Professional Pensions: The MNOPF and MNRPF have partnered with Heka to proactively locate pensioners unaware of their entitlements, aiming to combat the prevalent issue of missing pension pots, estimated at £26.6bn and affecting one in 20 people. Heka's efforts have already restored contact with 12% of MNRPF accounts, highlighting the global scope of the challenge with 45% of members located outside the UK.
OUR TECHNOLOGY
Unparalleled global coverage and precision
Our advanced data enrichment platform augments and rectifies scheme records, shedding light on members' circumstances and the status of unclaimed entitlements. By harnessing the vast potential of web intelligence, Heka does so faster and more comprehensively than traditional data solutions.
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Unparalleled global coverage
Whereas traditional register-based data enrichment is regionally limited, by definition, web intelligence is truly international. We find members globally, at no extra cost.
>99% precision
Proven >99% accuracy, a best-in-class identity resolution module sits at the heart of our platform. Three-factor authentication is set as a benchmark, where AI identification and image recognition models are employed.
Speed
Return live data more quickly than traditional register-based queries. Our automated platform returns results within minutes, following which all results are reviewed by expert analysts (4+ years of training).
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Global Member Tracing
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Mortality Screening
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Next-of-Kin Identification
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Data Auditing
37% Surge in Unclaimed Pensions: Heka's Solution for Effective Member Contact
Since 2018, the number of unclaimed pensions has increased by more than 37%, to nearly 2 million, driven by rising professional and geographic mobility. Changes in members' communication preferences have only exacerbated the trustees' challenge of restoring contact, as traditional postage is being overtaken by digital channels.
Heka's web intelligence platform identifies and locates members internationally, including their locations, phone numbers, email addresses, messaging applications, and social media accounts. Moreover, we pinpoint their most active contact details. This ensures you have the best possible odds of restoring contact with members, meeting them on their terms.
*The images presented are computer-generated for illustrative purposes, and do not contain any PII.
Addressing Member Mortality Challenges with AI-Driven Web Intelligence
Member mortality - and the appropriate scheme response - is a central issue for trustees. Even a small handful of cases can materially impact a scheme's liabilities management, costing thousands of pounds, and tying up hundreds of thousands in committed capital. And yet, schemes regularly don't learn of members passing for many years.
We provide trustees with a comprehensive and up-to-date understanding of member mortalities. We do so by combining traditional register sources, such as the General Register Office, with AI-driven web intelligence, which sources, interprets, and curates a wide range of alternative sources, such as memorial websites, obituaries, and community posts.
Resolving Estate Entitlement Uncertainty with Targeted Contact Tracing
Notification of a member's passing can give rise to important governance issues. In the first place, it may not be clear whether any residual entitlement is owed to their estate, or to their next-of-kin. We address this uncertainty by tracing the member's estate or beneficiary (typically their spouse), and identifying their contact details, mortality status, and other key data. Armed with this knowledge, trustees can ensure that they are meeting their obligations with confidence
Improve Record-Keeping Accuracy to Avoid Regulatory Sanctions
Prevention is better than cure! The Pension Regulator has recognised as much and requires pension schemes to score their record-keeping annually and to submit the results. Sub-par record-keeping needs to be addressed through a rigorous data improvement plan, and can even lead to regulatory sanctions.
We help schemes ensure that their record-keeping remains of the highest possible caliber, whether as part of long-term planning or by designing and implementing their data improvement plan in collaboration with administrators.
TV FEATURE
WATCH THE FULL INTERVIEW HERE
Asset TV Interview with Rory Murphy: Enhance Endgame Planning with Advanced Contact Tracing
In this episode of Pensions Pod, Rory Murphy, Chair at MNOPF Trustees Ltd (Merchant Navy Officers Pension Fund), discusses efforts to enhance pensioner well-being amidst COVID, including webinars and member tracing.
ARTICLE
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Professional Pensions: Tracing Pensioners in the Digital Age
PRESS RELEASE
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