Procentia launches a Good ISP+ for its present shoppers who’re at present leveraging its IntelliPen pension administration software program to connect with the pensions dashboard.
The pension software program specialist has additionally launched its Good ISP, an answer out there to giant pension schemes, grasp trusts, insurance coverage firms or third-party directors (TPAs) that don’t at present use its IntelliPen software program as a core administration platform however nonetheless want to connect with the dashboard dynamically.
Though just like the companies of generic built-in service suppliers (ISPs), Procentia’s options are set to probably rival these of its opponents with a capability to run calculations by way of a dynamic API, supported by the configuration of its IntelliPen software program. Stay calculations allow extra correct representations of the projected retirement earnings of a scheme member to be shared.
“The framework for Procentia’s Good ISP+ answer hyperlinks by way of a dynamic API immediately into our IntelliPen pensions software program, thereby growing efficiency efficiencies, eradicating limitations to automation and eliminating the necessity to frequently run batch processes,” explains Steve Donkin, CEO of Procentia.
Procentia is in preparations to take part within the beta testing section of the pensions dashboard; one thing that had initially been delayed. Initially timetabled to start in Could, the beta section is now set to start out in September 2022.
As soon as the authorised API specs are printed, Procentia’s group will full the event and testing of its Good ISP options.
“A number of of Procentia’s shoppers are set to turn out to be early adopters by becoming a member of us within the beta section. Because of our various consumer illustration in these areas, together with grasp trusts and largely outlined profit pension schemes, our ISP answer can be tried and examined, and our partnerships will imply all our shoppers can onboard with confidence sooner or later,” added Donkin.
To turn out to be an environment friendly and efficient ISP requires new software program and infrastructure to be developed and maintained. An extra price is subsequently anticipated for utilizing Procentia’s ISP options. Charges are prone to be based mostly on a per-member foundation, though this has but to be confirmed by the corporate till last technical particulars are printed by the pensions dashboard programme.
Procentia has additionally introduced that some preliminary set-up charges may additionally be required for its shoppers to connect with its ISP. For instance, calculations could have to be adjusted to make sure all crucial output information from a consumer’s pension system appropriately matches the required estimated retirement earnings (ERI) format that the cash and pensions service (MaPS) confirms the pensions dashboard will use.
Procentia’s IntelliPen pension administration system has been designed to work each for in-house scheme directors who want an entire one-stop answer, and third-party directors who want to implement a best-of-breed product.