PSPB Selects Sagitec for Pension System Modernization
Jun 5th 2020
11 : 15 am
The Public Service Pensions Board (PSPB) has selected Sagitec for replacing their current pension administration system. Sagitec’s Pension Administration Solution Neospin was chosen among other solutions as it meets all PSPB’s current business needs and can evolve to accommodate future needs.PSPB administers both Defined Benefit and Defined Contribution schemes for eligible employees of the Cayman Islands Government, Statutory Authorities, Government Owned Companies, members of the Judiciary and elected members of the Legislative Assembly.
“We at the PSPB look forward to a long and fruitful partnership with the Sagitec team to better serve our members and other stakeholders,” said Jewel Evans-Lindsey, Chief Executive Officer with the PSPB, “and we are excited to work towards implementing a system that will offer new features that will continue to demonstrate that the PSPB is a recognized leader in member services.”
Neospin will incorporate workflow and payroll solutions, implementing new member and employer-facing web portals, and introducing Electronic Document Management (EDM). Neospin will comply with data security and privacy standards to meet European GDPR requirements and other stringent compliance needs of the Cayman Islands.
The solution will be hosted on Microsoft’s Azure Cloud. Business continuity planning and disaster recovery are essential for the PSPB, with Cayman being an island nation. Hosting on the cloud will eliminate risks from natural disasters and ensure minimum disruptions to service for the PSPB’s members.
“We are excited to partner with the PSPB and deliver a quality system that will serve the PSPB and its members for years to come. We look forward to kick-starting the project soon,” said Piyush Jain, Sagitec Chief Executive Officer.
Sagitec and PSPB will start the project after normalizing operations due to the impacts of COVID-19.
The Cayman Islands will be the fourth country where Neospin will be implemented after the USA, Fiji, and Canada.
Background on Sagitec Solutions, LLC
Sagitec Solutions, LLC, is a global software provider focused on solving complex, business-rule driven problems with domain experts and proven technology. They serve some of the largest public pension organizations in the world. Their fully integrated, web-based pension administration solution supports millions of plan participants, many thousand employers, and administers multiple types of pension plans: defined benefit, defined contribution, provident, cash balance, hybrid, and Taft-Hartley. In addition to serving the pension industry, Sagitec Solutions also designs and delivers software solutions for unemployment insurance, paid family medical leave, disability insurance, and healthcare. With deep industry experience in software implementation and systems integration, project management, knowledge management, predictive analytics, chatbots, cloud services, consulting, hosting, and software support, Sagitec is a partner clients can trust to drive their vision into action. For more information, visit: www.sagitec.com.