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Ever wonder how to track your pension as an EU citizen? Take a look here.TRANSCRIPT
A FEASIBLE DESIGN FOR A EUROPEAN PENSION TRACKING SERVICE (ETS) 26 March 2015
CORIEN WORTMANN-KOOL | ABP (NL)
PROGRAM - PART 1 13.45 Welcome and introduction by Martin Siecker (EESC), Harry Vossebeld (TTYPE/PGGM) and Marianne Thyssen (EC) 14.00 Guy’s pension - animated video 14.05 A feasible design - TTYPE results 14.40 How is the design perceived by potential users - panel debate 15.10 The political perspective on European pension tracking - panel debate 15.45 Ambition of the European Commission on European Pension Tracking 16.00 Break 16.30 Start of Part 2
MARTIN SIECKER | EESC (EU)
HARRY VOSSEBELD | PGGM (NL)
MARIANNE THYSSEN | Commissioner (EU)
A FEASIBLE DESIGN - TTYPE RESULTS TITUS SIPS | APG (NL) RICHARD LUGTIGHEID | PGGM (NL)
A EUROPEAN PENSION TRACKING SERVICE A must have
ADVANTAGES FOR CITIZENS • Overview of pensions and pension
entitlements across Europe
• Help in finding pension providers
ADVANTAGES FOR PENSION PROVIDERS • European channel for communicating
with their participants • Help in finding their lost particpants
• Enrich providers website with ETS functionality
ASSIGNMENT: EUROPEAN FOCUS A feasible high-level design for an ETS, including recommendations for a successful implementation
Understanding your pension:
ETS DOES NOT NEED ADDITIONAL LEGISLATION
ETS IS COMPLIANT WITH EXISTING LEGISLATION
STEP CHARACTERISTICS • Ownership:
• Governance:
• Financing:
• Financing:
STEP is not owned by another body
Include key stakeholders
Free of charge for EU citizens Financed by pension data providers (including NTSs) and the EC
THE ETS SHOULD BE IMPLEMENTED THROUGH A STEP-BY-STEP APPROACH • Realisation of the IT system
• Implementation
• A separate implementation project for each countr y
• Focus on connecting 1 st and 2nd pi l lar
A EUROPEAN PENSION TRACKING SERVICE Advancing pension
A EUROPEAN PENSION TRACKING SERVICE Advancing pension communication in Europe •Help pension tracking on a national level •Different functional levels •Compliant with legislation •Voluntary participation •Step-by-step implementation
A must have
QUESTIONS?
HOW IS THE DESIGN PERCEIVED BY POTENTIAL USERS – panel debate
PETRU SORIN DANDEA | EESC (EU) CLAUDIA MENNE | ETUC (EU) DAVID YEANDLE | EESC (EU)
moderated by MICHEL DE JONGE | PGGM (NL)
THE POLITICAL PERSPECTIVE ON EUROPEAN PENSION TRACKING - panel debate
JEROEN LENAERS | MEP (EU) BRIAN HAYES | MEP (EU) JUTTA STEINRUCK | MEP (EU) moderated by CORIEN WORTMANN-KOOL
AMBITION OF THE EUROPEAN COMMISSION ON EUROPEAN PENSION TRACKING STEFAAN HERMANS | Head of Cabinet Commissioner Thyssen (EU)
SEE YOU AFTER THE BREAK!
