Simplify your work with reliable and efficient occupational pension administration

Occupational pension administration is a complex area that requires considerable expertise. Employers have a major responsibility to get it right. Given the risk of costly and time-consuming corrections, it is important to understand the complexity and ensure that everything is handled correctly.

Managing occupational pension administration is often time-consuming and difficult. Particularly if you work in an organisation with several collective agreements and many employees. However good your procedures and processes are, there is still a significant risk of errors. Errors that can be difficult to detect and may require costly corrections.

For 30 years, FörsäkringsGirot’s mission has been to simplify pension administration for businesses. With our extensive experience, digital systems and strong in-house expertise, we ensure that your employees receive the right pension and insurance benefits every month throughout the year.

It is possible to reduce the risk of administrative errors, gain control of your costs and fulfil your pension promise without increasing the administrative burden on you and your employees. Understanding what support is available and what it means for your day-to-day work can help you make better decisions as you strive to offer a secure solution for your employees.

Reduce risks by getting administration right

Occupational pension costs are your second-largest expense as an employer, after salary costs. There is often an established procedure for managing payroll and, above all, a built-in check, as employees quickly notice any errors.

Unfortunately, the same is not true of occupational pensions and pension costs. Employees generally have little understanding of what their employer should pay for each individual every month, and are often unaware of the consequences any errors may have for them.

We can also add that, according to our reviews, around one in five employees has incorrect insurance cover.

Common errors

Common errors include continuing to pay insurance premiums after an employee has left, applying collective agreements and pension policies incorrectly, and calculating pensionable salary incorrectly.

Read more about the most common mistakes in occupational pension administration.

As an employer, you have extensive responsibility for your employees and for ensuring that their occupational pensions and insurance arrangements are managed correctly. It is therefore essential to prioritise your occupational pension administration and ensure it is handled properly.

Systems, procedures and a clear pension policy provide clarity

As occupational pensions are a complex area, bringing in external support can also offer significant benefits and help ensure that everything is done correctly.

To improve quality and reduce the risk of errors, we have developed an automated monthly process that integrates HR, finance and payroll. This means that the entire workflow, from payroll data, reporting and invoice payments to bookkeeping, is automated, systematic and controlled.

The automated process includes:

1. Data import
   Importing and checking a file from the payroll system at payroll transaction level for both current employees and employees who have left.
2. Checking and collating
   Collating and reviewing employment changes and generating insurance events.
3. Reporting
   Reporting to your insurers, advisers and other parties.
4. Invoice management
   Recording and checking premium invoices from insurers, administration companies and brokers.
5. Discrepancy checks
   Checking that the right person is insured for the right period, based on correct reporting.
6. Payment documentation
   Compilation of the month’s invoices, documentation for payment.
7. Payment
   Initiates payment no later than the due date.
8. Bookkeeping
   Preparation of accounting documentation for premium costs, including payroll tax.

By bringing the entire process together, you and your colleagues can gain control within the same system and follow the whole process. While also having access to historical events at individual level. To save even more time, you can also let us manage the entire workflow.

As your partner, we help you comply with regulations and fulfil your promise to your employees. And you can feel confident that you have acted correctly as an employer. With us as your partner, you always have access to specialists and support on how to handle new or unusual events.

Let us show you how we can best help you

Do you need to review your occupational pension and insurance administration? Or simply find out how to work more efficiently and make sure everything is done correctly?

Contact us for a brief chat and we’ll explain how it works and how we can help.

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