The role of technology in modern pension solutions

The way we handle pensions is no longer completely up to date. A collective pension fund that people participate in who no longer work for a company. Where young people pay for the elderly. And where no one knows how it works. Seriously? We live in the information age! We are individuals. And there are not enough young people to pay for the elderly! 

Technological innovations. We have seen a lot of them already. But why not in pensions? Because so much is possible! With the help of technology, employers can be relieved, and employees can gain better insight into their pension accrual. How that works, you can read in this blog.

Why technological innovation is necessary

Ignorance is bliss. That is what the well-known proverb says. And that is also the case with pensions. We know we should do something about them. But because pension funds are not very transparent, complex, and actually very rigid, we are not actively involved ourselves (perhaps we avoid them a little?). We trust that the employer will arrange it and knows what they are doing. But for the employer too, a pension is a big and expensive question mark. And also a question mark that costs a lot of administrative work. In many cases, there is therefore no pension, precisely for the earlier reasons. But that is still a loss for your old age, especially if it does not have to be. 

Technological innovations offer solutions for these challenges. 

These days, we are practically married to our phones. There is an app for everything. So why not for pensions? Because a pension app can give an employee a lot of insight into their pension accrual. For this to work, the pension must, by the way, be accrued individually. Which naturally fits perfectly with the current zeitgeist. People also want a lot of flexibility. That too can be achieved with the help of an app (“There’s an app for that”). How? We will explain it to you. 

More appreciation for pensions thanks to technology

A complaint we often hear from employers is that employees do not really appreciate their pension. But this can be truly different. They also noticed this at energy company Spectral. As soon as their employees started using the Vive App, they suddenly became very enthusiastic about pensions. They started talking to each other about what they were doing for their pension. And they could also show this to each other via the app. This encouraged the employees mutually to think better about their pension and to truly take their financial planning into their own hands. 

How does the app work?

With our app, employees can gain insight into their pension accrual at any moment. They can easily see how much they have accrued, how their money is invested, and what returns they can expect. This transparency helps employees to appreciate the value of their pension scheme and become actively involved in their financial planning. No more strange and difficult online portals that seem to date back to the year dot. 

Technology stimulates active involvement in financial future

Technological progress in the pension sector offers numerous advantages that far surpass traditional methods. They make pension management simpler, more transparent, and better aligned with the individual needs of employees, ultimately leading to a more involved and satisfied workforce.

Companies that invest in technological pension solutions often see a significant increase in the involvement of their employees, just like the aforementioned company Spectral. The internet company MiWebb also had a similar story. This company noted that the staff appreciated the transparency and ease with which they could manage their pension, which led to a proactive attitude towards their financial planning.

By using modern technologies, employers can offer their employees the tools they need to make informed decisions and be actively involved in their financial future​.

Revolution in pensions

Technology plays a crucial role in the modernisation of pension solutions. Through innovative applications such as digital platforms, employees gain better insight into their pension accrual and can make well-considered decisions. This leads to increased involvement and satisfaction among employees.

Financial education becomes more accessible through technology, better preparing employees for their financial future. Companies that invest in technological pension solutions see the benefits in terms of employee satisfaction and involvement.

The future of pension solutions lies in continuous technological innovation. That is why we want to encourage employers to consider modern technological solutions to offer their employees the best support with their financial planning and pension accrual. 

Technology not only improves efficiency, but also employee involvement and satisfaction. And that is what you want. Especially in today's labour market.

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