Powering precision in retirement plans - Iron Mountain solutions for retirement and pension plans

Business challenges

Retirement and pension administrators are responsible for handling the day-to-day operations of retirement and pension funds on behalf of members, ensuring compliance with changing regulations, legislation, and contractual requirements. They must provide accurate information to support their members, but critical data is siloed across many systems, sources, and formats, impeding timely, accurate decision-making. As companies look to streamline operations and reduce costs, administrators are exploring ways to accelerate digital transformation, focusing on high-quality data.

Impact

Administering retirement and pension plans involves managing massive documentation and digital information. Today, valuable specialists must deal with large volumes of disparate, unstructured data stored, both physically and digitally, across different systems and locations. Accurate plan data is vital. Any mistake in the collection, storage, or reconciliation of this data can result in calculation errors, leading to fines, non-compliance, reputational damage, and member frustration.

What if you could

What if you could digitize and streamline retirement and pension record management, allowing your organization to:

• Make information more accessible and useful, instantly finding critical retirement and pension data from unstructured documentation in a single intuitive platform.
• Automate targeted manual and repetitive processes, streamlining operations and boosting productivity with artificial intelligence that can reduce costs.
• Reinforce compliance through full end-to-end access and event audit trails, including document collection and digitization services provided as part of an overall service framework.

Overcome legacy document processing challenges and confidently make efficient decisions based on accurate data. With digital access to unified and accurate retirement and pension records and data, you can reduce costs, time, and effort in managing your data