Second time around achievement in much tougher con
The staff at Germany’s Nestlé Pensionskasse VVag were naturally delighted to discover that they had won another IPE Award, this time for fund administration, following their success in the country category in the inaugural awards of 2001.
“We reckon it was our efficient and ‘one-class system’ approach to the fund’s administration that won the judge’s over,” says Anita Horstmann at Nestlé. In fact, the features singled out by one judge include good reporting facilities, which give “access to the exact value of assets at any time”, as well as the improved transferability of contributions.
Horstmann adds that the award this year is of extra significance given the difficulty restructured and newly-established pension funds in Germany have had getting off the ground in depressed economic conditions.
“It was very important to me personally to have won as times have become quite hard recently and people have become reticent about investing in the equity markets,” she comments.
Overall, winning for two consecutive years has had an immeasurable impact on staff motivation at the fund and its business dealings, Horstmann confirms.
Horstmann says that winning the 2001 award had proved to be more than an effective marketing tool and the fund was looking forward to reaping the rewards a second consecutive award would bring. “We are all very proud and it is sound recognition of all our hard work and effort. Moreover, it is proving to be a very useful tool in marketing and negotiations with clients, new members and our relationships with external business associates, such as asset managers and consultants,” she explains.
Horstamnn also believes that winning awards of this calibre adds a little spice to the industry. “The pensions world can sometimes seem dull. Winning the awards adds a little exoticism and makes it more interesting, especially when courting new members and clients. But ultimately if nothing else, it is a great team motivator and source of pride for all of us working at the fund,” she says.