Defined Contributions

NorthgateArinso's penisons software contains all the standard functionality needed to administer your defined contribution scheme

In order to meet the requirements of defined contribution schemes specific money purchase functionality has been built into the system.

This functionality sits within the standard structure of the system so that both final salary and defined contribution benefits are administered within the same environment and all the functionality and implementation tools are fully available to both benefit bases. All defined contribution processes are controlled by standard work flows, they are configurable to meet specific client requirements and the module enables the following processing;

• Individual member switches

• Lifestyle fund investment option

• Automated lifestyle switches – including Lifestyled funds

• Configurable fund managers, funds and contribution types

• Configurable investment strategies

• Configurable leaver processing

• Configurable statutory projections

• Configurable Age related rebate generation and tracking

• AVC modeller

• Current fund quotes

• Web enabled product that can provide online member access

• EU and UK legislation compliant

• Flexibility in communications (including logos on reports for TPA clients)

• User friendly data storage easily understood by members

• Automatic interface and extract of data