Web-based data service gives members the full picture
In 2004 and 2005, PKA members’ services were developed further by the introduction of a number of extra facilities on the website. The strategy for this development has been based on providing the right information at the relevant times, through the channel preferred by the individual member. Almost 20,000 members (about 10% of the total membership) have now ordered their own passwords and make use of the services on the website. This allows the scheme to make clear administrative savings and ensures that the members contact the pension fund on the basis of the improved information. The member and the pension adviser can access roughly the same data and are able to communicate on this basis.
The scheme’s members are now able to follow almost all of the details concerning the overall collective and their own individual pension data. They can also carry out the most obvious impact analyses by means of a number of very simple manoeuvres on the internet, at any time of the day. PKA now offers individual members a full overview of their pension schemes, with all the relevant correspondence, via the website. The scheme has also integrated the joint Danish PensionsInfo site, which presents individual pension data from the majority of Danish pension funds in one table, into its website.
PKA supports e-Boks/e-Post (electronic post box systems), which can be used by members who have signed up for these solutions. About 30,000 standard consignments are now sent out electronically via e-Boks and this number is increasing rapidly. One of the most popular member services in the PKA pension funds is the housing allocation service, where the members have first claim on about 6,500 of the pension funds’ flats. This service has also been implemented on the website so it is now possible to run through the entire procedure electronically and be advised by e-mail when a desired flat becomes vacant. 60% of all applications are now submitted via the Internet and the paper-based print run of the newspaper BoligNyt has more than halved, About 160,000 members a year visit this part of the website.
The website also hosts special shared networks for those who log on with the status of a delegate or board member, In addition to individual data these sections also allow members to access news, press clippings, reports, board material, drafts for the annual general meetings, agendas and appendices. The site also contains a special portal intended primarily for the use of smaller companies that do not use large wage administration systems. Employers can simply retrieve general information about their employees’ pension schemes and sign up new members. When signed up, every transaction regarding payment is automated. About 410 companies make use of this service.
PKA values transparency. On the open part of the website, it is now possible to keep an eye on the financial development of the pension fund, solvency scenarios, return data and detailed shares lists. The annual reports are also available to everyone via the internet and give detailed information about the pension fund, its development and its management. The internet therefore supports the vast amount of information that is issued in the form of reports, members’ magazines, newsletters, articles in members’ trade journals, as well as what is offered at information meetings and courses.
Highlights and achievements
The PKA pension scheme believes that active interaction from members requires high levels of service and information. The Danish funds focus closely on the dialogue with their members because the pension funds are a democratic association whose members have the right to make decisions through the annual general meetings. This members’ democracy can only work optimally if the level of information is high enough for the decisions to be made on the basis of insight and knowledge.
It has also been important for the boards of the eight funds to demonstrate that the obligatory membership does not act as a pillow for their servicing of, or dialogue with, the members. On the contrary, the boards have ordered the administration to work on the premise that mandatory membership entails an obligation to establish a high level of information and service for members who are not able to choose another scheme if they are dissatisfied. Together with an external analysis bureau, PKA carries out regular surveys of its members’ satisfaction with its levels of service and information. The results, which reveal great satisfaction, are published on the website and are used internally to improve the areas with the poorest results.