The worldwide savings industry is being transformed. Banks and insurance companies are positioning themselves to provide savings products to the growing middle class in the developing world, where millions of people have real disposable income for the first time. Excellent administrative systems are required to track and manage these growing books of business.

Pension Administration and Pension Software

Defined Contribution

Defined Benefit

Life and Health

Human Resources

Reporting & Data Mining

e-Pensions Module

Software Solutions

Defined Contribution

The Answer for Plan Sponsors

So many people, so little time. Defined contribution savings products for groups and individuals are proliferating and becoming more complex, as the world's aging workforce wakes up to the need to save for retirement. Penad's proprietary PX3000^TM/DC system provides the backbone for plan sponsor's looking to internally administer the pension plans they offer to their employees in the most efficient, accurate, and timely manner possible.

With PX3000^TM/DC, a plan sponsor can track and administer an unlimited number of individual and group pension accounts comprised of a range of savings types, including (but not limited to) unitized, fixed income, guaranteed investment certificates, and money market products.

PX3000^TM/DC enables the administrator to take care of every detail involved in pension administration:

• Set up pension plan
• Enrol new members
• Track deposits
• Statements of account
• Interfund transfers (by unit, percentage, or dollar

amounts)
• Withdrawals
• Terminations
• Retirement
• Vesting schedules
• Death calculations

During initial set-up, PX3000^TM/DC is tailored to the unique regulations, tax reporting/withholding, and other regulatory requirements governing the plan in the jurisdiction in which the plan resides.

Finally, PX3000^TM/DC features full "Book of Business" tools such as a comprehensive Commissions Module for tracking sales agent remuneration, including split commissions and asset bonuses. Another important tool is the G/L interface, for reserve accounting and other purposes. PX3000^TM/DC enables users to offer and administer a full book of DC pension products.