PROGRAM - PART 2 16.35 French initiative Info Retraite - case study 16.50 Swedish initiative Minpension - case study 17.05 Next steps from TTYPE - presentation 17.20 The possible next steps and role of providers and national tracking services - panel debate 18.00 Presentation of new consortium 18.05 Wrap up and conclusions 18.15 Closing and drinks
INFO RETRAITE - case study PHILIPPE RETAILLEAU | UNION RETRAITE (FR)
MINPENSION - case study ANDERS LUNDSTRÖM | MINPENSION (SE)
A presentation of minpension.seAnders Lundström, CEO
Evolution
Public Private Partnerhip
Board of minpension.se
Agreement state-insurance Sweden
State Insurance industry
A cooperation between the state and pension companies
Development in small steps
2004 2006 2008 2010 2012 2014
Start 3rd ofDecember
Single sign onVersion 2.0
New distributionchannels
New records
2 000 000
”Pension Coverage index”
99%
Eligible group5,4 million
Existing users2,3 million
Market penetration
Existing Target group3,1 million
6Min Pension in figures
• 4,1 million log on’s• 6,2 million projections• 47% female users• 53% men
0 200.000 400.000 600.000 800.000 1.000.000
0 - 20
20 - 30
30 - 40
40 - 50
50 - 60
60 -
Users and age
Multisource access to information
Based on traffic jan 2015
45%
Dire
ct
Phon
e
Dist
ribut
ion
via
Partn
ers i
nclS
SO
Dist
ribut
ion
via
empl
oyer
s
0,01% 55% 0 %
Shar
eof
traffi
cPilot project
Second pillar – occupational pension
DB/DC pension schemes todaysvalue
Fund choices
Sorted by pension company
Graphic projection
Occupationalpension
State pension
Private pension
Swedish pension information –survey
Where do you look for information regarding your pension?
10
0
5
10
15
20
25
Internet Minpension.se Insurance company
Bank Family Insurance broker
Employer Media Other
Primary source Secondary source
Do you have sufficient information to decide on your future pension?
3%8%
10%
40%30%
33%
27%
12%
22%
5%8%2%
Non visitor Visitor
No answer
Missing information
partly missing information
Neutral
Sufficent
All information I need
30
Critical success factors
Information/dataStandardsIndividual data
SimplicityAccessability/distributionBenefits for all stakeholders necessary
Possible proof of conceptA first step for ETS?
Appendix: Screenshots
Log on
First pillar – Public pension
Income pension
Premium pension, fund choice
Second pillar – occupational pension
DB/DC pension schemes todaysvalue
Fund choices
Sorted by pension company
Third pillar – private pension
Extended policy information
Fund choices
Projection
Projection options
Payment options
Graphic projection
Occupationalpension
State pension
Private pension
Projection
Occupationalpension
State pension
Private pension
Scenario projections
Multiple channels
•Iphone app•Android app
NEXT STEPS FROM TTYPE PETER MELCHIOR | PKA (DK)
T TYPE PROJEC T: • Feasible design for an ETS • Recommendations for its
creation and implementation
WHAT IS NEEDED TO REALISE AND IMPLEMENT AN ETS?
1 2 ETS
SERVICE AND ORGANISATION
STEP CHARACTERISTICS • Ownership:
• Governance:
• Financing:
• Financing:
STEP is not owned by another body
Include key stakeholders
Free of charge for EU citizens Financed by pension data providers (including NTSs) and the EC
FOCUS: • Ownership • Organisation structure • Financing (EU funding?) and business case • Prepare STEP • Prepare realization ETS
ACTIVITY
Elaborate design, including: • business plan; • financing; • legal/governance structure; • communication strategy.
THE POSSIBLE NEXT STEPS AND ROLE OF PROVIDERS AND NATIONAL TRACKING SERVICES - panel debate ZBIGNIEW DERDZIUK | ZUS (PL) NICK GANNON | THE PEOPLE’S PENSION (UK) STEVEN JANSSEN | SIGEDIS (BE) PHILIPPE RETAILLEAU | UNION RETRAITE (FR) PETER GRAMKE | SOKA BAU (DE) moderated by MICHEL DE JONGE
TAKING THE BATON
Introduction of the new consortium partners APG – MN – PGGM – PKA – SIGEDIS – SOKA BAU – THE PEOPLE’S PENSION
PLEASE: HAND IN THE EVALUATION FORM RETURN YOUR BADGE COLLECT YOUR PERSONAL COPY
OF THE TTYPE DOCUMENTATION
LET’S RAISE GLASSES TO EUROPEAN PENSIONS COMING TOGETHER