Pension Administration Systems

Collborate, Update, Automate.

We work closely with our clients to understand our client's pains and challenges. Since no two system installations are the same, we nurture a collaborative environment between our team and clients, establishing a rhythm of communication that serves the goals of each project well. This means client requests and preferences get heard and system bug tracking tasks and documentation get done. We just don't leave it at that, our experience in circling through this process means we build better software. Our standards have evolved through this approach over the years. As a result, current clients benefit from the accumulative sum of our previous work.

Solution Summary for C-DAT Pension Admin System v3

  • On premise installations or hosted solution
  • Latest in enterprise web technologies: ORACLE Database 11g R2, ORACLE Weblogic 11g R1, compatible with ORACLE Solaris 11 or Oracle Solaris 11 Express, ORACLE Linux 5.5 and higher, and Microsoft Server 2008 and higher. Benefits include highly scalable, flexible and secure environment with powerful business analytics and ad hoc reporting capabilities.
  • Complete and seamless integration with either pension or health benefits administration application and web-based management system (web platform members and employers access)
  • Integration capabilities with 3rd party applications including accounting, payroll, HR.

Pension System Design and Reports

  Employee Benefits Integration All Systems are Employee and Employer driven. A number of employee benefits modules can be "plugged in" to the C-DAT Benefit System depending on the client's requirements.
  Employers' contributions Employers' contributions are tracked to produce contribution reports, delinquent reports, and year-end audit reports.
  Voluntary Contributions Voluntary Contributions Facility to process voluntary contributions and to update yearly interest earned on such contributions.
  Comments Module Comments Module allows for user to track communication with Employers and Members.
  Marriage Breakdown Marriage Breakdown Recording of Spousal entitlement on marriage breakdown as defined by the Family Relations Act (FRA). The system recognizes the options available to the Limited Member and reduces the Member's entitlement accordingly.
  Monthly reconciliations Monthly reconciliation of payments between the custodian and the plan data recorded. Monthly report on pension changes due to Spousal end guarantee period, end of integration, death of annuitant or contingent annuitant, or the beginning of new pension payments.
  Ad Hoc Reports Produce any number of ad hoc reports through running a data request selecting only those fields you wish to analyze.

Member Terminations and Retirements

  Pension Entitlements Pension entitlements are calculated as dictated through the plan rules and the collective or participatory agreements. As such, calculations may be based on hours worked, contribution rate, or employee earnings formulas.
  Commuted Value Calculations Calculation of Commuted Value from Pension Entitlement on the member termination. The system applies the locked-in RRSP rules based on the YMPE. Produces the Certificate Of Authorization (COA) for the Plan Custodian to release the funds for payment to the member, along with all information relating to that payment such as the financial institution, RRSP number etc...
  Member Option Election Scenario #1: The system processes and produces the Certificate of Authorization for the custodian to begin pension payments. Scenario #2: The Plan elects to produce pension cheques. The system records payment information and produces monthly pension cheques. Payments from the System may be by cheque or Electronic Funds Transfer (EFT).
  Retirement Options Determination of all retirement options related to the Plan according to Plan Rules, inclusive of integration with OAS and/or CPP. Production of covering letters, options applicable for the member according to their status, and the Plan rules governing retirement.
  Automatic Termination Automatic termination from the Plan according to Plan Rules, or on request if voluntary terminations are allowed. Information package detailing entitlement sent to terminated employee.

Year-end Processing

  Audit Reports Year-end processing to produce audit reports and valuation data for Plan valuation. Automatic calculation on interest earned on employee contributions and Voluntary contributions, if applicable.
  Pension Adjustments Calculations T4A forms printed yearly if the System issues pension payments.

Calculation of Excess Contribution on Employee Contribution type Pension Plans

Pension Adjustments (PA) are automatically calculated yearly for non-SMEP Plans. Pension Adjustment reports, or flat files, are produced for members in SMEP or non-SMEP Plans

Pension Adjustment Reversals (PARS) calculated for members in non-SMEP Plans on termination. Quarterly PARS are reported to the Federal Government

Contact Us to discuss your unique challenges.