Best Pension Administration Software in the UK

The PX3000 platform developed by Penad is an all-encompassing software solution for pension administration that effectively manages various benefit types and pension schemes. With its secure and scalable design, PX3000 includes advanced reporting capabilities and allows for self-service access, enabling financial organizations to efficiently monitor and assist both individual and group pension accounts comprised of multiple savings options. Additionally, Penad's PX3000 offers a wide array of features, including a specialized Human Resources Administration (HRMIS) module, management tools for retirement plans, administration services for retirees, and a module for group life and health benefits, among other functionalities. This extensive feature set makes PX3000 an essential tool for institutions looking to enhance their pension management processes.

Although cloud technology has made many aspects of your operations easier, your team might still feel overwhelmed. Our HR solutions enable you to automate tedious tasks, allowing you to concentrate on what truly matters – becoming a more strategic partner in your business and enhancing the overall experience for your employees. With our service centers, chat options, and self-service request portals, dependable HR support is always accessible, featuring language options and customized systems. Whether your staff faces significant issues, has minor inquiries, or requires assistance with your systems, we've got it all covered. Your HR platform is effective in managing personnel, but are your processes fully utilizing the available technology? We don’t just handle routine administrative tasks; we also identify areas for process enhancement and assess what the data reveals about your workforce. By doing so, we aim to boost both utilization and satisfaction through a seamlessly integrated benefits platform, ensuring that your team can fully engage with the tools at their disposal. Ultimately, our goal is to empower your organization to achieve its highest potential.

SpyGlass, our advanced software for managing health claims at the enterprise level, presents a robust and adaptable solution for efficient and accurate claims processing. The platform simplifies the setup of benefits and plans significantly. Fully integrated with SpyGlass, BenefitDriven offers eligibility verification, contribution accounting, and pension management specifically tailored for the Taft-Hartley sector, encompassing a comprehensive suite of data and processes for both Participants and Employers. Our all-encompassing EDI gateway and scheduler, HIPAA Director, functions as a central hub, enabling seamless connections with vendor partners to minimize transaction costs, streamline batch transfers, and automate the transfer process. With SpyGlass, you gain an in-depth, panoramic view of your population while also having the capability to drill down to granular details with ease. You can access an extensive selection of unique reports, fully customizable dashboards, and maintain total control over your system, ensuring that you have everything you need at your fingertips to make informed decisions and optimize your operations. In this way, SpyGlass empowers organizations to enhance their efficiency and effectiveness in managing health claims.

The Pension Administration System consists of a calculation engine, a data management application, a report generation tool, and a development platform aimed at plan sponsors, third-party administrators, and benefits consultants. It is designed to model intricate benefit plans through the use of parameter definitions, pre-defined business objects, and entry points that follow established rules, all tailored to satisfy specific benefit administration needs. Utilizing an N-tier architecture, the system separates the application into various layers, which allows for a modular design approach that accommodates growth and facilitates quick, cost-effective integration with existing client systems. Additionally, the Pension Administration System is specifically tailored to streamline all pension administration tasks without requiring complex coding. Furthermore, the system includes a variety of functionalities that enhance its usability and efficiency for end-users. Below is a comprehensive list of some of the processes available within the system.

Our software provides top-tier automated pension administration services. Procentia stands as an independent entity focused on developing innovative pensions software solutions. Recognized as a global leader in this sector, we collaborate closely with our clients to offer a flexible, dependable, and high-value approach to pension management. The exceptional quality of our software, our dedication to outstanding customer service, and the expertise of our specialized staff in the pensions and financial services sector underpin our esteemed global reputation. The success stories from our clients illustrate the advantages they and their customers have realized through the adoption of Procentia's software. Our teams for implementation and support consist of skilled developers who hail from the pensions and financial services arena. Additionally, we provide an online knowledge base and issue resolution tools that are available around the clock, ensuring that assistance is always within reach. This commitment to accessibility and support reinforces our mission to empower clients in their pension administration endeavors.

The Milliman Actuarial Retirement Calculator (MARC) serves as an all-encompassing system for pension administration, aimed at ensuring precise and efficient oversight of defined benefit plans. Established in 1991 by a skilled team of Milliman actuaries, retirement plan consultants, web developers, and IT experts, MARC provides a solid framework for calculating pension benefits and maintaining essential administrative data. Its adaptable design accommodates a variety of plan types and enables fully customizable calculations, reports, forms, data management, web interfaces, and workflow systems. By fostering participant involvement, MARC features an intuitive website that empowers employees to access personal information, utilize self-service options like adding beneficiaries, manage forms and documents, communicate with plan sponsors, generate pension estimates, and perform comprehensive retirement modeling. Overall, MARC not only streamlines pension management but also enhances the overall retirement planning experience for participants.

