Support for launch of new wide-ranging pension pac
The judges said that the establishment of the TotalFinaElf fund must have been an achievement in itself and praised its use of “good tools and periodicity in the communication process”.
The staff at TotalFinaElf’s new retirement savings and pension fund department were naturally delighted to learn they had won the IPE Award for fund administration, given the fact that their new pensions package is wide-ranging and new to the market. “It is with pride that we accept this award,” says Pascal Vrillon, director of pensions and benefits at the Paris based company. “This is the perfect recognition of the hard work and efficiency shown by everyone involved in creating this new balanced pension programme for the 18,500 employees working within the group’s petroleum sector. Establishing the new programme meant bringing together employees, management and our social partners who all had a more than valid contribution to make.”
Vrillon says the continued dedication of the pensions team is crucial to the new project’s success. “I am in no doubt that the team will continue to show due diligence in their work. What we have achieved is an array of retirement provision vehicles in which our employees can build up their long-term savings at their own pace but with the full support of the company.”
Vrillon believes the fact that individual choice remains at the heart of the new programme was crucial in the judge’s final decision. “Individual choices are at the root of the whole process – from deciding how quick and how much to save to deciding how to have the money paid out during retirement,” he comments.
Aside from acting as an ideal marketing tool when dealing with clients and associates externally, Vrillon confirms the IPE Award will be instrumental in ensuring Total Fina Elf continues to employ top-grade staff internally at its restructured pensions department. “The award will play a big part in ensuring we attract, retain and motivate highly-trained and skilled staff. That is crucial to the project’s continued success,” he says.