The Swedish pension dashboard minPension (my pension) presents a new retirement planner with significantly improved pension forecasts for all three pillars to all soon to be retirees. The estimates use the actual terms and conditions of individual pension plans and standardised prognosis values.
Thanks to a joint integration project between minPension, Itello and our customers a new interface (communication standard open) has been developed. The new interface enables communication to send requests to initiate pension prognosis calculations at the insurer and communication of information back to minPension.
Today’s pension forecasts assumptions results cause many people feeling that they do not have enough information before the decision to retire. Swedish pension hub minPension has been assigned the task to change the situation by the Swedish Pensions Authority.
Thanks to the joint integration project and integration interface to Inca a new standard is set enabling minPension to present different retirement scenarios graphically and their outcomes for the target group, soon entering retirement, e.g. all from 54 to 67 years. The soon to be retired can with the information make a more well-informed choice regarding their retirement and future pensions.
When it’s time to initiate the disbursement of the pension, the soon to be retired don’t have to manually contact the insurance companies to align their pension plans to the chosen scenario. Application for withdrawal of the pension is made digitally, and then the pensioner can easily follow up on the ongoing payments. All of this provides better support for the decision on when to take out their pension. The solution is entirely transparent and sets a new standard for raising awareness and providing relevant information about retirement.
New calculation functions and integrations supporting this game-changing collaboration initiative is delivered to our customer over several releases starting from Inca 18.4 and onwards with a planned last delivery in Inca 19.2.
minPension is a free-standing website as well as an integrated website with other actors, such as the Swedish Pensions Agency’s logged in pages and the pension companies’ internet offices. More than 30 actors in the pension sector are now associate with minPension. Together they deliver pension information corresponding to 98 per cent of total pension capital. Nine out of ten pension savers can see their entire pension at minPension.
Through the unique collaboration between the State and the pension companies’ minPension are an important actor in society and an impartial voice in pension matters. Through minPension, Sweden is one of the first countries in the world as regards being able to offer their citizens information about their entire pension.