We know that the pension professionals in your office work hard to keep your membership data current, and it’s no small task.
According to Statistics Canada, 250,000 Canadians die each year, of which 180,000 are 65 years of age and older. Timely awareness of the death of a pensioner, policy holder or plan member is a fundamental business concern. Discovering who these Canadians are and determining whether or not they are part of your member base is a time consuming, labour-intensive task. Knowing where to start can help reduce identity fraud, identify potential overpayments and improve file maintenance.
Deceased ID is a diagnostic tool that allows you to check your list of plan members against the Equifax database of confirmed deceased individuals.
Deceased ID expedites the auditing and validation process by identifying your pension members who may have passed away, thus allowing you to:
- Better employ your resources by beginning your audit focused on potential matches with our data versus assessing your entire database
- Minimize the time, effort and resources dedicated to recovering payments on deceased plan members’ accounts
- Compare your plan member list to our confirmed database of deceased Canadians