Transition to Monthly Reporting for Fora

Payroll and HR | 12.03.2024

by Katarzyna Kaniecka

Swedish Enterprise and LO (Swedish Trade Union Confederation) have reached an agreement that Fora will transition to monthly management of the SAF-LO Occupational Pension. Initially, companies with employees will be affected. In due course, employees with insurance through Fora will also be affected, but this will take place in 2025. 

The agreement for the transition to monthly reporting came into effect at the beginning of the year, with the first monthly report covering salaries paid in January 2024. To allow for a smooth transition, a grace period is provided, allowing reporting for January and February to be done in March. 

Advantages of the new agreement 
With monthly reporting, the aim is to provide greater investment opportunities for workers whose occupational pensions are administered by Fora. The monthly transfer of their premium pensions, as opposed to the previous annual transfer, creates similar conditions to those for employees whose premiums are already reported monthly. 

Administratively, this change also simplifies things for companies billed by Fora. Instead of estimated costs based on previous year's reporting or preliminary reporting, they will now be invoiced for the actual costs of workers. This transition to monthly reporting provides companies with more accurate accounting. 

Transitioning to monthly reporting 
As mentioned above, extra time is given for reporting January and February in March. For employers with workers covered by the SAF-LO Occupational Pension, here are some helpful tips to facilitate a smooth transition: 

  • Employment Categories 
    Ensure that employees are correctly categorized in your systems. It is recommended to thoroughly review all workers and employees to ensure that they are correctly categorized in your systems, ensuring that all employees are reported to the correct central agency. 
  • New Marking 
    In connection with the transition to monthly reporting, Fora has introduced a new parameter that all employees should be marked with. This marking is the basis for employees being covered by the right insurances and the correct premiums being paid. The marking is mandatory for all workers for salaries paid from 2024-01-01. If the company is covered by a collective agreement, all workers, in most cases, should be marked with the same number. However, it may be relevant to mark different individuals with different numbers if, for example, the company has several different collective agreements. Check with Fora to determine what applies to your company. The marking is done only in connection with the transition to monthly reporting and then in new hirings or personnel changes, such as a change of employment category or a change of collective agreement. 
  • Payroll and HR Systems 
    If you handle salaries internally, contact your system provider to inquire if their solution supports the new marking and monthly reporting. The new marking is a crucial part of employment information that needs to be registered in the system to ensure accurate reporting. Review both system solutions and processes related to the collection of data on new hirings and employment changes. 

Reporting for salaries paid in 2023 is not affected by this change, and annual reporting for 2023 for both workers and employees must have been completed by the usual deadline of 2024-01-31. 

Reporting for salaries paid to employees in 2024 is also unaffected and should be reported in January 2025. 

Workers' salaries paid from January onwards will be reported monthly and are now in effect during the first quarter of 2024. 

It is recommended to monitor Fora's website for updates on reporting. 

Transitioning to Monthly Reporting with Azets 
If you are a customer of Azets and have engaged them for Fora reporting, rest assured that they will guide you through the entire process. If you have questions, contact them for advisory meetings. 

If you are a customer of Azets and have so far handled Fora reporting yourself, it is important to adapt to monthly reporting. Keep in mind that handling will require more time since checks and reporting will now be done 12 times a year, instead of once as before. If you prefer Azets to handle the reporting, feel free to contact them. 

If you handle salaries internally, consider the time and effort required for monthly reporting. Payroll work generally requires time and specialized expertise, and many companies have strategically decided to outsource their payroll work. Fora's transition to monthly reporting could be an additional argument to outsource payroll management and reporting to a partner. 

Azets is closely following developments and staying constantly updated on the latest events. If you, as an employer, have questions or concerns about HR and payroll, feel free to contact them. 

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About Katarzyna Kaniecka

Katarzyna works as a Business Process Improvement Manager at Azets.