1 pension infrastructure
TRANSCRIPT
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PENSION INFRASTRUCTURE
Blockchain in a day
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APG, PGGM and funds have the same challenges2
NewPension Contract
Control cost & Investments
Legacy systems
Owner-ship
Flexible careers and personal agency
Longevity Individuals vs.communities
Pension challenges
PUO challenges
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Consolidation is still the trend in the market3
Causes for merger or liquidation PF• Increasing cost of pension administration• Increasing legal requirements• Difficulty finding suitable boardmembers• Financial position• Demographics of the fund• Changes at the employer (e.g. scheme)• Economies of scale
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Via experiments & pilots we reduce uncertainty
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New pension contract
Personal pension proposition
PPF APG showcase
2016
Basiszero ZAP PI
2017 2018
Option 1
Option 2
Option 3
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What is our mission
Pension Infrastructure Moonshot
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Why: we believe that every citizen should be able to obtain good pension services regardless of the type of job they do.
How: with an innovative and creative team we are able to harvest the potential of new blockchain technology and create a disruptive pension eco system.
What: we create and support a low-cost, flexible and reliable Pension Infrastructure so that pension service providers are able to deliver maximum value for the pension funds and their participants.
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What does the future of pensions look like..6
https://vimeo.com/253774398
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Blockchain for pensions7
Blockchain provides the technology to transact value, information, business logic, governance, assets and costs in an efficient and secure way,
without the need for a central party
Blockchain enables collaboration, without losing autonomy
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The future of pensionsLow cost infrastructure, smart personal pensions, tokenized investments
Asset ManagementPension service provider
Customer
Pension ‘smart contract’
Pension Infrastructure
Service providers
AuthoritiesSupervisor
Employers
Low cost pension infastructurePersonal pension contractsTokenized investment
1
Pension fund
2
3
2
1
3
Pension fund
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The future of pensionsBeginning with the fundation, PI builds the Pension Infrastructure
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Multiple uncertainties in blockchain development
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Technologymaturity
Ecosystem
Governance & Legal
Blockchain technology is new and immature. Scalability, interoperability and standardization are major challenges
Current governance and legal frameworks don’t match with characteristics of blockchain technology.
Ecosystem approach to create mutual value is a different paradigm.
Using blockchain technology impacts business models, operations and value streams.
Business model
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Conceptual Architecture Blockchain Network11
Full Node
Light Node
External Application
Client Application
AFM
BRP
DNB
Pensioen Register
UWV
Raet
ADP
Work Admin Client Access
Pension Service Provider Access
APG, PGGMPension Service
Provider
Blockchain Network
Citizen Admin Access SVB
Belastingdienst
Big Employer
Pension Fund (PPF, PZFW)
Participants(current mijnomgeving)
Employers
Employers
Small Work Admin 2
Small Work Admin 1
Small Pension Service Provider
Small Pension Service Provider
Asset Manager
Financial Service Provider (Bank)
Forreign Citizens
Employers
BRP
DNB
PensioenRegister
APGBlockchain Network
UWV
AFM
Citizen Admin Access
Employer
