The role of technology in modern pension solutions

The way we do pensions is no longer entirely up to date. A collective pension fund in which people participate who have not worked for a company for a long time. Where young people pay for older people. And where nobody 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! 

We have already seen many technological innovations. But why not in pensions? Because there is so much possible! With the help of technology, employers can be relieved, and employees can gain better insight into their pension accrual. You can read how that works in this blog.

Why technological innovation is necessary

What is unknown is unloved. That's what the well-known saying tells us. And so it is with pensions. We know we need to do something about it. But because pension funds are not very transparent, complex, and actually very rigid, we are not actively involved ourselves (maybe we avoid them a bit?). We trust that the employer will take care of it and knows what they are doing. But even for the employer, pensions are a big and expensive question mark. And also a question mark that costs a lot of administrative work. In many cases, there is no pension, precisely for the reasons mentioned earlier. But that is a loss for your old age, especially when it is not necessary. 

Technological innovations offer solutions to these challenges. 

These days, we're practically married to our phones. 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 built up individually. Which, of course, fits in well with the current zeitgeist. People also want a lot of flexibility. This is also possible with the help of an app (“There’s an app for that”). How? Let us explain. 

Greater appreciation for pensions through technology

A complaint we often hear from employers is that employees don't really appreciate the pension. But this can really be different. They also saw that 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. As a result, the employees stimulated each other to think more carefully about their pension and to really 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 time. They can easily see how much they have accrued, how their money is invested and what returns they can expect. This transparency helps employees appreciate the value of their pension plan 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 the financial future

Technological advances in the pension sector offer numerous benefits that far outweigh 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 employee engagement, just like the aforementioned company Spectral. But the internet company MiWebb had a similar experience. This company noticed that its staff appreciated the transparency and ease with which they could manage their pensions, which led to a proactive attitude towards their financial planning.

By using modern technologies, employers can provide their employees with 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 modernizing pension solutions. Through innovative applications such as digital platforms, employees gain better insight into their pension accrual and can make informed decisions. This leads to increased employee engagement and satisfaction.

Financial education is becoming 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 with their financial planning and pension accrual. 

Technology not only improves efficiency, but also the engagement and satisfaction of employees. And that's what you want. Especially in today's labor market.