Pillar Administration has implemented Financial Synergy’s flagship software, Acurity, to automate the benefit payment calculations for another of its superannuation clients.
The Police Superannuation Scheme (PSS) went live with Acurity in April this year. Mark Luciano, general manager of marketing and business at Pillar, said that automation with Acurity would significantly enhance the speed and accuracy of calculating benefit payments, improving the efficiency of the administration process. One of the oldest defined benefit schemes, the PSS has a complex set of rules governing payments. “It [calculating payments] could be a long and complicated process,” Luciano said. The scheme has been closed to new members since 1988. Luciano added that no jobs at Pillar had been cut as a result of the move towards automation. “We are invariably in the middle of, or coming out of, fund transfers, and there are invariably opportunities in other parts of the business,” he said.
22 July 2008 00:00
calculating, luciano, governing, benefit, invariably, scheme, pillar, transfers, acurity, complex, “it, automation
Investments
The $80 billion Mercer Super has delivered a fourth consecutive year of double-digit returns to most members of its SmartPath lifecycle product. Global equities did a lot of heavy lifting, but chief investment officer Graeme Miller tells Investment Magazine that the fund is now looking further afield for returns.
Leave a Comment
You must be logged in to post a comment.