MIP FUNDS, BENEFITS & ANNUITIES
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MIP FUNDS, BENEFITS & ANNUITIES IS A FULLY INTEGRATED ADMINISTRATION AND FINANCIAL SYSTEM
MIP Funds, Benefits & Annuities currently administers hundreds of South African retirement funds consisting of over 1,000,000 members. Our powerful, dynamic, and fully integrated Funds, Benefits & Annuities administration and financial software solution has proven its capability and value to MIP’s extensive client base. The flexible and process-driven system also maintains high levels of integrity through automated real-time validations that enforce data verification throughout. Full audit capabilities complete the essential data change control and management measures.
MIP FUNDS, BENEFITS & ANNUITIES SOLUTION
A passionate, skilled, and experienced team of client service managers, business analysts, technical architects, developers, quality assurance, and project management personnel with over 200 combined years of experience in the industry. This experience
includes every aspect of the implementation and support of this critical solution, as well as all the business, legislative, and technological factors that drive change in the retirement funding industry.
An all-in-one integrated and automated Funds, Benefits & Annuities administration web-based solution built on Services Orientated Architecture (SOA). This facilitates streamlined, effective, and efficient business processes. It also means that our clients do not need to create and manage a complex matrix of software suppliers, systems, additional costs, and interfaces that need to operate with their core administration system. The comprehensive functionality included in this solution is:
Software-as-a-service Model (SaaS), which means that there is no initial capital outlay. This further reduces the risk to our clients. The system is installed, managed, and enhanced based on a fixed monthly fee linked to a key performance indicator, such
as the number of members or assets under management. This fee structure is designed as a risk-sharing proposition for our clients and includes all licensing, bespoke and general enhancements, data migration, and solution support functions.
MAXIMUM SOLUTION FLEXIBILITY
The design of the MIP Funds, Benefits & Annuities solution makes extensive use of user-defined multi-level parameters, and can be quickly and easily changed by authorised system administrators. The parameters, therefore, provide a simple configuration
mechanism for all new schemes, as well as for the underlying financials.
The multi-level parameters are defined for fund option levels, employers, pay-point or participating employer levels, category levels, and member levels. The following parameters are some of those available:
EXTENSIVE PRODUCT RANGE
All administration aspects of an extensive product range are supported, including:
All requirements for annuity-based funds for Living Annuities and Trusts are supported, including:
Group Insured benefit deductions and payments are easily facilitated by:
There is an increasing need for access to information for members, trustees, employers, and brokers.
The MIP Funds, Benefits & Annuities system is fully secured in terms of:
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