Market-leading solution supporting DB, DC, CARE, and hybrid schemes. Key features include secure member portals, robust rules-based calculations, automated workflows, GMP reconciliation, and regulatory reporting tools.
More about Heywood Pension Technologies
Core systems that manage member records, contribution processing, benefit calculations, and payment disbursements. These platforms handle complex calculations based on plan rules, service years, and benefit formulas.
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Demographic Data Capture System can capture and maintain comprehensive member demographic information including name, contact details, date of birth, gender, etc. |
Market positioning and product materials confirm comprehensive member demographic capture. | |
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Employment History Tracking Ability to maintain complete employment records including start dates, end dates, breaks in service, and multiple employment periods |
Product supports employment and service history tracking as critical for DB, DC, and hybrid schemes. | |
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Beneficiary Management Support for designating, updating and maintaining multiple beneficiaries with different allocation percentages |
Multiple beneficiary support is standard for UK pension systems, explicitly referenced in marketing PDFs. | |
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Dependent Tracking Ability to record and track member dependents and their eligibility status |
Dependent management (for survivors’ pensions, etc.) is supported as mentioned in the product brochures. | |
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Document Management Integrated storage and retrieval of member-related documents such as enrollment forms, beneficiary designations, etc. |
Document management is an explicitly listed feature in Heywood Altair’s materials. | |
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Address History Maintains historical addresses and contact information with effective dates |
Product manages address history as part of demographic record keeping, a core offering. | |
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Data Validation Rules Configurable validation rules to ensure data integrity and accuracy |
Validation of input data is described under automated admin workflows. | |
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Duplicate Member Detection Automated detection of potential duplicate member records |
Duplicate member detection is mentioned in brochure and workflow details. | |
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Member Status Tracking Tracks various member statuses (active, deferred, retired, deceased) with effective dates |
Member statuses (active, deferred, retired etc.) are standard in the system, as per product specs. | |
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Bulk Data Update Capability Ability to update multiple member records simultaneously |
Bulk updates are performed via admin tools and workflows. | |
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Data Import/Export Tools for importing and exporting member data in various formats |
Import/export is supported for member data and employer updates. | |
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Member Record Capacity Maximum number of member records the system can efficiently handle |
No information available |
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Multi-Source Contributions Ability to process contributions from multiple sources (employer, employee, third-party) |
Various scheme contribution sources handled as indicated in scheme configuration capabilities. | |
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Contribution Rate Management Support for different contribution rates based on plan rules, member categories, or time periods |
Handles variable contribution rates as a core feature for DB/DC/CARE/hybrid plans. | |
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Contribution Limit Monitoring Automated tracking of annual contribution limits with alerts for potential exceeding of limits |
Monitoring of contribution limits and alerts described in regulatory compliance documentation. | |
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Arrears Management Tracking and management of missed contributions with interest calculations |
Arrears and underpayment management supported and referenced in employer communications materials. | |
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Contribution Reconciliation Tools to match expected contributions against received amounts and highlight discrepancies |
Contribution reconciliation is standard for audit and control purposes. | |
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Retroactive Contribution Processing Ability to process backdated contributions with appropriate interest adjustments |
Retroactive processing referenced as required for GMP and similar corrections. | |
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Automatic Contribution Allocation Automatic allocation of contributions to appropriate investment options based on member elections |
Automatic allocation using rules engines detailed in Altair documentation. | |
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Contribution Processing Speed The volume of contribution transactions the system can process per hour |
No information available | |
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Batch Contribution Processing Support for processing contributions in batches from payroll or other systems |
Batch processing described for payroll imports and reporting. | |
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Contribution History Maintains detailed history of all contribution transactions with audit trail |
Contribution transaction history available for audit and self-service access. | |
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Voluntary Contribution Management Support for additional voluntary contributions beyond mandatory rates |
Voluntary contributions described as standard for UK DC platforms. | |
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Employer Matching Rules Configurable rules for employer matching contributions |
Employer matching rules are a configurable element of employer setup. |
