Simple exchange of data – digitally, quickly, securely and free of charge
The Substitute Occupational Benefit Institution is the largest hub for vested benefits. We therefore have a vital interest in a simple, digital solution for transferring data between occupational benefits institutions. With BVG Exchange, vested benefits can be exchanged with us and with all other affiliated pension funds – a major increase in efficiency!
Employees change jobs, leave occupational benefits institutions and join new funds. This is reflected in processes that recur thousands of times and that involve a great deal of administrative work for occupational benefits institutions and vested benefits institutions.
It takes around six minutes to manually enter departure data in paper form – with BVG Exchange, the same transfer takes 20 seconds to complete. Calculation example: for 200'000 submissions via BVG Exchange, digital processing means an enormous increase in efficiency, with around 138 working days instead of 2'500.
Over 90% of electronic applications can be processed fully automatically and do not require any additional clarifications or manual adjustments.
Comprehensive departure data
A person’s departure data can be extensive. Depending on their career history, they not only contain master data such as OASI number, date of birth, language and residential address, but also information such as pledges, early withdrawals, purchases or exclusions on medical grounds.
All the more reason why as many pension providers as possible should be able to process and transfer their data electronically.
Future: transfer entire affiliations
To simplify the processes even further, we will in future be offering the option of transferring entire company affiliations between occupational benefits institutions.
Today, when a company changes pension funds, this involves a great deal of administrative work: creation of offer based on anonymised database, conclusion of contract, transfer of the portfolio including employee master data, transfers of remaining credit balances (current account, contribution reserves, partial liquidations, etc.).
All of these steps have sources of error that can be minimised with digitisation.
We are currently reviewing the structure of this service together with the stakeholders.
For specifications and connecting to the service, see How does BVG Exchange Transfer work? and Technical questions about BVG Exchange Transfer.
For legal issues, see Legal issues and the general Terms and Conditions of Use of BVG Exchange.
BVG Exchange transfer benefits
- Digital transfer of vested benefits of an insured person when switching from one occupational benefits institution to the next.
- Creation of an electronic termination statement (PDF), which is available to the sending and receiving institutions.
- Transmission of WAK messages (reinstatement control).
In preparation
- Transfer of entire company affiliations from pension fund to pension fund.