Does your organisation face these challenges?
Increasing number of overseas retirees
With more and more people emigrating overseas to retire, Pension Funds and Administrators face the challenge of managing international payments efficiently and cost effectively.
Our online platforms can help streamline international payments to reduce administrative burdens and enable your members to receive payments in their chosen currency.
Payment delays
Your business reputation can be impacted when members don’t receive their pensions payments on time.
Help maintain a positive member experience by leveraging a global banking network to streamline your payment processes. Funds will pass through less intermediaries, helping to efficiently reach your beneficiaries in their local currency.
Paying the right member, the right amount
Help minimise your exposure to fraud through mitigating the risk of overpaying non-entitled beneficiaries and increasing identity compliance.
With our unique Global Existence Solution we can verify your international members’ identities in person, at over 300,000 WU® Agent locations across the globe. Since we launched our service in 2014, we’ve helped pension schemes minimise fraudulent transactions, with over 9% of identities verified as non-entitled beneficiaries.
Managing regulations across countries
Sending payments to members in multiple overseas locations requires meeting local regulations in each country. This can be a time consuming and complicated task for your organisation.
Our International Pensions experts can help you design an individual solution for your or-ganisation, which keeps you up-to-date with ever-changing payment requirements, in-country holidays and local processing times.
FEATURES AND BENEFITS
International pensions expertise
Work in partnership with our International Pensions experts to design a bespoke cross-border payments solution for your organisation.
Compliance experts around the globe
With investment of 3.6% of Western Union's revenue on compliance measures in 2017, we are committed to keeping your firm's and your clients' money safe. Our expert teams will provide guidance on streamlining pensions payments delivery to in-sanctioned countries and compliance with local regulations.
Global reach, local presence
Pay your members living overseas in over 130 currencies in 200 countries and territories, using your local currency, without the need for international bank accounts.
Minimise member payments enquiries
Give your members peace of mind and keep them informed with automated notifications when their pension payments are released.
Seamless systems integration
Front and/or back end integration with Law Practice Management Software (PMS).