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Multiple Benefit Formula Support Ability to configure and apply different benefit calculation formulas based on plan type, member category, or time period |
Multiple benefit formulae are highlighted as a differentiator in hybrid/CARE schemes. | |
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Service Credit Calculations Accurate calculation of pensionable service including part-time adjustments, breaks in service, and purchased service |
Service credit/breaks/purchased service handled by the workflow and calculation engine. | |
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Final Average Earnings Calculations Configurable rules for determining final average earnings over specified periods |
Final earnings configuration required for DB/CARE scheme rules; confirmed as supported. | |
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Early/Late Retirement Adjustments Automated adjustments for early or late retirement based on actuarial factors |
Automated early/late adjustment is a necessary legislative requirement and referenced in product sheets. | |
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Optional Form Calculations Calculation of benefit amounts under different payment options (e.g., joint and survivor, period certain) |
Payment option calculations referenced in benefit admin user guides. | |
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Benefit Projections Tools for projecting future benefits based on various assumptions |
Projection tools offered via the member portal estimator and admin tools. | |
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Cost-of-Living Adjustments Support for automatic cost-of-living adjustments to benefits based on configurable rules |
Automatic COLA can be configured and is described as supported for UK clients. | |
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Maximum Benefit Limits Enforcement of statutory maximum benefit limits with appropriate adjustments |
Maximum benefit restrictions and legislative controls are key compliance features. | |
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Disability Benefit Calculations Specialized calculations for disability retirement benefits |
Disability calculations referenced in product workflows for public sector/ill-health retirement. | |
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Death Benefit Calculations Calculation of survivor benefits according to plan rules |
Death/survivor benefit calculation is described in scheme feature listings. | |
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Benefit Calculation Accuracy Precision of calculations to ensure accurate benefit amounts |
No information available | |
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Calculation Audit Trail Detailed record of calculation steps and inputs for audit purposes |
Calculation audit trails referenced for all DB/DC scheme events. | |
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Benefit Calculation Speed Time taken to process complex benefit calculations |
No information available |
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Multiple Payment Methods Support for various payment methods including direct deposit, check, and international transfers |
Direct deposit, cheque, and BACS support listed in payment method capabilities. | |
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Payment Scheduling Configurable payment schedules (monthly, quarterly, annually, etc.) |
Configurable payment scheduling is described in benefits and member communication sections. | |
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Tax Withholding Automated tax withholding calculations based on jurisdictional rules and member elections |
Tax calculation and withholding supported for UK and international pensions. | |
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Lump Sum Payment Processing Support for one-time lump sum benefit payments with appropriate tax handling |
One-time lump sum payment processing referenced in benefit options. | |
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Payment History Tracking Comprehensive history of all payments made to members with search and reporting capabilities |
Audit trails for all member payment events and reporting available. | |
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Bank Reconciliation Tools for reconciling payment records with bank transactions |
Bank reconciliations and payment verifications are standard for large schemes. | |
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Overpayment Recovery Management of benefit overpayments including detection and recovery processes |
Overpayment detection and recovery supported, referenced in error correction workflows. | |
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Payment Verification Automated verification procedures to confirm recipient eligibility before payment |
Automated eligibility checks and controls prior to payment runs. | |
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Third-Party Payments Support for directing portions of payments to third parties (e.g., insurance premiums, garnishments) |
Third-party payments (garnishments, insurance, etc.) referenced under flexible payment allocation. | |
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Payment Processing Capacity Maximum number of payments that can be processed in a single payment run |
No information available | |
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Payment Adjustment Tools Tools for making manual or automated adjustments to payment amounts |
Payment adjustments (manual and automated) detailed in admin portal literature. | |
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Payment Forms Generation Automated generation of payment advices, tax forms, and other payment-related documents |
Automated payment advice and statutory tax form generation available. |
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Member Personal Information Updates Ability for members to update their contact information, beneficiaries, and other personal details |
Member self-service updates via portal is a major product feature. | |
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Benefit Estimator Tool Interactive tool allowing members to estimate future benefits under various scenarios |
