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The Pensions Regulator last week released its annual record-keeping survey, which once again showed smaller schemes were falling behind their larger counterparts.

The regulator's target for common data is 100 per cent for records created after June 2010, and 95 per cent for records created before that time. These are items that are used by all schemes to uniquely identify members. 

The watchdog's survey found 33 per cent of small schemes have a common data score of 95 per cent or higher, compared with 64 per cent for large schemes. 

 

Source: The Pensions Regulator

Even though more schemes now have a common data score of 95 per cent or higher, the proportion of schemes not measuring their common data has not decreased significantly. 

 

Source: The Pensions Regulator

There was, however, a significant increase in schemes receiving a conditional data score of over 90 per cent. Conditional data is defined by the regulator as "scheme-specific data needed to calculate members benefits, such as pensionable salary or contributions". 

 

Source: The Pensions Regulator

The proportion of schemes not measuring conditional data has remained high on the smaller end.

 

Source: The Pensions Regulator

Administrators said the regulator could provide more clarity on targets for conditional data.

However, the regulator has said that the scheme-specific nature of conditional data makes it difficult to set targets: 

Conditional data

Source: The Pensions Regulator

Schemes cited "not a priority" as the primary reason why conditional data was not being measured. 

 

Source: The Pensions Regulator

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