Group pension services

CPC v2.1 Code: 71313

About group pension services

cpc code 71313 covers the provision of group pension services, which play a crucial role in the financial planning and retirement security of employees across various industries. This industry is essential in helping organizations manage their pension obligations and ensure their workforce has access to reliable retirement benefits. As a key component of the broader financial services sector, group pension services contribute significantly to the overall economic well-being of both businesses and individuals.

Production process

The main production techniques in the group pension services industry involve the administration and management of pension plans. This includes activities such as enrolling participants, maintaining participant records, calculating and disbursing pension payments, and providing investment options and advice to plan members. Pension providers also engage in actuarial analysis to determine appropriate contribution levels and ensure the long-term sustainability of the pension plans they manage.

Production inputs

The primary inputs required for the group pension services industry include skilled professionals such as actuaries, financial analysts, and pension administrators. Additionally, the industry relies on robust data management systems, investment portfolios, and regulatory compliance frameworks to ensure the efficient and compliant operation of pension plans. Access to a diverse range of financial instruments and investment opportunities is also crucial for pension providers to generate the necessary returns to meet their obligations.

Production outputs

The main output of the group pension services industry is the provision of retirement income and security for employees. The pension plans managed by this industry provide a steady stream of payments to retirees, helping to ensure their financial stability in their golden years. The outputs of this industry are closely linked to 71311 Life insurance and 66301 Pension funding, as these related codes often work in tandem to provide comprehensive retirement solutions for individuals and organizations.

Family tree for group pension services

    graph LR
    A["<a href='/classifications/cpc/v2-1/7'>7: Financial and related services; real estate services; and rental and leasing services</a>"]
A --> B["<a href='/classifications/cpc/v2-1/71'>71: Financial and related services</a>"]
B --> C["<a href='/classifications/cpc/v2-1/713'>713: Insurance and pension services (excluding reinsurance services), except compulsory social security services</a>"]
C --> D["<a href='/classifications/cpc/v2-1/7131'>7131: Life insurance and pension services (excluding reinsurance services)</a>"]
D --> E["<a href='/classifications/cpc/v2-1/71313'>71313: Group pension services</a>"]

    D --> F["<a href='/classifications/cpc/v2-1/71311'>71311: Life insurance services</a>"]
D --> G["<a href='/classifications/cpc/v2-1/71312'>71312: Individual pension services</a>"]

    

    %% Color coordination by level

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    classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
    classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
    classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
    classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px



  %% Apply classes
  class A level1
class B level2
class C level3
class D level4
class E level5
class F level5
class G level5

  class E highlight

  %% class A level1
  %% class B,C level2
  %% class D,E,F,G,H,I level2
  %% class J,K,L,M,N,O,P level3
  %% class E highlight