Previnet: Cross Borders Pensions in the EU The Austrian Project

Transcription

1 Previnet: Cross Borders Pensions in the EU The Austrian Project Just visit and discover the Previnet s new opportunities for: Cross-border and domestic pension schemes IORPs International Pension Plans Life and non-life Companies Mutual Funds and Global Custodians February

2 Confidential Reproduction, reprint or reuse of this document or of any partial content is forbidden without written authorization of the author. Riservatezza Sono proibite riproduzioni, anche parziali, del contenuto di questo documento senza la previa autorizzazione scritta di Previnet S.p.A. La corretta interpretazione dei contenuti è subordinata alla loro contestuale presentazione orale, della quale il documento costituisce la base ed è parte integrante. copyright 2015 Previnet S.p.A. 2

3 Afraid of going cross-border? YOU SHOULD NOT! 3

4 Agenda Why cross-border: the Members perspective Previnet who we are Previnet - what we bring along Our Cross-Border Proposition 5 key messages Solutions available - overview Samples: Website for members Mobile solutions for smartphone and tablets Pension projections Tutorials & Risk profiler Central reporting 4

5 Why cross-border: the Members perspective Reduction of costs our experience says that local solutions are expensive in all Europe, Austria included. Costs are high for the admin side and also for the management of the investments Better investment returns more assets to manage = economies of scale, less costs, diversification, income protection, Tax efficiency contributions to IORPs are tax-deductible Wider range of investment options within the same pension arrangement more flexibility in accordance with Plan Rules and country requirements Clear and understandable member s communication pension benefit statement as per EIOPA indications Easier interaction with the pension scheme different channels available: website, apps for tablet and smartphones, access through social networks, New learning tools video tutorials, pension projections, risk profilers 5

6 Previnet Who we are Outsourcing Solutions CROSS-BORDER & LOCAL solutions for: Pension schemes IORPs International Pension Plans Life and non-life Companies Mutual Funds and Global Custodians Insurance 32% Sales breakdown Finance 23% Pension Funds 45% Pension Funds Insurance Finance Project Set-Up and Migration Member record-keeping Contribution & data collection Cash & holdings reconciliation Investment mgmt & order routing Switches & Life-Style Output & Reporting Accounting Benefits administration On-line functionalities (members, Employers & HRs, plan sponsors) Apps & Social networks Policy Holder Administration Portfolio & Claims Administration Front-end platforms for distribution channels Technical Accounting and General ledger Securities Administration Full / Partial Outsourcing model Business Process Outsourcing model Supporting functions: Mobile & Web portal for members, processes monitoring, profiling system, comparators tariff Fund Administration and Securities Management including NAV calculation, fund accounting and middle/back office services Regulatory Reporting TA and Investor services Local Transfer Agent services Back office services Web solutions Software tools for portfolio managers Software solution for multi-brand loan and mortgage brokers Market leader for Pension fund admin More than 220 pension funds AUM: more than 15 billion firms 52 insurance Companies (Life & Non-Life / Group & Individuals) 1,500 + insurance products under mgmt 40 SGR/SIM Over accounts AUM: more than 24.5 billion 6

7 Previnet: What we bring along? 20 years of expertise in pension administration 220+ schemes managed, 1.5 mln members Real and not theoretical cross-border experience the NATO DCPS case Multi-lingual / multi-currency / multi-country / multicurrency / multi-employer consolidated experience 9 languages managed, 7 currencies, 13 countries, 150K+ employers Administration system fully developed and maintained inhouse flexibility, independence, quick response Cost-efficient solutions our admin costs are at least 50% lower if compared to other EU countries ( = value for money) Financial education e communication capability focus on members This make our cross-border proposition POSSIBLE 7

8 Our Cross-Border Proposition - 5 Key Messages 1. Previnet can handle multiple countries DB & DC administration Pensions administration is delivered from ONE central admin platform, available online to all the relevant stakeholders (+ ringfencing, + flexibility per country and Plan Rules, + ) 2. Previnet can centrally coordinate the pension administration and provide consolidated reporting relating to the management of the IORP strong governance and control 3. Previnet provides multilingual portals the members communication portal currently manages 9 languages, it is multicurrency and it can be accessed by employees and employers in different countries. Not to mention apps 4. Previnet supports an open DC investment platform which can be used by the IORP vehicle Any fund manager or product (with guarantee or not) can be placed on the investment platform 5. Previnet has established a partnership with an EU network of professionals to get and maintain local Tax & SLL knowledge 8

9 Previnet proposition: Solutions available Local Employers HR & Payrolls Uploading tools Multilingual website 0Apps On-line functionalities & text alerts Forms on Line Control & anomalies panels Technical Helpdesk Social Networks Pension check-ups Employees (Members) Simulation tools Statements in one click IORP, MNC Company HQ, Trustees, Consultant, TPA partner Centralised admin platform Aggregated reporting Dedicated website Cross-border engine 9

10 Members: interactive website Members get a full set of information and tools in the secure area of their pension scheme website 10

11 Members: multi-lingual apps for smartphones Members are engaged using mobile technology: apps for smartphones and tablets. The apps developed by Previnet are multilingual and can be personalized according to different needs 11

12 Members: tutorials The online Risk Profiler developed by Previnet supports the members financial education. It comes along with the Learning Area and the Risk Questionnaire 12

13 Members pension projections Members are provided with a pension benefit modeller which provides online calculation of the final benefit payable (DC/DB). Members can choose: Pay-in currency (contributions) and pay-out currency (lump sum and/or annuity) Investment options (as per the Rules of the scheme) Life-style strategies Change in NRA Increase in salary market conditions (+ / - / =) 13

14 Plan sponsor admin platform The centralised cross-border admin platform is dedicated to the IORP Board, the plan sponsors all the relevant stakeholders. The online admin platform supports online viewing of the full pension scheme database and includes a full range of reporting options, dashboard and exporting tools 14

15 15 Martino Braico Senior Manager tel mob