The way we manage pensions is no longer completely up-to-date. A collective pension fund that includes people who haven't worked for a company for ages. 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 aren't enough young people to pay for the elderly!
Technological innovations. We've seen a lot of those already. But why not in pensions? Because so much is possible! With the help of technology, employers can be unburdened, and employees can gain better insight into their pension accrual. You can read how this works in this blog.
Unknown makes unloved. That's what the well-known proverb says. And that's also the case with pensions. We know we have to do something about it. But because pension funds are not very transparent, complex, and actually very rigid, we are not actively engaged with them ourselves (maybe we even avoid them a bit?). We trust that the employer will sort it out and knows what they are doing. But for the employer too, pensions are a large and expensive question mark. And moreover, a question mark that costs a lot of administrative work. In many cases, there is no pension at all, precisely for the earlier reasons. But that is a loss for your old age, especially when it doesn't have to be.
Technological innovations offer solutions for these challenges.
We are practically married to our phones these days. There's 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 be accrued individually, by the way. Which, of course, fits perfectly with the current spirit of the times. People also want a lot of flexibility. That too is possible with the help of an app (“There’s an app for that”). How? We'll explain it to you.
A complaint we often hear from employers is that employees don't really appreciate their pension. But this can really change. They also saw this at the energy company Spectral. As soon as their employees started using the Vive App, they suddenly became very enthusiastic about their pension. 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 to think better about their pension and to truly take their financial planning into their own hands.
With our app, employees can gain insight into their pension accrual at any time. They can easily see how much they have accrued, how their money is being 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 from the year dot.
Technological progress in the pension sector offers numerous benefits that far surpass traditional methods. They make pension management simpler, more transparent, and better tailored to the individual needs of employees, which ultimately leads to a more engaged 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. But the internet company MiWebb had a similar story. This company noticed that 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.
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-informed decisions. This leads to increased engagement and satisfaction among employees.
Financial education becomes more accessible through technology, making employees better prepared for their financial future. Companies that invest in technological pension solutions see the benefits in terms of employee satisfaction and engagement.
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 for their financial planning and pension accrual.
Technology not only improves efficiency, but also the involvement and satisfaction of employees. And that's what you want. Especially in today's labour market.