Each year, Public Pension Fund (PPF) pays out more than $2.8 Billion in pensions to more than 100,000 retirees and their beneficiaries.
Challenge:
For years, PPF worked with a third party to identify decedents. On average, they would receive 100 to 150 identified deaths per month, but PPF in further review discovered they were missing decedents and were potentially making overpayments. In addition, they struggled with the user experience their third party provided. It was difficult to access files and the support they needed to resolve these issues was limited.
Early 2019, PPF went to market in search of a new death audit provider. PBI Research Services was asked to take part in the RFP process. After a thorough review, it was clear that PBI Research Services was the right provider for PPF, and they moved forward.
Results:
The first file sent from PPF to PBI Research Services identified over $200k in overpayments, some dating back several years. Today, PBI Research Services is identifying over 600 new deaths each month which is over 4x the previous provider. “With over $2.8B paid out annually, missing even 1% of decedents has a significant impact on us. Not only do we receive better data from PBI Research Services, but the end user experience is much better, and the account management team is top notch. PBI Research Services has made our pension system better.”, said the Manager of Ancillary Benefits for PPF. “I give PBI Research Services a glowing review. There is no better death audit provider in the market.”
Learn more about PBI’s death audit solutions here.
