Reporting via SaaS
The Nestlé Pension Fund (NPF) is a mutual insurance company and has been in existence for over 60 years. The NPF is a regulated pension fund and the tariffs and insurance conditions are subject to the approval of the supervisory authority. Currently, approximately 25,000 pensioners belong to the NPF. The NPF manages assets of approximately 1 billion euros. The investment of the fund's capital is controlled by various bodies within Nestlé.
1. Initial situation and project assignment
The Nestlé Pension Fund uses zeb's modern and flexible reporting software zeb.control. With zeb.control, the Nestlé Pension Fund meets the new reporting obligations of EIOPA and ECB to institutions for occupational retirement provision (IOPRs). Three institutions submit annual reports to the supervisory authorities.
2. Project content and approach
With zeb.control, the Nestlé Pension Fund uses a Software-as-a-Service solution that is fully operated and updated by zeb. It no longer uses its own IT infrastructure. This is provided by zeb on the basis of AWS resources. In addition to the costs of operating the IT infrastructure, there is also no need for updates to the taxonomy, which is updated annually by EIOPA - this is covered by zeb within the scope of the rental solution. In addition, the Nestlé Pension Fund used zeb's expert advice with its extensive experience in reporting to ensure that the initial filling of the reports would only require a small amount of technical effort.
3. Project results
zeb.control supports the Nestlé Pension Fund in preparing the annual regulatory reports. For this purpose, an interface to zeb.control is available, which is based on the format of the reporting forms. For the three companies, the data is entered into the corresponding reports of the interface and processed in the system. Within a few minutes, the reports for each company are available in zeb.control. The report file is now generated and checked against the validation rules of EIOPA. After the technical release, the report file is sent to the supervisory authority.