Overview

Changing demands of increasingly complex Government pension scenarios is forcing banks who are the pension disbursement authorities to act swiftly and reinvent themselves to meet and exceed the expectations of not only the Pension sanctioning Authorities but also that of the pensioner. The Pension Procession Solution developed by SIPL will transform the way the bank does its Government Pension business by optimization of its processes and operations. This will enable the bank to address the increasing demands of pensioner while complying with regulatory requirements. It will lead to better management of shareholder expectations while improving the bank’s financial health. Some prominent attributes of the same are

• ✓It is a robust system which can handle pensioners having variety of pension rules and schemes.
• ✓Architecture of the system can sustain future growth.
• ✓Audit Trail – All updates to system data fields have an audit trail. Audit trails identify modifications to the data base at levels of data and time when the modification was made, by whom, with the pre and post data modified.
• ✓Maker/Checker Authorization – Any action in the system including updates to system data fields have maker and checker authorization. All requests for checker authorization are queued to respective queue of checker at that branch or CPPC.

The key features of the Pension Procession Solution are :

• ✓Rule engine for Pension calculation and maker checker concept for all transactions and with double checker authorization for critical tasks.
• ✓Integrated front end application for the front end processing with an easy management of rules.
• ✓Pension processing and TDS are seamlessly integrated.
• ✓Status tracking of entire life cycle of PPO and Conversion of Regular to family.
• ✓Providing the System allocation and Reallocation of task.
• ✓Provision to interface with Bank’s SMS utility for sending text messages to the pensioners.

Following modules are covered under the PMS.

• ✓Pensioner profile maintenance
• ✓Pension Processing
• ✓TDS
• ✓Pension disbursement
• ✓Report and MIS
• ✓Workflow management
• ✓Application user configuration

All features mentioned above are not limitations for our customized development. It can be changed according to the company and organization's needs. want to develop customized Pension Management System for your company or organization then SIPL is the right place for you. Contact us now for more details.