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Employees usually build up a pension while in paid employment. Employers then contribute monthly premiums to pension funds, which invest these funds and later pay them out to pensioners. PGGM, a leading pension administrator, manages this process on behalf of multiple funds, including PFZW, PMT, Schilder, and Stipp.
Choosing a future-proof solution
To ensure efficient and future-proof premium collection, PGGM sought a solution that combines maximum automation with control and flexibility. The choice fell on Abillity® by FIQAS, enabling PGGM to optimise its premium collection and accounts receivable management processes.
Fully automated and scalable
PGGM’s premium collection process encompasses a wide range of tasks, including:
- Direct debit collection and credit transfer payments
- Payment processing with both automatic and manual reconciliation
- Reminder processes featuring automated communication and tasks
- Debtor management, including payment arrangements and account blocks
- Specific interfaces for pension transfers
These processes require a secure, controllable, and scalable solution that complies with regulations, aligns with the complex pension sector, and can handle large transaction volumes. Additionally, the solution must be flexible enough to accommodate the specific processes and requirements of each pension fund. Abillity® provides PGGM with precisely this level of certainty and flexibility.
Successful implementation and seamless migration
The implementation process involved configuring workflows for seven different pension funds within the flexible framework of Abillity®. PGGM independently set up the system, with FIQAS providing expertise in credit management. This resulted in an efficient configuration that ensures compliance with both fund-specific requirements and legal obligations.
To integrate seamlessly with PGGM’s IT landscape, Abillity® was connected via API and dedicated interfaces developed by FIQAS. Furthermore, a meticulous migration process ensured that all debtors, including their financial history and agreements, were transferred accurately without disrupting ongoing operations.
Ready for the future
With Abillity® now live, PGGM is prepared for the future: more efficient debtor management, greater control, and a scalable solution that adapts to the evolving pension market.
