Festina life

New Unique Partnership Paves the Way for the Future of Pension Savings

Netcompany and Forca, a pension community comprising companies such as Lærernes Pension, PKA, and PBU, have entered a unique collaboration to rethink how pension companies can manage Dane’s pension savings.

The Danes are placing higher demands on their pensions than ever before. Retirement constitutes about one-third of the average Dane's life, making it one of the most critical investments in life. This puts increased pressure on the pension industry to deliver greater transparency, higher member value, and better self-service solutions, ensuring a more engaging and user-friendly service.

For this reason, Forca, whose clients manage pension savings for teachers, childcare workers, and nurses, has partnered closely with Netcompany. The goal is to support a more contemporary, transparent, and modern management of members' pension savings.

This initiative involves a completely new pension platform built on Netcompany's proven and well-known platforms: AMPLIO, EASLEY AI, and mit.dk. Together with Festina Finance's core life insurance system, the Festina Life and Pension Platform, these will contribute to better advisory services, more modern member journeys, faster innovation, and increased economies of scale.

"Through the partnership with Netcompany, we are setting a completely new and much more modern direction for the administration of our members' pensions. We are moving Forca to a modern, market-leading technological platform that will lower our costs, giving us more time to focus on our primary mission – creating value for our members," says Søren Østergaard, CEO of Forca.

The platform will replace over half of Forca's system landscape and is designed to support digital services, processes, and the digital journey for customers and members.

"If pension funds in Denmark and Europe are to shift money from administrative costs to better investments, the entire industry needs to rethink its approach to managing pension savings. That’s the challenge our new pension platform is designed to address. The platform will serve as the technological foundation, handling all underlying administration, allowing Forca to enhance member value through improved, more personalized, and differentiated services," says Thomas Holst Demant, partner at Netcompany.

"We are incredibly excited to launch our new pension platform with Netcompany and Forca. Together, we’ve created a platform with the ambition of innovating, optimizing, and future-proofing pension companies across Europe. The potential is immense, and the industry seems ready to strengthen its digital transformation," says Morten Schantz, founder of Festina Finance.

The agreement, valued at 1 billion DKK, spans 10 years with an option for an additional 12 years.