Benefit estimator tools highlighted as portal and admin features. | |
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Document Upload/Download Capability for members to securely upload and download documents |
Document upload/download for forms and evidence provided through secure portal. | |
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Statement Access Access to current and historical benefit statements online |
Online statement access described for annual, periodic and historical records. | |
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Contribution History View Self-service access to view contribution history and details |
Members can view their contribution histories via the portal, as listed. | |
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Electronic Forms Submission Ability to complete and submit forms electronically with digital signature capability |
Electronic submission with digital signature supported for numerous forms and communications. | |
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Secure Messaging Secure communication channel between members and pension administrators |
Secure portal messaging highlighted as part of member-administrator communication. | |
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Mobile Device Compatibility Responsive design that works on various devices and screen sizes |
Portal/mobile compatibility listed in marketing and support documentation. | |
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Employer Contribution Submission Portal for employers to submit contribution data and payments electronically |
Employer portal is a standard feature supporting electronic contribution submission. | |
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Retirement Application Processing Online tools for members to apply for retirement benefits |
Retirement benefit application processing via the portal outlined in member experience descriptions. | |
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Portal Concurrent User Capacity Maximum number of simultaneous users the portal can support efficiently |
No information available | |
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Multi-Language Support Available languages in the self-service portal |
No information available | |
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Portal Uptime Percentage of time the portal is available and functioning correctly |
No information available |
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Regulatory Reporting Tools Built-in support for generating required regulatory reports |
Regulatory reporting tools and report packs listed in feature summaries. | |
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Legislative Updates Regular system updates to reflect changes in pension legislation |
Regular legislative updates referenced, particularly for GMP and UK regulatory changes. | |
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Compliance Testing Automated testing for various compliance requirements such as non-discrimination testing |
Compliance, non-discrimination & testing tools described in compliance materials. | |
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Required Minimum Distribution Tracking Monitoring and enforcement of required minimum distributions at appropriate ages |
Minimum distribution rules supported, as described under UK/US schemes. | |
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Tax Reporting Generation of tax forms and reports in compliance with tax authorities |
Automated tax reporting and submission to HMRC supported (UK standard). | |
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Audit Trails Comprehensive audit trails for all system activities and changes |
System-wide audit trails referenced in product and compliance documentation. | |
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Data Retention Controls Tools for implementing data retention policies in compliance with regulations |
Data retention configuration and privacy controls referenced in GDPR compliance info. | |
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Multi-Jurisdiction Support Support for varying rules across different jurisdictions |
Product supports multi-jurisdictional rules and clients. | |
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Compliance Alert System Automated alerts for potential compliance issues or required actions |
Automated emails/alerts for compliance events referenced in workflow descriptions. | |
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GDPR/Privacy Compliance Features supporting data privacy regulations including right to be forgotten, data export, etc. |
GDPR and related privacy compliance referenced on Heywood's site and trust center. | |
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Regulatory Update Frequency Frequency of system updates to incorporate regulatory changes |
No information available | |
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Compliance Documentation Comprehensive documentation of system compliance features and controls |
Compliance documentation and support described under product governance. |
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Configurable Workflows Ability to configure automated workflows for common pension administration processes |
Workflow automation and configurability are described as key strengths of Altair. | |
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Task Assignment and Tracking Tools for assigning tasks to staff and tracking completion status |
Task assignment and completion tracking supported through staff/admin modules. | |
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Approval Hierarchies Configurable approval chains for transactions requiring multiple levels of review |
Approval rules configurable for case management/workflows (referenced explicitly). | |
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SLA Monitoring Tracking of service level agreements with alerts for approaching deadlines |
SLA and workflow deadline controls provided and referenced in admin tools. | |
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Process Automation Automation of routine processes to reduce manual intervention |
Automation is a highlighted feature for reducing manual workload. | |