Slope Software presents an innovative, cloud-based actuarial modeling platform that aims to simplify intricate financial projections and analyses. This platform allows for code-free, visual model creation with live formula validation, which empowers actuaries to construct transparent and adaptable models with great efficiency. It comes equipped with a comprehensive library of assets and liabilities, making it easy to develop complex financial products. Slope's high-performance mode can enhance projection speeds by as much as ten times, enabling users to rapidly derive essential insights via its dynamic reporting capabilities. Furthermore, the system incorporates advanced assumption management features, which facilitate the aggregation and oversight of data from upstream sources to formulate strong assumptions. With integration options for APIs and Snowflake, Slope automates repetitive tasks and enables users to query actuarial outputs alongside other critical company data, enhancing overall business intelligence. In doing so, Slope Software not only streamlines the actuarial process but also provides significant value in strategic decision-making for organizations.

Pension OS, developed by Union.dev, is an innovative software solution for pension administration that simplifies the management of union pensions across various plans. This platform features a centralized database that tracks exhaustive details for every member, whether they are currently active or have left, which allows administrators to swiftly update contact details, manage dues, and handle beneficiary processes while maintaining a thorough audit trail for all modifications. It accommodates a variety of plan types, including defined contribution, defined benefit, multi-employer pension plans, and Taft-Hartley plans. The robust system incorporates a modern cloud database, customizable workflows, security-focused permissions and approvals, tailored reporting options, payment integrations, instant statements, and a comprehensive audit trail. Additionally, Pension OS enables smooth transitions for its members, facilitating the quick processing of retirements, terminations, or deaths with minimal effort, and ensuring that the administrative burden is significantly reduced. With its user-friendly interface and powerful features, Pension OS stands out as a leading choice for unions looking to modernize their pension management processes.

PensionPro is a comprehensive cloud software solution aimed at enhancing the efficiency of Third Party Administrators (TPAs) by simplifying plan management, client interactions, and overall business operations. It features three different levels: TRACK, TEAM, and BUSINESS, each specifically designed to cater to diverse organizational requirements. TRACK is the foundational tier, offering fundamental tools such as Client Relationship Management (CRM), a Plan Cycle Milestone Dashboard, and basic reporting options. Additionally, it grants access to PlanSponsorLink.com, a secure portal that facilitates seamless information sharing between administrators and their clients. The TEAM tier builds on the capabilities of TRACK by incorporating features like online data collection, time tracking, mass email functionality, fee schedule oversight, and integration with ftwilliam.com for necessary forms and compliance needs. This level is crafted to enhance operational organization and streamline internal processes, ultimately boosting profitability. Furthermore, the BUSINESS tier offers even more advanced tools and analytics to support larger organizations in maximizing their operational effectiveness.

Equiniti Retirement Solutions delivers a wide array of advanced software and platform solutions aimed at revolutionizing pension administration through cutting-edge innovation and digital transformation. Boasting a remarkable legacy of over 187 years in the retail and workplace wealth, life, and pension sectors, EQ focuses on providing future-ready technology that seeks to lower ongoing expenses, enhance efficiency via process automation, and mitigate regulatory risks. Their unique administration platform, Compendia, guarantees a smooth user experience with features including automated benefit calculations, effective document management, and self-service portals for members. For Local Government Pension Schemes (LGPS), EQ's specialized Compendia LGPS caters to the distinct requirements of public sector pension administration, incorporating workflow automation, online member services, and real-time management insights. Furthermore, EQ also presents strong data solutions aimed at alleviating the dangers linked to inadequate pension scheme data, ensuring greater reliability and accuracy in pension management. This comprehensive approach underscores EQ's commitment to enhancing the overall efficiency and effectiveness of pension administration for its clients.

