Retirement Planning

More freedom of choice regarding retirement planning for individuals and an increasing level of responsibility with respect to pension require an appropriate range of products and guidance of the individual in his/her choice. The shift from a Defined Benefit to a Defined Contribution market means that this trend is speeding up. As DC provider it is important that you construct an appropriate (costs and risks) pension product that is in line with the personal situation of the individual. To make a good choice, it is important that it is made clear from the perspective of the complete financial situation. As a result, there is a growing need for resources to provide guidance to individuals in these choices based on a complete financial overview. Ortec Finance’s software, for retirement investment strategies and retirement planning, supports you both in product design and in communicating the financial expectations and risks to you customers.

Product Design

Ortec Finance has many years of international experience in Asset and Liability Management (ALM) for pension funds and insurance companies. Various pension schemes are partly the result of decision support in this area through our GLASS platform. In doing so, we make use of our advanced Economic Scenario Generator to present the expectations regarding returns and risks and construct appropriate product solutions. An example of this is an individual pension product with a dynamic life-cycle or glide path that suits the individual pension ambition, in which the asset allocation, risk attitude and/or deposit can be adjusted over time. With GLASS, various product configurations can be composed and compared for various personas.

Communication

An appropriate product is only successful if participants understand the added value and are adequately guided in the choices they can make regarding their retirement planning. Communicating about only one pension scheme or claim does not help an individual to make a good pension choice. It is important to present all pension entitlements (both the 1st, 2nd and 3rd pillar) and preferably also the claims of a possible partner. This determines whether the total income is enough to be able to continue the desired lifestyle or retire at the desired age. With our OPAL platform, we are able to produce an integral financial overview and the technological  progress in the availability of data allows you to present it to participants in an accessible way. This may comprise offering personal client journeys that provide insight in, for example, a choice within a pension scheme, but early retirement, reduced working hours or additional savings are also possible. That way pension communication is not an obligation but a valued service which also contributes to additional customer loyalty.

OPAL enables goal-based investment decision-making. We leverage our institutional investment risk management expertise by using top-notch calculations as the core of the solution. This enables financial institutions to translate personal goals of their clients into an optimal financial plan and monitor these goals over time.

Consistent Application Economic Scenarios

What's unique about Ortec Finance is that we use the same economic scenarios both in product design and in communication, and thus manage to bring these disciplines together in our 2 platforms in a consistent manner.

More about OPAL         More about GLASS 

 

Benefits

• High quality global economic scenarios
• Global knowledge and expertise in pension advice and design
• High-performance calculation engine for individual pension communication
• MiFID compliant advisory process
• Integrated solutions

 

Different challenges, one solution