Swiss pension software developer companies aXenta, M&S Software Engineering, PK Softech and SwissPension have set up the association BVG-Digital to develop standards for data exchange in the second pillar pension system.
The four companies have decided to set up the association to “institutionalise contacts” and conduct “joint activities”, two missing aspects hindering the cooperation between the 15 software development companies active in Switzerland, the association said in a statement.
The firms will partner with BVG-Exchange, eBVG, SFTI Open Pension working group, and Swissdec to develop and implement standards for data exchange in the second pillar, it said.
BVG-Exchange is a platform developed and run by the occupational pension scheme Stiftung Auffangeinrichtung BVG, or Foundation Institution Suppletive LPP, for data exchange between Pensionskassen.
Over 377, out of a total of around 1,400 pension institutions in Switzerland, use the platform, including Publica, ComPlan, the pension fund for the employees of Swisscom, and the pension fund for the employees of the national postal service, Pensionskasse Post, according to Stiftung Auffangeinrichtung BVG.
The founding members of BVG-Digital have been supporting the process taking place on the BVG-Exchange for a while, in order to process exit notifications, the association said.
Now, as a result of the partnership, processes taking place on the BGV-Exchange will also occur on the encrypted platform EASX of eBVG.
The association eBVG runs the EASX platform for “secure and efficient” data exchange between pension institutions through advanced end-to-end encryption (cryptotechnology), according to the association’s website.
BVG-Digital wants to be actively involved to further development standards in order to, for example, process change of employer, and Pensionkassen, it said.
SFTI Open Pension is a working group of the Swiss Fintech Innovations (SFTI), an independent association of Swiss financial institutes, set up to find solutions to facilitate data exchange across all pillars of the Swiss pension system, initially focusing on occupational pensions.
SFTI recently published a position paper, outlining five strategic options to implement a second pillar pensions dashboard. SFTI has defined a first standard for Application Programming Interfaces (APIs).
The association BVG-Digital is helping to validate, optimise and test this standard in various pilot projects.
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