Frameworks website.
Recent success with pension schemes
Halving redemption delays
Just Group was able to reduce redemption delays by 50%, improving the experience for families, especially during sensitive times like bereavement. This resulted in faster payout times and peace of mind for beneficiaries.
40-day overpayment reduction
BT Pension Scheme reduced its average overpayment period to 40 days through enhanced mortality data tracking. This allowed them to identify deceased members more quickly, minimising unnecessary payments.
Improved pension processing for over 10 million customers
Royal London leveraged LexisNexis® Risk Solutions to enhance their customer data management, leading to better decision-making and more efficient pension processing across a massive customer base.
