Penad Introduces Pension Administrators Call Centre (PACC) 

May 15, 2001 -- Kitchener, Ontario, Canada.

Penad is pleased to announce the introduction of its latest client communication technology, the Penad Pension Administrators Call Center (PACC). 

After a lengthy search for the most cost effective and efficient tool for communicating with it’s clients on a global basis, Penad has entered into an exclusive arrangement with Virtual Back Office of New York to offer this new leading edge technology. 

PACC will enable plan sponsors and members to directly link up with their designated Penad Plan Administrator using their internet browser from any location in the world and via a combination or choice of voice, video, and text chat to obtain direct and immediate responses to their pension questions. 

This unique facility allows individuals to directly correspond and actually view the document / file being queried simultaneously with their plan administrator and to make and verify changes immediately. PACC adds a new personal dimension to plan sponsor support in that the individual using PACC has a live visual view of their Penad Administrator  while the dialogue is in process. 

The application of PACC is not limited to the administrator level. The technology will be used to support Penad System Clients in supporting their needs for clarification of procedures, training and ongoing support. Since any application can be viewed simultaneously from both the client and Penad’s location, any systems issues can be resolved visually and immediately, greatly reducing expense and at the same time increasing efficiency.

PACC technology can be effectively used for purpose of remote and simultaneous sponsor meetings and plan member education training sessions in a live environment. There are virtually no limitations as to the number of locations that can be hooked up in a single session. Regular employee sessions can be held in highly cost effective manner. 

The technology supporting PAAC is exclusive to Penad and establishes a new standard for client/member support. This is especially true in the pension outsourcing area. Penad will be exploring other effective uses for this technology that will continue to enhance our value proposition to our clients both domestically and internationally.