Pension Administration Application

The Patorn and its challenges

Our client is a leading Cape Town, South Africa insurance broker authorizing the National Pension Regulatory Agency to serve clients and operate pension schemes in Africa (NPRA). The customer guarantees timely identification, appoints portfolio managers and custody processes on behalf of the customer with regulatory enforcement and investment policies. Besides engaging in pensions, the consumer was also a pension scheme and management adviser, and training provider. The customer agreed to digitalize an application that would support the management to ensure the smooth management of pension amongst senior citizens. The main objective of the application was to enable application with the following installations:

  • Employee and employers’ self-registration that the administrator will verify
  • Provision to provide rules and regulations for each scheme following government legislation
  • Provision for monthly payments processing
  • Provision for each scheme, fund, assessment, and employer to handle the fund sum per month
  • Automatic Net Asset Value (NAV) and Fund Unit estimates Provision submitted for the administration of the beneficiary and other person information
  • Facilitate the management, management, and classification of various custodian banks the fund
  • Follow the regulations and NPRA advisory
  • Provision for the production of different declarations and reports


Tools & Technology

  • MVC
  • SQL Server
  • Windows Azure


With its special criteria to create a Pension Trust application, the Client approached Shivagya Infosoft. During its growth, the application needs were identified and careful consideration was required. In order to learn and understand how to apply this concept in a technological solution, Shivagya Infosoft appointed high-end engineers. First, our developers spoke with the client regularly in order to appreciate his application process and workflow, and then described the nature of the project.

The amount of money is four elements of each pension plan that represent the value for one of the four groups of workers in the investment fund (The Investment Fund for Growth, Balance, and Default Revenue). The deductions for pensions in the industry constitute 5% of the employee’s salaries. All the requirements of the customer have been addressed by our approach. The application has been established to automatically subtract employees’ provision funds by a certain amount according to the mentioned prices or percentage.

The application consists of five different categories of consumers.

  • The administrator of Pension Trust
  • Employers or companies
  • Employees to specific employers
  • Banks with Customers
  • Officers of NPRA

The system established allows the various Investment Fund types and the Master Trusts pension scheme to be configured. There is a separate proportion or absolute number for workers or employers for each form of Master Trust. Before the donation data are processed, the sum is validated. The framework has log management capability, especially on the payment and processing side, for registration and benefits. For the fingerprint program, the Griaule Fingerprint SDK framework was considered. The program for the electronic signature of Adobe Echo has been considered.

Categorical Bifurcation

The three principal categories (e.g. OPS, PFS, or GPPFS) may include any Employer, only one category per employer. Each Employer may belong to the employer. Both employees shall be members of the Master Trust which the Employer has signed on. On registration forms, each employee chooses an investment fund (crowd, revenue, balanced, or default). The Cumulative Secure Pensions Trust Fund is the overall sum of money in all the different Master Trust funds divided into one of the four investment funds.

Investment Fund Transfer Option

The proportion of the overall fund of each of the four forms of investment funds is extracted from the amount and contribution of workers from all the different employers who chose to belong to the investment fund. It depends on whether more people sign up for an investment fund or abandon it. Only after two years will people switch to another investment fund.

Fund Managers

One or more external portfolio managers who only supervise an asset type on demand will produce each guardian. At the time of registration by the pension trust, the asset class and the percentages assigned by the guardian to each Fund Manager shall be defined.

Custodian Rights

At the end of this month, a customer’s online site changes the Fund Balances on the Confidence Scheme. This provides information on dividends, fees, brokerage, and other payments or profits. The customer/fund manager/asset class updates are available in detail.

Balance Notification

As the new balances are entered in the trust scheme, each member’s bank account (a donation account for each member of the employee) is updated and each member’s investment fund’s unit value is recalculated with each master trust account. The scheme must similarly distribute all the members of the individual fund to each form of dividend or fee. Thus, at the end of every month after all the custodians have revised the fund accounts and the account of every participant will be recalculated at the Net Asset Value.

Penalty and Accrual

The Trust can then pay all workers until monthly contribution contributions have been made. If the contribution is short, the reward is less than expected for each employee. In the case of late fees, there is a 3% tax. The estimated donations, real contributions payments, penalty paid for each month and the penalty payments earned must be tracked. Both these sums are assigned to the account of each employee, who are currently representatives of the scheme of the business in question.

Management Rights

Detailed donations, penalty fees, costs of broking by the investment management, commissions, bank charges, and dividends, etc. must be kept in an official booklet. Details of planned contributions need to be kept. Every financial operation resulting from the administration of the fund and the pension administrator has distributed all workers that are members of the Master Trust Plan and we must keep the account details for the employees contributing the different schemes. New charging forms should still be available to us.

Shift to a new Scheme

When an employer wishes to transition to another Pension Trust, all of the employee’s information will be transferred to the various pension funds and all the specifics. Such a scheme also imports all the data from the pension trust from which the current customer is signed into a new business.


Biometric data was obtained at some point during the registration at visiting employer locations. The trust signatures employers who insist on registration online for all workers. The employer shall verify the quality and completeness of the data provided by employees. Therefore, the employer must check the biodata including addresses, dates of birth, etc after one employee has finished the online form. However, the boss should not be allowed to see if the employee’s investment fund or the list of recipients is chosen. The employer then automatically signs and scales the ID form of the employee.


For the complete framework and process audit, the code provides an interface to the NPRA. Members of the NPRA should be allowed to see the data on the Member’s budget, the form of investment, such as monthly donation add-ons, distributions, surcharges, penalty accruals, penalty fees, etc. To produce an ad-hoc report, users can pick the filters and performance parameters.

Payment Gateway

The device seamlessly combines with an SMS channel to allow the sending of SMS messages as necessary to users. The system can also send e-mails to employees of an organization, for example, whether the payments are late, or dependent on such conditions. The framework also has online registration and benefit management features. Until payment of benefits is processed, the machine can fingerprint and signature check.

In view of the following key elements, we have established this pension scheme:

  • Management of employers and employees
  • Customs and managers of funds
  • Control of Donations
  • Management of Fund and Scheme
  • Control of pensioners
  • Administration Benefits Paid
  • Classes of Asset
  • Charge and receipt for administration
  • Calculation of the monthly contribution and NAV
  • Generates Reports
  • Reports on NPRA and ad hoc

The pension trust system has some impressive characteristics:

  • Admin Panel – Setup Process Pension Trust
  • Trust Funds for Investment
  • Master Trusts Pension Scheme
  • Management of employers
  • Control of staff
  • Banks with Custodian
  • Fund administrators and asset classes
  • Employee and Employer Adobe Echo Signature
  • Fingerprint of Griaule
  • Notifications of emails and SMS
  • Monthly Employer Contributions
  • Benefits Accrued
  • Unitizing: Net Asset Value of Fund calculation
  • Manage the balance of the Participant Fund
  • Administer penalty on payments outstanding
  • Financial statement of the General Ledger
  • Transactions to Account
  • Account Export/Import
  • Processing benefits and payment of benefits
  • Member’s verification
  • CRM – Handling of complaints
  • General Reports
  • Reports from NPRA


Shivagya Infosoft provided this daunting project to customers benefit customers, thanks to its vast experience in customized product developments. To provide an appropriate roadmap for employers, staff, and retirees we have created a pension system for companies. With this technology, the consumer can simplify its online handling and make running more effective in general. It has also improved customer loyalty through its prompt and budgetary project execution with project schedule adherence. In this way, the customer will also make their customers more flexible and enable the consumer to plan the approach for the project.

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