How they moved from complexity to control in their pension management
It is possible to move from complexity and uncertainty in your occupational pension management to control and clarity. One of our clients is a clear example of this. With our help at FörsäkringsGirot, they have transformed and simplified their approach, bringing peace of mind to every aspect of pension administration.
Regardless of company size, an incorrectly managed occupational pension can pose a financial risk. But there are ways to reduce the risks and ensure correct management for you as an employer and for your employees.
At FörsäkringsGirot, we help over 200 companies each year ensure their occupational pension administration is handled correctly. These companies vary in size and operate in different sectors. What they have in common is a need to ensure that their employees’ occupational pensions and other insurance are managed correctly.
From complex and time-consuming processes…
One of the 200 companies currently supported by FörsäkringsGirot has thousands of employees and a complex pension policy covering both manual and non-manual workers. They are not alone in this situation. Establishing sustainable and efficient pension management on your own can be difficult. Especially if you have several collective agreements, individual bespoke agreements, many different pay components and a need for detailed financial reporting. This was exactly the situation at this company.
“We had many bespoke agreements, different pay components and manual procedures. Which always meant there was a risk of something falling through the cracks.”
With challenges such as variable pay components, incorrectly reported absences and ambiguously worded bespoke agreements, pension management was a complex issue. Faced with these challenges and keen to establish cross-functional collaboration between HR/Payroll and Finance, the company looked for a sustainable and efficient structure. With the aim of minimising risks and freeing up time.
… to day-to-day control
Working with us at FörsäkringsGirot has enabled pension reporting to be automated, saving time while reducing the risk of human error. The risk of late invoice payments has been eliminated entirely, leading to cost savings.
“We haven’t paid a single invoice late since we went live; that saves both time and money.”
As well as streamlining reporting and administration, a structure has been established with clearer follow-up and better collaboration between internal stakeholders. Quality-assured, up-to-date data has strengthened decision-making. The key is being proactive rather than facing unpleasant surprises, identifying discrepancies early and working continuously to improve and achieve the goals set.
“The goal is to spend more time on analysis and strategic decisions, and less on troubleshooting and manual administration.”
An efficient and sustainable structure for the future
With tailored system support, clear procedures and a shared focus on quality, this employer can now feel confident in its occupational pension management. The previous risks and challenges have been addressed, and reliable pension management provides predictability and reassurance that employees will receive the correct pension in the future.
“By continuing to develop our processes and working with the right partner, we can create pension management that is both sustainable and future-proof.”
Take control of your occupational pension administration
Curious to hear how we can help you move from complexity to control? Working with the right partner gives you the opportunity to create efficient, risk-free and sustainable pension administration.
Please don’t hesitate to get in touch.
You can calculate the risks in your occupational pension administration
It is widely recognised that occupational pension administration is complex. However, it can be difficult to translate that complexity into the financial risks you face as an employer, in kronor and öre. Until now.