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