The Pre-Claim Process includes the following:
· Receiving notification of a pending exit
· Sending the appropriate claim form to the member
· Following up the completion and return of the claim form
· Sending the details to a tracing agent if no response is received
The Pre-Claim Process is used in cases where the retirement fund is advised of members that are exiting the fund and the Fund Administrators then send the appropriate claim form to the member and manage the process of getting the completed claim form from the member.
Once the fund is notified of an exit, the member’s investments are transferred to a money market portfolio on the date of exit and when the claim form is received, the claim payment process is started.
After six months, if no claim form has been received the member’s details are sent to a Tracing Agent to try and locate the member.