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Pension & Superannuation Management

Cashfac Pension & Superannuation Management is an advanced and innovative specialist contributions solution. It enables same-day investment of pensions contributions.

The solution bridges the gap between payroll and pension administration systems to eliminate the omissions and errors that delay investment. It also supports best practice standards that are applied to processing pension contributions to enable compliance with regulatory and financial control requirements.

Cashfac Pension & Superannuation provides a single platform to manage hundreds or thousands of bank accounts or sub accounts. It can virtualize thousands of transactional client bank accounts, for both new and existing pension products which can be seamlessly linked to a Life & Pension provider’s existing internal systems and bank accounts. The solution enables all existing pensions to have an integrated client bank account allowing full flexibility to the policyholder for cash retention and income withdrawal.

The Pension & Superannuation solution can be used to bring clients, financial advisors and fund managers into the contribution management process. Cashfac also enables either view only or transactional capability to approved external parties.

Cashfac accelerates integration with both bank systems and client side systems with pre-packaged Bank Drivers for many of the leading banks and Cashfac’s FileMapper technology, an easy to use, intuitive ETL tool, which reduces the integration burden with new banks or client side systems.

Processing pension contributions is often a time-consuming, onerous and fragmented task. Each step is open to omission or error, especially where spreadsheets are used. Multiple payrolls and sites need to be consolidated, while large companies struggle under the sheer volume of employees joining, leaving and changing their contributions.

Features & Functionality:

  • Automatically reconciles payments, speeding up investments and positively impacting compliance, transparency and returns.
  • Validates pensions contributions and enables payments to match amounts expected.
  • Supports best practices and enables users to monitor standards as part of service level agreements with pension administrators.
  • Delivers consolidated contribution analysis directly to the administrator and eliminates the use of file transfer methods, email or post.
  • Provides a regime of financial control including verifiable payments, online authorisation, reconciliation and audit trails.
  • Provides immediate access to historical data with a complete audit trail of all activities.
  • Trustees, Fund Managers or IFA’s are able to view all funds of associated customers. Customers can view their contributions including a breakdown of employee and employer contributions and allocations to specific investment funds. They also have the ability to make direct payment of additional voluntary contributions.

Find Out More

For more information on our Pension & Superannuation Management Solution, download a complimentary copy of our Pension & Superannuation Management Solution Brochure or contact the team to discuss your requirements or request a demonstration.