Get a clear picture of your pension administration with a current-state review
Our reviews have shown that around one in five employees has incorrect insurance cover. Are you sure this does not apply to you? Occupational pensions are a complex matter, and changes to both regulations and your organisation can easily lead to mistakes. Mistakes that can take time to discover.
The five most common mistakes employers make when administering occupational pensions and insurance.
FörsäkringsGirot has helped companies manage their occupational pensions for over 30 years. As a market leader in occupational pension administration, we ensure that our clients’ employees are reported correctly so they receive the correct pension in the future.
Carrying out a current-state review is a first step towards understanding the situation in your organisation and identifying any errors. Understanding your current position allows you to plan and ensure correct administration in the future.
What a current-state review should tell you
A current-state review provides valuable, objective insight into your pension administration and should help guide your future work. A current-state review should give you answers to the following:
- Your current position in relation to your pension policy and applicable regulations
- How many employees have incorrect insurance cover
- The extent of your risk exposure
- The additional cost of incorrectly paid pension premiums
- The size of any pension liability you may have
Contact us to find out more about the current-state review.
What can a current-state review of your pension administration offer?
A current-state review aims to identify any shortcomings and discrepancies in the administration of occupational pension arrangements, with the goal of ensuring that pensionable pay (PGL) is reported correctly for all employees.
The scope of the current-state review
Our current-state reviews are based on applicable regulations and check that enrolments, salary changes and deregistrations have taken place at the right time.
In brief, a current-state review includes:
- A review of pension and insurance policies, procedures and recommendations from administration companies for reporting events that affect benefits.
- Verification and calculation of all employees’ pensionable pay based on applicable regulations and collective agreements.
- Checking that all employees have insurance cover in accordance with collective agreements and any individual arrangements (high-level review only).
- Checking invoicing from administration and insurance providers.
The current-state review is made possible by FörsäkringsGirot’s systems and established process for occupational pension administration and for gathering information on salary reporting and invoice processing. The work involves a range of checks against records held by Collectum, Alecta, Fora and insurance intermediaries, among others.
Gain greater insight into your occupational pension administration
The findings of the current-state review give you valuable insight into what is working well and less well in your occupational pension administration today. A current-state review should help you understand the risks you face and what you need to work on to ensure correct administration in the future.
It is important to us that you understand the findings of the current-state review and what these findings and discrepancies mean for your organisation and your employees. So that the current-state review can help reduce costs, ensure regulatory compliance and, in the long term, reduce the risk of errors in occupational pension administration.
Let us show you how we can best help you
The first step towards making your occupational pension administration more efficient is to understand your current position. Get in touch and we will tell you more about how we can help you achieve reliable occupational pension administration.