Pension & Benefits

Our association with the Pension Fund industry dates more than 12 years. Our Directors have been part of the Pension Fund industry in the US and South Pacific. In the South Pacific, ITGalax has had the opportunity to engage with Pension Funds in multiple countries. Our Solutions for the Pension Funds include:

Core Pension Fund administration

For one of our clients, a defined compulsory fund , ITGalax has been implementing the core Pension Fund administration system. The system manages all functional and operational functionalities within the fund and allows the Management to administer and manage the fund to a profitable direction through the information from the system. The system has an Internal Application and external facing Portal..

Member

Capture basic information of the Member along with Beneficiary, Nominee, Pensioner, Pensioner Nominee and such.

Organization

Capture Organization details including Employer Organization, Bank and Payment information

Member Accounts

Create and manage Member accounts. Create various types of accounts that will be created for a member or an organization

PF Accounts

Create and manage accounts managed by Pension Fund. This includes Interest, Surcharge, Loan, Death Benefit, Medical and such.

Enrolment

Enrol a Member or an Employer into the system. Enrolment can be automated through web portals

Member Contribution

Capture and maintain Member Contribution related details. Member crediting, adjustments, submission are all managed through the module

Contribution Remittance

Cashier module to capture Employer & Member payment & receipt

Surcharge

Calculate Surcharge and manage Surcharge letters through this module.

Transaction Posting

Manage Member account transaction posting through this module.

Withdrawals

Withdrawal module manages all withdrawals taking place from the system, Full or Partial or define other withdrawal type

Automated Batch Processing

Annual or interim batch processing functionality for Interest posting, Death Benefits, Statement processing, Surcharge calculation.

Reporting and Dashboard

Module to manage Dashboard & Reports for Finance, management and the members

Employer Portal

The Employer portal is an external application that will be accessed by all the employers. This will be having the following functionality as listed below

Enrolment of new employer
Contribution scheduling
Contribution submission

Contribution Payment
View schedules, posting, pending contribution, surcharge
Add new Employee and modify existing Employee

Digital Services & Solutions

One of our reputed clients is a compulsory fund and has implemented systems to manage its Pension administration and operations. With going Digital as one of its key strategies, the Fund defined a Digital Roadmap for its services. ITGalax has been working with the fund to transform and extend the existing applications into a Digital Platform and provide a hassle free and pleasant experience to all the members.