Conac offers pension administration services, currently administering pensions for over 400,000 participants.
The breadth of pension administration services from Conac encompass the following:
- Record keeping – the maintenance of individual pension data,
- Benefit processing – the preparation of benefit statements and individual pension calculations, and
- Pension payroll – the determination of gross/net calculations, declaration of social and fiscal obligations, and preparation of all payments.
Customized Software for Pension Administration
- Pension Manager PMi is a software application created by Conac to administer pension data for participants and beneficiaries.
Within this application, pension plans are modeled and participant data are stored in a pension database in order to perform pension calculations, to administer participant data, and to perform pension payments.
PMi is a highly secure, straight-through processing (STP) web application with outstanding STP qualities. On the inbound side, PMi integrates the employer’s HR with the employer’s payroll. On the outbound side, PMi links, integrates, and exports to the bank (SEPA ready) and government (pension payroll), to actuaries and reinsurers (benefit processing), to SIGEDIS, and to the Benefits on-line application.
Almost all pension administration tasks are automated, including letters, benefit statements, calculations, payments, tax and social declarations.