The pensions industry across the world needs to effectively manage various Pension funds as per the rules / regulations specific to the country. This requires managing a lot of data and processes spanning different areas of Pensions Management such as Registrations, Memberships, Contributions, Benefits, Payments, Management Reporting, Periodic Reporting, Statutory reporting, Document Management, Assets and Investments, Information exchange across various external entities viz:- Civil Registration Systems, Banks etc., Public Relationships and so forth. Thus the functioning of the industry is extensive and the information flow has to be proper. This needs a System which can address the needs in a cost effective manner and provide ample scope for enhancements and customisations.
RPC Data has developed and implemented a Pensions Management System which addresses most of the requirements of the Pension Industry. The system is very exhaustive in functionality and spans almost the entire Pensions Domain. The System can be customized and deployed to address any country-specific requirements.
RPC Data has developed a product to cater for the functionalities of the varied business processes of Pensions Management. The fund management part of the system caters for managing Defined Benefit, Defined Contributory and Hybrid Funds.The approach in the development of “Pensions Management System (PMS) “product was modular; hence there are various modules in the product, which are as follows
- Registration Module
- Membership Module
- Contributions Module
- Benefits Rules and Benefit Processing
- Pensioners Module
- Payroll and Accounts Module (Payments and Receipts)
- Deferred Pensioners Module
- Reporting Module (Periodic Reporting, Management Reporting, Statutory Reporting)
- Electronic Document Imaging
- Workflow module
- Complaints and Enquiries