We are delighted to launch the next phase of our digital roadmap for corporate pensions - fixed direct debit contribution updates for Group Pension and Group PRSA schemes.
When we launched our DC Portal, we described it as the first phase of our digital roadmap for corporate pensions. Last year we enhanced the Portal with the delivery of our Online Pre-Renewal and member update journey.
We are now delighted to launch the next phase - Fixed direct debit contributionupdates for Group Pension and Group PRSA schemes.
The new online functionality went live on the 11th of April; just in time for the May collections with the first notification emails issued Wednesday the 13th of April.
Fixed Direct Debit Contribution Update – improving speed and accuracy
The new online fixed direct debit contribution update functionality will allow Group Scheme Employers and Financial Advisors to easily upload contribution changes for Group Pension and Group PRSA schemes, in advance of the next direct debit collection date, directly to Zurich via our DC Portal.
We have phased the onboarding of this service for May to ensure a smooth transition. The first phase will include all Group Pension schemes as well as Group PRSA schemes with 5 or more active members. The remaining Group PRSA schemes will be onboarded over the coming month.
This new automated process has been built on the feedback from Trustees, Employers and Advisors and will be accessible through our redesigned DC Portal – which can be accessed via www.zurichcorporate.ie
Accurate and timely updating of member contribution information is essential for administering group schemes. The new online functionality will not only make it much simpler for employers and financial advisors to upload contribution changesbut will also ensure that the member contribution information we hold is accurate and up to date. The new process will also include a monthly email reminder in advance of each collection date outlining the required steps. Where no changes are required there will be no action to take.
This new online enhancement will offer the following features:
Update employee, employer and AVC contributions at an individual member level in advance of the upcoming collection date
Update an entire scheme using a bulk upload function
Update member leaver details
Information on salary deduction and direct debit collection months for your scheme
Access to historical direct debit collections
We've put together a handy guide to help bring you up to speed on fixed direct debit contribution updates.
Look out for
We hope you have seen or heard our new advertising campaign - the first to feature the Zurich Master Trust and Corporate Pensions. Our call to action to talk to a Financial Broker is running across multiple channels: press, radio, digital audio, display and social media.