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  • Home / pensionadministrationsystem / Base Pension Administration System Software

    Base Pension Administration System Software

    A cloud based, online pensions administration system that is built in conformity with the Retirements Benefits Authority (RBA) and Income Tax Authority (KRA) Regulations and NSSF Act 2013 to automate all pensions administration tasks. It is a robust and secure software system developed by seasoned software experts in collaboration with pensions administration experts after several years of research and in collaboration with leading pension administrators in Kenya.

    a web application called “Pension Management System” helping the client to convert its challenges into outstanding business benefits covering the following features:

    • Employer Registration: New Registration, Employee Beneficiaries, Updated Employee details, Investment Fund details, View/Print Certificate or Registration Form, View/Print Benefit Estimate, Employee Risk Profile etc.
    • Employer Update Monthly Contribution: Employer logs onto web portal and Uploads Monthly Contribution Details on all Employees. After validation, Employer can enter details of payments made to the Custodian Bank
    • Member Account Details: Updates and maintains Member Account Details as per the Contributions received from Employer. System continuously updates each Member’s Statement as Custodians update the Investment Fund at the end of every month
    • Move members into another Scheme or Trustee: Move a Member into a Preserved Account – Employee Terminates with Employer or Dies and is moved into a Preserved Account. Create a Charge/Pledge/Lien/Judgment Debt – An Employee can apply online by logging on to the Employer Portal to create a Charge/Pledge/Lien/Judgment Debt against Accrued Benefits.
    • Custodian Banks Updates: Custodians: Update Employers Payment details and Members Payment Accounts, Transfer Money to Fund Managers, Updates Investment Fund Details. System: Calculates Net Asset Value of Total Fund, Updates Members Fund Balances, Begins to Accrue Penalty on Outstanding Amount
    • Generate Ledger Financial Statement:Generates Accounting Transactions which are exported to client’s Sage General Ledger system
    • Benefits:Verification of Member, Retirement Age Alert, Manage Employer, Employee, Fund Manager, Master Custodian, and Public Enquiries and Complaints (CRM Module)
    • Reports:Generate various reports- Employer Annual Statement, Member Annual Statement, Members Due to Retire By Certain Date, Amount Due to Pay Benefits, Custodian Statements, Benefits paid by Period.
    • Admin setup process:Manage (View/Edit)- Business Activity, Employee Type, OPS Type, PFS Type, GPPFS Type, Nationality, Investment Fund Type, Asset Class Type, Custodian Banks, Fund Manager, Contribution Payment Type, Accounting Codes etc.

     

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    Description

    DPAS helps public sector retirement systems

    • Reduce the time and expenses associated with defined benefit plan administration
    • Deliver improved customer service through efficient business processing and extensive interactive self-service capabilities
    • Scale faster to meet the rapidly growing number of public sector retirees
    • Access data and documents faster, more efficiently, and more securely
    • Improve data integrity
    • Automate business processes and quality control functions

    Flexibility

    DPAS is designed and built to provide you maximum flexibility to rapidly adapt to changing business rules that result from legislative and policy changes. DPAS provides the ability to configure and modify business rules through an enterprise class, commercially available business rules engine, InRule. With a centralized rule repository, InRule provides a single source of truth and allows non-technical users to easily administer rule changes using a rich English vocabulary instead of complex programming.

    ​Customer relationship management

    DPAS provides powerful Customer relationship management (CRM) capabilities with the ability to search and access anything from anywhere within the solution. Complete and detailed information is organized and presented logically as a 360 degree view of your customer. This 360 degree view also provides a comprehensive journal of all interaction with the customer as well as quick links to every piece of correspondence sent or received.

    Intelligent decision making

    To support retirement system executive decision making, DPAS includes a sophisticated data warehouse, management dashboards, and reporting solution built upon IBM Cognos Business Intelligence. Point in time data snapshots are aggregated and stored in the DPAS data warehouse which provides a powerful ability for both historical trend analysis as well as predictive forecasting. Information is neatly summarized and presented on management dashboards with the flexibility to drill down and filter data as desired.

    Advanced technology

    Underneath DPAS is an advanced, object-oriented technology platform running on the latest versions of Microsoft .NET, SQL Server or Oracle relational database, IBM Cognos BI, and IBM FileNet workflow and content management. The solution is entirely service oriented and provides the ability to expose DPAS business services to any consumer. The DPAS service oriented architecture also runs virtually and provides you with the ability to scale up and out as needed.

    Self service

    DPAS provides a complete and secure self-service site that enables you to transition processing to your customers allowing them to better serve themselves. Some of the online services included are:

    • Retiree services, allowing retirees to update contact information, direct deposit details, estimate and change tax withholdings, review payment stubs and history, view tax documents, and request income verification statements.
    • Member services, allowing members to view account details, estimate benefits, initiate refunds, purchase service, apply for benefits, register for counselling sessions, update contact information, and view annual statements.
    • Employer services, supporting employers as they enroll members, report contributions, correct reporting, pay invoices, update direct deposit details, update contact information, register for counselling sessions, and change member statuses.
    • Business partner services, allowing information to be shared with other organizations, such as other public sector agencies, medical examiners, the actuary, health insurance providers, and investment managers.

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