1. What was it that attracted you to become a member of the Advisory Board of VEDRA?
I have been working in human resources for more than 25 years and occupational pensions have always been one of my specialties. This exciting topic has also been on the agenda since 2001 at the latest, when companies were required to offer all five implementation channels. I am convinced that occupational pensions will become even more important in the future and will contribute to the attractiveness of an employer. As a pioneer of modern and secure solutions for employees, VEDRA simply convinced me. I was already familiar with pension buy-outs from the UK. The market there is already much more advanced and gives an idea of the possibilities here in Germany. But in the end, the people were the deciding factor - as an HR manager, I have to admit. There is a great team behind VEDRA. People who believe in the model, who are highly motivated and committed. That makes work fun.
2. Why is occupational pensions so unappealing or difficult for 'HR leaders'?
Pensions are simply not as exciting or rewarding as, say, employer branding. It is complex, there are many risks to consider and it is a long and ongoing process. Even if everyone is aware that employees need to take action today to close the pension gap in their later years, it is not really appealing to deal with problems that will only become acute in 20, 30 or 40 years' time. What's more, needs change, as does the market environment. For HR professionals, this means keeping up to date and being able to advise all stakeholders - employees, employee representatives and management - with all their potentially divergent interests.
3. Pensioner Company: what are the questions from an HR perspective?
The first question that is always asked is about security. Now more than ever, companies need to ensure that they remain competitive. Sooner or later, the question arises as to how a company can reduce its burden. Both financial burdens, such as pension provisions that weigh on the balance sheet, and administrative burdens that tie up capacity. MAVs naturally want to ensure that the processes are transparent and that everyone involved understands the basic principles. And that the models chosen are stable enough to ensure that all commitments can be met while remaining financially attractive.
Given the long-term nature of pension commitments, variable risks such as inflation compensation also need to be taken into account.
4. Who are the target groups/stakeholders? How can their concerns and needs be taken into account?
We actually have the same basic interest with all stakeholders: Security and stability. However, it can be difficult to do justice to the different sub-interests. For the companies, it is first and foremost about the security of being able to survive in the market in the long term. For employees and their representatives, it is about securing future pensions. For all market participants, it is about avoiding insolvency rates in order to maintain Germany's international competitiveness. As a service provider, it goes without saying that you have to communicate authentically, transparently and comprehensively in this environment.
5. What are the future trends in your opinion?
It is inevitable that occupational pension provision will have to take center stage. It is now clear to everyone that the state pension is not going to be enough for the younger generations to be able to maintain their standard of living. Recent years have shown that many private pension schemes will not be able to fill the gap if they underperform. In other European countries, occupational pension schemes have therefore played an important role for a long time. I personally believe that Germany will catch up here. I therefore consider the pension purchase and the VEDRA model to be an attractive, exciting and - in terms of the various interests involved - balanced solution for old contracts. I look forward to the coming period.