Pension Administration Software
Anthony Mathenge 24th August 2015

Would you like to increase the coverage and reduce the costs of your company’s pension fund services? Explore Systech Limited’s Pension Administration and Investments Management solutions that are tailor-made to help you streamline your investment processes and make them cost-effective.

 

Benefit from a pension administration system which allows you to achieve a high level of straight-through-processing in all key areas of your organization. Deal with complex requirements, while minimizing the impact on your system and personnel budgets.

 

FundMaster is the most advanced Pension Administration and Investments Management System in the sub-Saharan region. It caters for the core functions of Retirement Benefits and Pension Scheme Administration for both private and public employee retirement organizations.

The foundation of FundMaster is its core Pension Management Services, which include six integrated modules that perform business processes associated with operating a pension scheme. The services are customized subsystems tailored to specific business and technical requirements of each client. FundMaster is made up of the following modules:

  1. Benefits Administration

The Scheme Setup and Administration module is at the heart of FundMaster Xi pension administration and has the below components:

  • Scheme Setup – this provides the tools for setting up new scheme according to trust deed and rules and further for the configuration of member benefits
  • Member Register contains the entire member listing together with their contributions
  • Pensioner Register includes all scheme pensioners. Pension payment management is done here.
  1. Financial Accounting

The accounting module features a fully-fledged accounting package that has functionalities to handle benefits and claims processing, statutory compliance, pension payroll processing and financial accounting. It features the following sub-modules

  • Accounts Receivable
  • Accounts Payable
  • Cash Management
  • General Ledger
  • Fixed Assets
  • Budgeting
  • Statutory Statements
  1. Investments & Assets Management

Manages the investments and reports on the investments as per the various investments classes, including Real Estate, Equity, Government Paper, Commercial Paper and Corporate bonds, Offshore Investments, Long Term Loans, Fixed Term Deposits, Endowments, etc.

  • Keeps the scheme Investments Register
  • Performs Investments Performance Monitoring
  • Tracks any movement in the investments portfolio
  • Performs tactical/strategic portfolio allocation
  • Performs unitization of investments
  • Manages the investments and reports on the investments as per the various investments classes
  1. Member Self Service

Some of the Benefits of Member Self Service (MSS) My Pension Online Portal to an already registered member is they will be able to:

  • View (Personal) and Update Contact information
  • View their (and totals) Contributions History
  • Perform a ‘What-if-Analysis’ to calculate take home in case of an unprecedented eventuality
  • Make Additional Voluntary Contributions via Mobile and Online Payment
  1. Workflow Management

FUNDMASTER Xi Workflow management system aims at distributing work by automating core processes in Xi e.g. movement, payroll processing etc.

This is achieved by routing tasks and documents to the users responsible for working on them, through sequential progression of work activities. The workflow system has been designed based on the Decision-chain process model that uses the milestones and decision points to map out the processes.

  1. Reporting & Business Intelligence

FundMaster Xi is supplied with standard reporting facilities to cover requirements that are common to most users including:

  • Scheme level reports for pension review and valuation extract
  • Member reports on individuals or a range of members
  • Retirement reports, including members approaching retirement or state pension date
  • Audit trail reports
  • File and letter reports

 

FundMaster is a combination of integrated business process design, custom software, package-based integration and pre-developed software components all aimed at meeting the growing service demands of compliance and service delivery.

FundMaster Xi Pension Administration System provides a flexible, extensible architecture and tools designed to accommodate the one-size-does-not-fit-all landscape of today’s retirement programs. Supporting the regional pension funds and administrators for over ten years, FundMaster Xi is a proven solution that has gone through a process of complete re-engineering based on customer feedback to keep current with the industry needs.

“FundMaster takes care of the core requirements in our benefits scheme. Thank you Systech” –britam copy

Read more about FundMaster Xi :  http://bit.ly/1PLId8h