Inca 13.3 has been brought into operation for our customers in recent weeks. Release 13.3 is the second of the two large releases during 2013. The release has mainly focused on adding functionality in three areas:
·Shared forms of management
·Collective agreement occupational pension SAF-LO
·Tax management for occupational and endowment pensions
With a shared form of management it is now possible for the customer to optionally allocate their savings among insurances with different forms of management. Tobias Yamabe-Törnell who is a production specialist at Itello explains the benefits of this functionality:
“A shared form of management facilitates and improves the ability to allocate a customer’s savings among different forms of management. The functionality allows for optional allocation of savings premiums among the different forms of management as well as being able to link to and manage all the element of risks that exist in occupational pension policies.
It is now easier for individual customers to see the overall picture of their savings and efficiently switch between the different forms of management. The allocation of savings for future premiums in a shared form of management solution can be changed without the need for manual calculation.”
Since previous releases Inca has support for insurance administration regarding the SAF-LO agreement area. One of the major new features in release 13.3 is that the management of inward transfers has improved for this agreement area.
A further feature of this release is that the tax model in Inca can now manage tax and tax information in a more flexible way. An example of this is differentiated management of tax between private occupational pensions and public sector occupational pensions. To be able to differentiate these is of great importance primarily in transfers abroad to countries where there are special tax treaties between the country and Sweden, and where different tax rules apply whether you are an employee in the public sector or not. Peter Blumenthal who is product owner at Itello explains more:
”As part of our ongoing work to improve Inca we have in this release chosen to focus on the management of tax in the system. We have among other things introduced support in order to be able to differentiate private occupational pensions and public sector occupational pensions, increased the support for individually-adapted tax calculations (e.g. SINK and adjustments) and made the user interface more easily accessible for the user in order to provide a greater understanding of how the tax has been calculated and what statements of income and deductions have been created.”