An insight into futuriX

With futuriX a global individual corporate solution for regulating company pension plans

More and more companies are striving to reduce their risk by offering their employees "defined contribution" plans. There are a variety of national requirements on how such plans may be arranged. To satisfy these different requirements, it is necessary to have a very flexible software solution that can handle these requirements. With futuriX we solved these problems for a subsidiary company of Chevron in Angola. Global Pension Solutions (GPS) defined together with Chevron International and a prominent international Swiss private bank a tailored pension and loan solution for these employees, which is legally safeguarded by an Chevron trust on the Bermudas.

  • Since 2009 GPS carries out record keeping activities with netting for all employees with the aid of futuriX in Zürich, Switzerland.
  • GPS also managed to implement other requirements on the solution such as monthly investment information or changes in the investment strategies of employees in the online portal efficiently and always in a timely manner.

With futuriX resolving a problem definition for an internationally active corporate and management consulting firm for a plan based on Art. 1e of BVV in Switzerland.

An international consultancy depends on the best consultants and executive personnel worldwide. In order to be able to offer these knowledgeable consultants added value compared to the competition, this firm defined together with GPS a very flexible pension solution for its Swiss partner organization.

  • The partners are able to put together a completely made-to-measure old-age pension plan.
  • All standard formats are used as investment products and even in the provision of less common investment options like hedge funds.
  • This consultancy has been working with this solution for 20 years. The solution is managed together with GPS and continuous updates are implemented in further releases.

President of Board of Trustees
Pension fund of a global corporate
and  management consulting firm.

Interview with President of Board of Trustees

Question: As President of the Board you are working with Global Pension Solutions and their software product futuriX for handling an over obligatory pension solution. As you have seen in all the years the company Global Pension Solutions with their product futuriX?

Answer President of Board of Trustees: We wanted to have a flexible and customized solution for our needs, which allowed us to make a reality of our very complex investment ideas. With Global Pension Solutions we have found a partner who perfectly accompanied us over the years and expanded our solution and adjusted continuously.

Question: In the beginning you have used only the software futuriX. By now you've outsourced the operation and the administration services to Global Pension Solutions, too. How do you rate this very big step in the aftermath?

Antwort President of Board of Trustees: This was the right decision for us. In addition to the efficiency gains we have a partner who solves us active problems such as rule and legislative basis changes. In all that time we still haven’t had difficulties with respect of the system reliability futuriX.  Furthermore we appreciate the flexibility and options which is hidden in whole futuriX solution.

Question: Do you plan to implement additional functionalities and solutions with futuriX and Global Pension Solutions?

Antwort President of Board of Trustees: Currently we are going to verify various requirements together with the team and network of Global Pension Solutions for further solutions.

If interested, a personal contact for reference information can be made about the company Global Pension Solutions.

With futuriX management of insurance solutions for the pension plan market

Many providers of pension products with insurance modules manage their plans using diverse Excel worksheets and small software solutions that are no longer up-to-date. These management solutions are very involved and the pressure that management has to deal with due to costs is constantly increasing. These management products are very time-consuming and the cost pressure for cost-effective management increases continuously. The solution is a professional, highly  automated management product. For Bundes-Vorsorgewerk in Germany, we set up a highly automated management platform on our futuriX Framework for the administrating a re-insured pension fund.

  • The Bundes-Versorgungs-Werk in Germany (BVW) is an association, which offers consultancy services that cover every aspect of pension plan options in Germany.
  • At the same time, the BVW manages its own re-insured pension fund. The complete management is carried out with the aid of futuriX software.
  • Global Pension Solutions defined together with Bundes-Versorgungs-Werk the complete administration process and implemented the respective requirements in diverse releases.
Christian Helbich

Mr. Christian Helbich
President of Bundes-Versorgungs-Werk
der Wirtschaft und der Selbständigen e.V.

www.bundesversorgungswerk.de

Interview with Mr. Christian Helbich

Question: How was your experience with the software producer Global Pension Solutions and its futuriX pension plan framework for developing and implementing its management solution for the re-insured pension plan for its own fund?

Answer by Mr. Helbich: The increased complexity in administration, which must handle a re-insured pension plan, was understood, assimilated and implemented by GPS to our complete satisfaction. The in-depth discussions covering diverse requirements during the project phase were always very efficient and conducted in a goal-oriented manner such that we were able to roll out the new solution for re-insured pension funds while keeping expenses very little.

Question: You have been using futuriX for several years now, how would you rate the existing administration options, the stability and further development of the futuriX solution?

Answer by Mr. Helbich: We have had no problems or outages. Administration with futuriX has become much much simpler and has resulted in a very high process quality in the overall management. Very small adjustments were discussed without much effort and were implemented promptly for our utmost satisfaction.

Question: How do you intend to proceed with regard to the use of the futuriX software solution?

Answer by Mr. Helbich: FuturiX and GPS help us to implement functionally a wide variety of new requirements all the time. Be it migrating new customers with their databases to futuriX or enabling various brokers to access defined data when needed. Based of the flexibility of futuriX we are working on including with futuriX additional funding vehicles in our portfolio.

Question: What distinguishes futuriX and GPS from other vendors?

Answer by Mr. Helbich: What really impressed me is the combination of expertise that GPS' consultants have in the entire pension planning segment while also mastering and further developing our information technology solution futuriX. This combination permits us to implement at minimal expense new solutions that allow our value chain to continuously increase.


Thank you very much for the interview

With futuriX increasing transparency and performance of a collective fund

Collective or multi-employer funds have up to several hundred different affiliated companies, which have their pension plans managed by the collective or multi-employer funds. It is a challenge for collective or multi-employer funds to create, e.g., day-to-day transparency for the affiliated companies.

Global Pension Solutions has implemented together with the financial services provider FinOps the main processes and performance reports per company for the Swiss Gemini collective fund as complete service.

Stefan Lorbe

Mr. Stefan Lorbe
Business Development Manager and Member
of Executive Board of the FinOps Group

www.finops.ch

Interview with Mr. Stefan Lorbe

Question: How was your experience with Global Pension Solutions and its futuriX pension plan framework for developing and implementing the new solution "Individual Asset and Performance Report" for the GEMINI collective fund?

Answer by Mr. Lorbe: Our specific requirements on the solution design were discussed with the very knowledgeable staff of Global Pension Solutions and implemented such that we were able to efficiently fulfill all of GEMINI's requirements without any restrictions with Global Pension Solutions and futuriX.

Question: The solution has been in use for about one and a half year now. How would you assess the stability and further development of the futuriX solution in the GPS' data processing center?

Answer by Mr. Lorbe: Since its roll-out we have had no problems or outages. Very small adjustments were discussed without much effort and were implemented promptly for our utmost satisfaction.

Question: Would you rely on futuriX and Global Pension Solutions again for further applications?

Answer by Mr. Lorbe: At a moment's notice, the good and effective contact we experienced with the staff of Global Pension Solutions and the flexibility of futuriX have convinced me. We at FinOps will carry out other projects with Global Pension Solutions and their futuriX product.

Question: What in your opinion distinguishes GPS from other vendors and what is the decisive advantage?

Answer by Mr. Lorbe: The employees of Global Pension Solutions demonstrate with their professional expertise that quality and flexibility are not mutually exclusive. Developing sophisticated solutions with a reliable partner is fun and gives a good feeling of accomplishment in being able to do the right thing for the customer and your own company.