A Fresh New Logo

This year is the 30th anniversary of the founding of Penad Pension Services Limited, a leading pension administration and systems specialist. To mark this exceptional milestone (not many companies live to see their 30th birthday!), Penad has commissioned the release of a new logo and a new take on its overall brand identity.

For thirty years, Penad has been at the forefront of HR benefits administration automation in the pension field. In fact, Penad was the very first company in Canada, if not the world, to develop a PC-based pension administration software system, which radically streamlined admin and resulted in much faster processing of year-ends and benefit calculations, greatly increased accuracy, and an order of magnitude improvement in turnaround times. Basically, Penad’s flagship Defined Benefit administration solution dragged pension administration kicking and screaming out of the dark ages.

Building on 30 years of success!

Building on 30 years of success!

Penad has continued this history of innovation to the present day, with the development of PX3000™, a global leader in benefits administration systems. PX3000™ is used by banks, insurance companies, governments, and large corporations for the administration of Defined Benefit, Defined Contribution, Group Life & Health, and Social Security benefit plans.

The new Penad logo has been developed to reflect the vision of Penad entering its fourth decade in business. Only a fraction of 1% of businesses ever make it past the thirty year mark, so Penad has a lot to celebrate as it continues on its course towards a bright future. The new logo has been developed to reflect the optimism and vision we hold for the new decade. Penad’s previous logo, which stood the test of time for thirty years (with some slight modifications along the way) was a statement of strength (the large, bold, upper case font) and a business-like attitude (the royal blue color).

The new logo softens both the color and the typography, going with a lighter blue, a mixed-case font, and a bright green cross stroke on the letter “a”. Taken together, the new look reflects a quiet confidence that we know who we are and why we are in business … to provide the best pension and benefit administration solutions on the planet. The logo also reflects the Penad team — we are approachable, communicative, creative – not a monolith but a group of individuals to whom our clients and peers can relate and with whom they can work.

Penad has been building world-class systems for three decades – in our fourth decade and beyond, we want to let the world know that we are still here, that we have great products, and we can help our clients develop solutions for success!


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Federal Consultations for Target Benefit Plans

On April 24 the Canadian Federal government announced that it would be seeking consultations with respect to creating a federal framework for Target Benefit Plans. According to the Government, target benefit plans would be a new, voluntary, sustainable and flexible pension option available to federally regulated private sector and Crown corporation plan sponsors, employees and retirees.

The idea of TBP’s has been gaining traction as “Traditional DB pension plans have difficulty adapting to people living longer and to a fragile global economic environment with relatively low interest rates. And DC plans are exposed to financial market volatility,” according to Minister of State for Finance Kevin Sorenson.

Along with the announcement the Federal government has released a consultation paper with requests for comment and consultations with respect to the various target benefit plan elements such as, administration and governance, funding policy, contributions, benefit structure, funding deficit recovery plan, funding surplus utilization plan, disclosure and communications, conversion of pension plans to Target Benefit Plans, portability and locking-in rules, individual termination, plan termination and windup, and application to multi-employer plans.

To see the full release please visit



Penad Pension Services Limited provides third party pension plan administration services, actuarial and pension consulting services. Penad also provides world class pension plan administration software systems for DB, DC, hybrid plans, social security, and civil servant employee pension plans.


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Technical Group To Advise On Ontario Pension

Ontario Premier, Kathleen Wynne announced that the Ontario government has assembled a new technical advisory group to advise the government on how to strengthen retirement income security, including an Ontario-based alternative to a Canada Pension Plan (CPP) enhancement for people across the province.

This  Advisory Group will be include six pension experts from the public, private and non-profit sectors: Bill Morneau, Keith Ambachtsheer, David Denison, Susan Eng, Melissa Kennedy and Jim Keohane.

For more details please click here


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23rd Caribbean Actuarial Association

Penad is delighted to be a sponsor and attendee at the 23rd Caribbean Actuarial Association (CAA).



Penad is a leading provider of Pension and Benefits Administration Software and Services. Customers count on Penad’s Solution Ready PX3000 Pension and Benefits Software to deliver efficient management of their pension and benefit plans.


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2014 YMPE Announced

The Canada Revenue Agency (CRA) recently announced the 2014 limit for yearly maximum pensionable earnings (YMPE).

  • For 2014 the YMPE has been set at $52,500 up from $51,100 in 2013.
  • RRSP Maximum limits were also increased for 2014 to $24,270 compared to the 2013 limit of $23,820.


