Pension surplus payouts
WOW! factor with members
Large defined benefit pension plan with surplus investment funds
Challenge
- Surplus pension funds required member payouts as per plan regulations within a compliance timeframe
- Existing systems unable to manage surplus payments
Solution
- Designed and built custom payment system with all necessary financial controls
Results
- Over 180,000 member payments completed well ahead of the regulated compliance deadline
- Very high level of member satisfaction
- Passed audit and control reviews