Wiltshire Pension Fund, Trowbridge, England, is searching for a firm to provide mortality screening services. It is the first time the £1.5 billion pension fund has decided to look for a firm to provide the services, Martin Downes, pension fund systems manager, wrote in an e-mail.
The mortality screening process is “a method of comparing a pension fund's pensioner and deferred data with various death registers in the U.K. to highlight all death cases of members to ensure that benefits are paid out in a timely manner and that records are kept up to date,” Mr. Downes wrote.
The process can prevent fraud and overpayment of benefits, he wrote. He wouldn't elaborate but added the pension fund will make a statement regarding the reasoning behind the hire once the search is completed.
He did note the mortality screening industry is a growing one, with more pension funds using these services.