For more rates  check out our rates section


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Start me up — Again. Windows 8.1 is here


Less than a year since Microsoft unleashed Windows 8 on the unsuspecting public, they have seen fit to bring us the long anticipated 8.1 version which is now available for download for free in the Windows App Store.

The move to Windows 8 brought with it the new start interface simply named “Windows 8” and formerly known as “Metro”. The purpose of which is too bridge the gap between mobile, tablet, and PC platforms. One interface and one unified experience across all your favourite devices. Despite this grand idea, the result often leaves users familiar with previous windows interfaces lost and confused. The number one complaint I hear is “Where is the start button?”.

Personally, I find the new “Start” interface rather easy to use and does provide an efficient desktop alternative to pointing and clicking through the start menu of yore. Launching MS Word as an example: From the desktop, press the WINDOWS button on my keyboard, type “Word” and press ENTER. Tada!  I’m documenting away far more quickly this way than navigating through the plethora of icons on my desktop or pinned to my task bar or through the old Start interface on the hunt for the MS Word Icon. Try it, you’ll love it.

That being said, Microsoft has heard your complaints and has returned the start button – Well, Sort of. You see, the Icon is there in it’s familiar place and rather stylish looking. Clicking it however simply brings you to Windows 8 tile interface which is still a major departure from Windows 7. In essence it is a virtual version of the Windows button on your keyboard. What is cool however is that opposite clicking it brings up a menu with a host of shortcuts and options such as settings and sign out. These options were likely the ones you used the old start button for in the first place, so this is a good thing.

Another improvement in Windows 8.1 designed to ease the transition from classic windows interfaces is the ability to boot up directly to the desktop, bypassing the Windows 8 tile screen.

There are also a host of other changes that aren’t related to desktop usability as well. For instance there is now support for gesture enabled apps. Using a camera enabled device, the user can change pages by motioning with their hand to the left or two the right in some apps. Automatic updates of App Store Apps and global search functionality are some other noteworthy improvements.

In all, this update should improve the experience of many users as it provides some important ease of use features leading towards a more fluid transition between older versions of Windows and Windows 8.

The update process was fairly strait forward and consisted of a download and install from the app store, followed by a license agreement and some standard configuration options to select. The entire process took just under 2 hours to complete on an HP Pavilion laptop with an i5 chip, 8GB of ram and a 5400RPM 1TB HDD.


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Changes coming to Alberta Public Sector Pension Plans

Doug Horner, president of the Treasury Board and minister of finance for Alberta announced changes to the Alberta Public Sector Pension plan.  According to Mr Horner, there is no crisis today, but rather the longer sustainability of the plan that needs to be addressed.

Reforms will take effect on or after January 2015.  Current pensioners won’t be affected but public sector employees whose retirement dates are after 2015 will be.

Below is a list of some of the proposed changes, to review the full government proposal click hear.

  1. There will be a moratorium on benefit improvements until January 1, 2021.
  2. Cost-of-living adjustments (COLA) on benefi ts earned after 2015 will be “targeted” at 50 per cent of the Alberta inflation rate.
  3. Contributions will be set so that there is a high likelihood that the“target” COLA will be paid, but it will no longer be guaranteed.
  4. All early retirement subsidies will be removed for benefits earned on service after 2015.
  5. MEPP will be closed to new members effective at the end of 2015 but will continue to operate as a closed plan.

The government will be consulting with employee and employer stakeholders until the end of December 2013.


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ACPM National Conference

Penad Pension Services was delighted to be a sponsor at this year’s ACPM National conference held in Ottawa, Ontario. We had great time connecting with professionals from all over Canada and the United States. We look forward to seeing everyone again at next year’s ACPM.










Photo Compliments of Robert E Wilson Photography


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Alberta Extends Filling Deadline for Alberta Pension Plans

In light of recent flooding events in Alberta the Government has provided and extension for all Alberta registered pension plans whose filling deadline was June 29, 2013.

The new filling deadline is July 31, 2013  for the following submissions:

  • Annual Information Return,
  • Annual Member Statements,
  • Actuarial Valuation and Cost Certificate,
  • Audited Financial Statements.

For further information please contact Penad


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Signature 30th Anniversary Edition

Penad is pleased to announce the release of our latest issue of our Signature Magazine.   Signature 23 takes a look back at Penad’s 30 years in business and what the next 30 have in store.  To our staff, friends, family and of course our clients, thank you for making it a great 30 years.

To enjoy the digital copy click here.  To download the PDF copy go here.












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