Many people are contributing to their retirement plan or enjoying retirement with various pension funds. It is essential to look at both the good points and simultaneously invest in improvements that can be made. APG, therefore, conducted an extensive data analysis to learn how well its services are functioning and what next steps can be taken.
The data analysis revealed that some members received too much or too little pension over the years. This has financial consequences for affected participants, such as unexpected lower income when too much pension has been received and must be returned. On the contrary, if a participant has received too little and this is later refunded, it can cause supplements to be lost or additional taxes to be paid.
Looking at the future, another crucial aspect of the transition to the new pension system is transferring all APG's data to the new systems. The 'Grip on Data' program has been launched to ensure that this transition runs smoothly. This enormous undertaking contains the data of millions of participants. Data that spans decades must be readily organized before the new pension system goes into effect. APG is currently working on new methods for analyzing data and linking data so that control can be even better.
The ‘Grip on Data’ program consists of three workflows:
- Diagnosis
- Recovery design
- Recovery implementation
The diagnosis team is concerned with detecting (potential) sources of new recovery actions and performing an initial analysis of new issues regarding cause and impact. In recovery design, the team focuses on further analyzing the recovery action. It also creates a plan for the solution and recovery action. In addition, the team also considers how to prevent the identified error from happening more often. In the recovery execution, the team ensures the recovery design's implementation and realizes the participants' recovery. Moreover, they implement control measures to prevent future errors.