Transition to monthly reporting for fora

Svenskt Näringsliv (Confederation of Swedish Enterprise) and LO (Swedish Trade Union Confederation) have reached an agreement for Fora to transition to monthly reporting of the SAF-LO collective pension insurance. The transition to monthly reporting will be gradual, initially affecting companies with manual workers. In due course, non-manual workers with insurance policies with Fora will also be affected, but this will take place in 2025.

The agreement on transitioning to monthly reporting came into effect at the beginning of the year, and the first monthly report covers salaries paid in January 2024. To allow time for adjustment, a transitional period is provided where reporting for January and February can be done in March.

Benefits of the New Agreement

With monthly reporting, the aim is to provide greater investment opportunities for workers whose occupational pensions are administered by Fora. When their premium pensions are now transferred monthly instead of annually, as was the case previously, it creates similar conditions for them as for non-manual workers whose pensions are already reported monthly.

From an administrative standpoint, this change also simplifies matters for companies invoiced by Fora. Instead of estimated costs based on the previous year's reporting or preliminary reporting, they will now be invoiced for actual costs. This way, companies will receive more accurate accounting.

Transitioning to monthly reporting

As mentioned above, extra time is provided so that reporting for January and February can be done in March. For employers who have employees with SAF-LO collective pensions, we have listed some smart tips to facilitate a smooth transition.

• Employee Categories
  It is always important to ensure that employees are marked with the correct employment category in your systems. We recommend that you take this opportunity to thoroughly review that all employees are correctly categorized in your systems. This will ensure that all employees are reported to the correct pension center (valcentral).
  
  
• New Marking
  In connection with the transition to monthly reporting, Fora is introducing a new parameter that all employees must be marked with. This marking forms the basis for employees being covered by the right insurance policies and for the correct premiums to be paid. The marking is mandatory for all workers for salaries paid from 2024-01-01. If the company is covered by a collective agreement, in most cases, all workers will be marked with the same number. However, it may be necessary to mark different individuals with different numbers if, for example, the company has multiple collective agreements. Check with Fora for the specific requirements for your company. Marking will only be done in connection with the transition to monthly reporting and then in connection with new hires or personnel changes, such as changes in job category or collective agreement.
  
  
• Payroll and HR Systems
  If you manage payroll internally, contact your system provider and discuss whether their solution supports the new marking and monthly reporting. The new marking is an important part of employment information that needs to be recorded in the system to ensure accurate reporting. Review both system solutions and processes related to the collection of data on new hires and employment changes.

Note that reporting regarding salaries paid in 2023 will not be affected by this change. Annual reporting for 2023 for both manual and non-manual workers should have been conducted as usual by 2024-01-31. Reporting of salaries to non-manual workers paid out in 2024 will not be affected either - these should be reported in January 2025. Manual workers' salaries paid in January and beyond will be reported monthly and will commence during the first quarter of 2024.

In addition to these tips, we recommend monitoring Fora's website to stay updated with new information.

Switching to Monthly Reporting

If you are a customer of Azets and use our services for Fora reporting, rest assured that we will guide you through the entire process. If you have questions, contact us for advisory.

If you are a customer of Azets and handle Fora reporting on your own, it is important to prepare and adapt to the monthly reporting. Keep in mind that the 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, you are warmly welcome to contact us.

Do you manage payroll internally? Then, it is also essential to consider the time and effort required for monthly reporting. Payroll, in general, demands time and specialized expertise, which is why many companies have made the strategic decision to outsource their payroll. Fora's transition to monthly reporting could be an additional argument for strategically outsourcing payroll management and reporting to a partner.

Here at Azets, we follow developments and keep ourselves abreast of the latest news. As an employer, if you have any questions or concerns about HR and payroll,  please feel free to contact us.