Pension Payment Management

A state of the art accounting system, combined with pension reporting and an actuarial calculator.

Union.dev's Pension Payment Management applications allows your benefits department to handle all of the payment calculations, processing and payment fulfillment for your retirees. No need to outsource any step of the process. We will provide you with an end-to-end Pension Payment Management application based upon your plan's needs along with your locals needs and your members expectations of exceptional service.

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Your Full Service Pension Payment Solution Awaits

From simple to complex, we handle it all.

While many locals throughout North America believe it's easier to outsource pension payment management, we believe you should be there every step of the way. Forward-thinking unions will move straight to reinventing their service offering. With technology you can now do it better, faster and cheaper. Our modern accounting and pension management software allows us to give you a solution that brings the cost of most direct deposits to nearly zero dollars. If you are not managing the member's needs during retirement how do you know they are getting the service they deserve? 

Are you ready to transform your retirees payments? The time is now.

Our simple three step process is intuitive and easy to use . Everything is simplified and handled on a case-by-case basis. All you team needs to do is focus upon retiree relations and serving them to the best of your ability.

Bank account changes, address changes, level income drops, guarantee period cessation? Our software allows your team to communicate and support throughout. Until death do you part. Even then we make it easy for you to support surviving spouses, surviving beneficiaries and estates.

Benefits of a Custom Pension Payment Management Application

Give your union the edge.

Step 1

Our software can handle any retirement, termination, other member's life transitions (death, disability, marriage breakdown, shortened life expectancy, etc.) Member services simply move the member from Active or Inactive to retired and automatically calculates their retirement or commutation options. You then present the member with an authorization and await the returned election. You can start paying in minutes.

Step 2

A quick double check to make sure everything is in order, and the case is transferred instantly to the financial payments module. Typically this is handled by another individual - in the finance department (read: approver, or signing authority). Adjust the net payment for the appropriate taxes and send it off for payment. Our software even handles garnishments, unlimited additional tax deductions and as many payment options as necessary.

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Step 3

Pay the member. Our software can pay an ad hoc cheque, or thousands of direct deposits. Overseas members can easily get a wire transfer, or we can integrate into any other electronic funds transfer solution they might subscribe to.  

Reconciliations and updating of the payment transaction history file on a per retiree basis always keeps the important and necessary data at your fingertips.

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Digital Transformation

No more excuses.

Bring this process in-house. Serve your members well.

01

Unique

Setup as a case management system, your workflow and process is reflected in your software. Pension Payment Management can easily be brought in house. members serving members. No more TPAs, no more outsourcing of this "last mile".

02

Efficient

Pension Payment Management can be as automated (with multiple review steps) or as manual as you like. Start with a manual process and move to nearly fully automated. We work with you to make it happen.

03

Easy to Use

Members can see what and when they are getting paid. Changes can be made by members, and approved by you. Or you can provide a full service department where you make the changes. Integrated with our Member Portal our solution is seamless and easy.

A customizable Pension Payment Management system takes the tedious and confusing work out of managing payment processing. Ask us about how we are paying over 7,000 members every month for a large local in central Canada. Union.dev’s software "platform as a service" make sure you pay the right person the right amount the right time - every time.

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A Fintech Solutions for
Unions!

From retiring the members, calculating their retirement annuity and paying them for as long as they live - that's what our Fintech Platform-as-a-service solution does for you. Fully transparent to all who need access. Secure, reliable and 100% auditable. Every transaction and every payment.

No more excel and cut down on data entry. Move your pension and finance team "upstream". Have them doing important tasks, not data entry and reporting. Let our modern cloud based pension reporting system integrated with our modern API-Enabled on premise accounting package do the data work for you. Your staff can focus upon "added-value" services - for the benefit of the members.

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We Believe in Transparency

Improve efficiency, leverage technology, and provide better member experiences with a modern platform:

  • Want to give final approval to your business manager? No problem.
  • Want to make is nearly fully automated? No problem.
  • Want self-serve? No problem.
  • Accounting needs to account for every penny? No problem.
  • Want your auditors to be able to trace every payment? No problem.
  • Want your actuarial consultants to review every calulcation? No problem.
  • Want your legal team to be able to review compliance? No problem.
  • Board of trustee's needs up to date reports? No problem.
  • Real time reporting? No problem.
  • Unique dashboards for better decision making? No problem.

No Problem, we can do that

Perfect Solutions For Your Union!

Technology Transformation doesn’t happen overnight, and there’s often more than one squeaky wheel. When you’re searching for the right solution, we recommend working with an expert who understands what you’re going through and speaks your language. There’s no prep work required on your part. We’ll find a time that fits your schedule and take about 60 minutes to familiarize you with your current situation.

With the knowledge you gain, you’ll be better equipped to ask questions that are specific to your needs and environment. And with the knowledge we gain, we may be able to provide some solutions that will fit your needs.

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