Pensioner Management

Manage and maintain a pensioner payroll for all members that retire from the Fund(s) under administration. The pensioner payroll manages aspects such a Life Certificates, pro-rata pension payments, deductions, increase rules and payslips. Run a monthly Pension Wizard to do a dummy run for approval before the final payroll run is done after authorisation. Extensive reporting throughout the process, as well as web access for pensioners that require this functionality.

Create unlimited member accounts and track all their activities from there. This allows you to control all aspects of a member’s portfolio from a central location, inspect their status, and much more. Manage different accounts such as:

1. Determine Full Pension Allocation Amounts based on type of pension, multiple pension types or pension sources can be easily accommodated;
2. Add member/ spouse/ children to pensioner’s payroll depending on the pension in payment;
3. Payment Details for the pensions and to third parties for deductions including bank account details;
4. Determine eligibility of pensions based on the Rules of the Fund;
5. Determine Net Pension Payable after payments and deductions;
6. Pay Pensions via a Pensioner Wizard;
7. Duration of Pension – i.e. Guarantee periods;
8. Allocate Spouses Pension at member pensioner’s death after retirement if applicable in terms of the Rules;
9. Allocate Children’s Pension at spouse’s death after retirement if applicable in terms of the Rules;
10. Allocate Death Benefit after retirement and no further pensions payable;
11. Review Pensions on an annual, or ad hoc basis;
12. General Requirements for a pensioner record;
13. Manage Life Certificates and the suspension of pensions based on rules applicable;
14. Extensive reporting functionality;
15. Trustee & Legal Rulings;
16. Tax Certificate Module.