Kitchener, Ontario, Canada – April 9, 2021 – Penad Pension Services Limited is pleased to formally announce the acquisition of SeclonLogic, an Ontario-based provider of Defined Benefit Pension Plan and Group Benefits administration software solutions.
Penad and SeclonLogic have been serving plan sponsors in the Canadian market for well over 25 years and both are respected for innovative technology and exceptional customer service.
The SeclonLogic team will continue to provide their high caliber of pension and benefits software solutions to their respective clients by offering a greater depth of technological and human resource services. Both Penad and SeclonLogic have based their solutions on the industry-leading SQL Server database technology and as such will now share ideas, technologies, methods, and resources in order to provide the best administrative solutions possible.
“This acquisition represents the best example of operational synergies where the sum of the parts is truly greater than the whole,” said Matthew Price, President of the Penad Group of Companies. “This is a great next step in the future of Penad and builds upon it’s position as one of the leading providers of pension and benefits administration solutions in Canada. I am confident that this transaction will leverage the products and services of the combined firm to the benefit of our clients and partners.”
Penad was founded 38 years ago (1983) with a now continuing mission to help pension and benefit plan sponsors streamline administration, reduce costs, and improve plan member communications while also reducing administration turnaround times. Today, the Penad Group of Companies continues to serve pension and benefit plan sponsors across Canada and internationally with BPO services, consulting, and administration software systems. Penad’s client-base includes Fortune 500 companies as well as unions, third-party administrators, multi-employer organizations, associations, banks, insurance companies, and government organizations.
SECLON was founded 25 years ago (1996) by Jean-Guy Sauriol. As early adopter of the Internet, SECLON is one of the pioneers of pension and benefits technology on the web. SECLON was in the cloud when the cloud was still only a meteorological phenomenon. Over the years, the SECLON system has been used by many Canadian companies for retirement planning, DB to DC plan conversion, flexible benefits enrollment and full benefits and pension administration. The SECLON system is used by organizations of medium to large size covering employees from sea to sea.
The Future: Penad Group of Companies
The Penad Group of Companies continues to grow both organically and by acquisition. It continues to invest in people and technology for the benefit of it’s clients as they grow and adapt to technological and legislative changes. Fundamental to growth and change is a never changing constant for Penad: Service to the Client above all else.