Sagitec offers a range of innovative software solutions, including Neospin™, a comprehensive browser-based pension administration system designed for efficient management of pension benefits. Additionally, Sagitec Neosurance™ provides a fully integrated platform for handling unemployment insurance, disability insurance, and paid family leave, all accessible through a user-friendly web interface. The Sagitec HealthConnect platform facilitates Medicaid member engagement by empowering users to take an active role in their health management, utilizing Microsoft’s Azure cloud, which is HITRUST certified for security. Furthermore, Xelence™ serves as Sagitec's low-code/no-code platform, providing a visual environment that enables both citizen developers and IT professionals to create, test, and launch a variety of applications. This platform simplifies the development process for everything from basic consumer applications to complex enterprise solutions, featuring intuitive drag-and-drop capabilities and integrated enterprise architecture tools that streamline application deployment. With these tools, organizations can enhance their operational efficiency and improve service delivery across various sectors.

PENFAX serves as our comprehensive pension technology solution, consisting of four fundamental products. These offerings leverage scalable technology and can be tailored to meet the specific requirements of your organization. Collectively, our administration system ensures precise calculations regardless of the complexity of your pension rules, while our portal products are adaptable to cater to the distinct preferences of both plan members and employers. The PENFAX Admin System encompasses a suite of modules that streamline pension administration and is relied upon to manage even the most intricate plans. Featuring a robust and flexible rules-driven calculation engine, this scalable system can be adjusted to handle both straightforward and exceedingly complex calculations, accommodating plan memberships ranging from 1,000 to 1,000,000. Our dedicated team of experts collaborates with you to gain a deep understanding of your requirements, ensuring that PENFAX is optimally configured to enhance efficiency for you and your organization. Furthermore, our ongoing support guarantees that your pension administration remains agile and responsive to any changes in your business needs.

V3locity®, developed by Vitech, is a groundbreaking cloud-based platform for administration, engagement, and analytics that provides comprehensive business functionalities throughout the entire life cycle, alongside powerful enterprise features. This innovative platform seamlessly integrates essential administrative tasks with an exceptional digital user experience. Its modular architecture allows for adaptable and swift deployment approaches, catering to various business needs. Built on a sophisticated cloud-native framework, V3locity harnesses the distinctive advantages of AWS, ensuring a solution that excels in security, scalability, and resilience, ultimately transforming how organizations operate and engage with their clients.

Avenu Insights & Analytics presents CPAS (Clearview Pension Administration Solution), an all-encompassing, web-based system crafted to enhance the management of retirement plans for both governmental and private organizations, including union trusts, third-party administrators, and financial institutions. With a legacy spanning over 35 years and deployments on four continents, CPAS effectively accommodates various pension structures such as defined benefits, defined contributions, hybrid plans, and health and welfare administration. The platform boasts a suite of integrated administrative features, optimized business workflows, user-friendly self-service portals, and robust data management tools, empowering administrators to gain a comprehensive view of member information and provide outstanding service. Members enjoy the advantages of secure and personalized self-service portals, which are furnished with tools for retirement modeling, planning, and calculations, thus facilitating proactive preparation for their futures. Additionally, CPAS is designed to be both scalable and adaptable, catering to the diverse needs of organizations, regardless of their size. Its versatility ensures that all users can tailor the system to meet their specific requirements effectively.

Civica's Universal Pensions Management (UPM) is an all-inclusive, cloud-based solution for pension administration aimed at improving member experiences and optimizing operations. By unifying pension administration, document management, and payroll functions within one platform, UPM leverages advanced process automation to lower administrative expenses while enhancing data integrity. This system includes tailored online portals for both members and employers, fostering significant digital transformation and self-service options. Additionally, UPM boasts robust integration with prominent industry solutions focused on bank validation, identity confirmation, and document verification. The platform efficiently manages over 100 schemes, overseeing more than £43 billion in assets and catering to 3.5 million members. Impressively, four out of the five leading local government pension schemes have recorded the lowest 'per-member administration' costs through UPM, demonstrating its effectiveness in the field. Ultimately, UPM stands out as a vital tool for modern pension management.

PensionGold® software stands out as the most cutting-edge and sophisticated solution for pension administration currently on the market. Tailored for modern web technologies, it serves as a browser-based retirement management tool that offers a wide array of features specifically designed for defined benefit pension plans. This comprehensive software is crafted from the expertise and insights gathered over three decades of industry experience. With its configurable, flexible, and scalable design, PensionGold is underpinned by our unique Enterprise Solutions Foundation (ESF) platform. The ESF employs a multi-tiered, service-oriented architecture (SOA) that not only enhances the functionality of PensionGold’s extensive features but also equips users with design-time configuration tools to seamlessly adapt to their evolving business needs. This innovative approach ensures that our clients can efficiently manage and adjust their pension plans to accommodate any changes in their operational landscape.