PensionBox UK

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CTC’s PensionBox is an End-to-End SaaS Technology platform for Running Pensions. It works for all UK’s DC pension types including auto-enrolment, Workplace, to SIPPs and SSAS.

PensionBox is the retirement in a box software solution that gives existing or new entrants to the pension market an easily deployable end to end pension solution.

PensionBox is fully compliant with the Finacial Conduct Authority (FCA) and the Pensions Regulator (TPR) regulations.

It is the perfect solution for providers in the financial sector who are looking to expand their pension business opportunities.

As with all CTC Pensions Technology solutions PensionBox has the provider and their end customers in mind, with compliance guaranteed and an excellent customer journey.

For financial advisers CTC’s PensionBox adviser hub allows them to manage everything from one platform.

Key Features

What is included with CTC PensionBox

Pension Administration

PensionBox is 100% cloud-based, allowing you to perform all your administration tasks from one individual dashboard. The dashboard is fully automated, so an administrator can oversee everything that’s going on with minimal intervention.

Administration consists of pensions and wrap cloud-based business processing, providing communications, contribution processing, and full administration to diverse pension providers from auto-enrolment, Workplace, to SIPPs and SSAS.

Actuarial Product Configuration layer

PensionBox utilises CTC’s actuarial product engine which contains 30 years of pensions development of over 200 Pension Providers and spanning over 15 Regulatory Regimes.

All shapes of pension provided with any number of permutations, all broken down into minute level of detail. This means products can be set up and configurable for every territory, covering product frameworks from EU and the UK including territory tax rules implementable at every product level.

Products contain the following overarching elements; Investments, Contributions, Charges, Withdrawals. The product engine can configure the following on all product types allowing for full administration and illustrations, taken to market at speed.

User Interface

We utilise our extensive actuarial background and our powerful calculations engine to underpin the foundations of the project, taking care of the financial details, while our design expertise provides the creative digital mindset by putting the user at the centre of everything PensionBox. We ensure every solution meets the WCAG 2.1 accessibility guidelines making your platform easy to understand, simple to use, and jargon-free, when possible.

This does mean that absolutely everything could be done in one place on the customer hub, including planning for their retirement or customer engagement if paired with our Digital Microservices Portfolio. The idea is for members to be able to map everything out and have a summary in their hands where they can revisit and manage it at any time.

PensionBox UK standard functionality includes:

  • New pension application form
  • Pension summary
  • Manage my details
  • View transactions
  • View documents
  • Pension transfers
  • Investment breakdown
  • Manage contributions
  • Simpler statement Basic contribution planner (excluding decumulation customers – drawdown calculator instead)

PensionBox UK additional functionality includes:

Additional functionality can be incorporated into the solution by utilising are expansive range of microservices from our Digital Microservices Portfolio including:

·Retirement Planning tools

·Pension Withdrawal modules

·Additional Customer Engagement modules

·Pension Illustrations modules

·Investment Management modules

PensionBox is also pre-configured to integrate with the EU PEPP

Key Benefits

How PensionBox helps an organisation

CTC understands that every company wants to own their own applications but achieving an in-house built solution can take a huge commitment of both time and money.

PensionBox has been designed with all the functionality a business would need (and more) to have their pension business up and running in days.

Improved usability

PensionBox has been designed with end-users in mind. The processes are well thought out and simple for customers to follow through the process without having to visit your advisory organisation.

Mobile-first approach

No matter which device customers decide to use, our technology adapts to the user’s screen size to ensure a flawless experience.

In portal notifications system

Easily view any updates on their account, our technology will ensure to send customers any changes notifications.

Improved pension summary

Imagine having a full summary of your retirement financial life all in one platform, including plans on how you plan to view it. By allowing customers to visually see how everything is from the bird’s eye view, it has been scientifically proven to help.

Improved pension management

No matter in which areas of their lives their money is coming from, where it is saved, and how they plan to allocate and use it.

Easy integration

with additional modules including Income Drawdown process and retirement planning.

API driven

PensionBox can integrate with existing platforms (provider and adviser) through APIs without a worry of any interferences.

Saving the cost and hassle of hosting applications, CTC typically provide its applications under a SaaS model. CTC can support an on-premises deployment if required