Pension Check-Up is an additional service provided to members of the funds managed by “CREDINS INVEST”, the Management Company of Pension Funds and Collective Investment Undertakings, through their online account. In the same way as health parameters are checked through a Check-UP, this application tries to maintain under control the quality of life of the individuals during their pension phase.
Pension Check-up is based on Asset and Liability Management, where liabilities represent the monthly pension individuals receive during their pension phase. Herein lays our special treatment, since most schemes with defined contributions (and not benefits / defined pension) funds manage only the assets, without focusing on the liabilities.
Asset and Liability management builds upon the assumption that the objective of the pension phase is to maintain the quality of life the individual had during the accumulation phase. In this case, quality of life represents simply the amount of monthly expenses denominated in Lek. The Pension Check-Up is created with the intention of maintaining control over this objective, by enabling periodic checks of the savings situation and the opportunity of achieving the desired amount for retirement. Therefore, the process starts with an objective: To provide the desired monthly amount in Lek during pension phase.
The distinctiveness in this application lays in considering the effect of inflation, which corrodes our quality of life every year, without noticing it. Accounting for inflation becomes more important, because of the long term horizon that characterizes retirement planning.
We attempt to keep this application as simple as possible, without omitting the key data, because optimizing life quality is a challenging financial problem. Our approach towards users is as follows: an economist should do what they know best, whereas surgeons, engineers, architects should do what they know best in their profession.
Achieving a sustainable pension should be the responsibility of professionals in our company. This does not imply you should not know about the investment specifics and risk. These issues must be thoroughly addressed by professionals in the field. Once we have gathered the data for the members, we track investments to achieve the objective for retirement. Pension Check- UP is available for members through the online account log-in.
*To speak with one of our financial advisers click here.
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