‘Pension service provider’ is a financial organization such as insurance companies, securities firms, banks, etc. that provides a retirement pension plan service.’
The pension service provider is a group of experts in pension plan, education, consulting and investment offering services at all stages from adoption to management.
The pension service provider is the one who provides comprehensive services when it comes to retirement pension and pays the retirement benefit to participants. The pension service provider is a partner for retirement planning from A to Z.
To adopt the optimum retirement pension plan where the employees and the company can both mutually benefit, the first step is to meet the pension partner who fully understands the needs and situation of the company.
Once the retirement pension plan is adopted it is operated long term until retirement and even after retirement – this is important for employees’ life after retirement and their welfare. Therefore, from adoption it is important to work with a professional pension service provider.
The pension service provider’s duty is to provide excellent products that are suitable for the company and employees as well as to provide on going service after pension adoption such as pension plan management reports, investment education to the company and its employees.
Retirement benefit is a special money for your old age, thus it is important to know if the pension service provider has the right philosophy in terms of retirement benefit management, and whether it has the human and property infrastructure to perform excellent service as well as investment products selection.