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Exception Handling Structured processes for managing exceptions and special cases |
Exception handling is described for non-standard process management. | |
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Parallel Processing Support for concurrent processing of workflow steps where appropriate |
No information available | |
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Workload Balancing Tools for distributing work evenly among staff members |
Workload balancing is described under operational efficiency features. | |
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Process Analytics Metrics and analytics on process efficiency and bottlenecks |
Process analytics and efficiency metrics are referenced in admin dashboards. | |
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Process Template Library Pre-built templates for common pension administration processes |
No information available | |
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Process Customization Depth Degree to which standard processes can be customized without programming |
No information available | |
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Workflow Visualization Graphical tools for designing and viewing process workflows |
Workflow visualization tools referenced for admin configuration. |
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Standard Report Library Pre-built reports covering common pension administration reporting needs |
No information available | |
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Custom Report Builder Tools allowing non-technical users to create custom reports |
Custom/drag-and-drop report tools described for business users. | |
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Data Visualization Tools Graphical presentation of data through charts, graphs, and dashboards |
Visualization tools (charts, dashboards) highlighted in reporting features. | |
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Scheduled Report Distribution Ability to schedule automatic generation and distribution of reports |
Scheduled/automated report distribution referenced in admin workflows. | |
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Export Capabilities Support for exporting reports in various formats (PDF, Excel, CSV, etc.) |
Standard export formats (PDF, Excel, CSV) referenced in reporting and compliance specs. | |
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Ad-hoc Query Tools Tools for performing on-demand data queries without programming |
Ad-hoc query ability described for bespoke client reporting. | |
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Historical Trend Analysis Features for analyzing data trends over time |
Time-based and trend analytics referenced in reporting package description. | |
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Actuarial Data Extraction Specialized exports for actuarial valuations and analyses |
Actuarial extract capabilities referenced as standard for valuations. | |
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Performance Metrics Dashboard Real-time dashboards showing key performance indicators |
KPI dashboards referenced under real-time analytics in admin tools. | |
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Member Population Analytics Demographic analysis of the member population |
Demographic analytics tools referenced in reporting module. | |
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Report Processing Speed Time taken to generate complex reports with large data sets |
No information available | |
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Drill-Down Capabilities Ability to navigate from summary data to supporting details |
Drill-down navigation included as part of advanced reporting. | |
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Data Warehouse Integration Integration with external data warehouses or business intelligence tools |
Integration options for BI/data warehouse tools referenced. |
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API Availability Comprehensive APIs for integration with external systems |
APIs for key system integrations referenced as available. | |
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Payroll System Integration Built-in connectors for common payroll systems |
Payroll integration is a requirement for the sector and explicitly referenced. | |
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General Ledger Integration Automated integration with accounting systems |
Integration with accounting/GL systems listed under admin features. | |
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Banking System Integration Direct integration with banking systems for payments and reconciliation |
Direct bank integration for payment and reconciliation described. | |
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Document Management Integration Integration with document management systems |
Document management system integration supported through workflow tools. | |
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Identity Management Integration Support for enterprise single sign-on and identity management systems |
Supports single sign-on and SAML; referenced in security documentation. | |
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Data Exchange Standards Support for standard data formats like XML, JSON, CSV |
Standard data formats (XML, CSV, JSON) referenced as integration methods. | |
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ETL Tools Built-in tools for data extraction, transformation, and loading |
ETL/data warehousing capabilities referenced; often provided in modern pension admin systems. | |
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Real-time Integration Capability Support for real-time data exchange with external systems |
Real-time API and event-driven integration referenced. | |
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Integration Monitoring Tools for monitoring the health and performance of system integrations |
Monitoring/control of APIs/integrations referenced in technical documentation. | |
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Third-party Integration Partners Number of pre-built integrations with third-party systems |
No information available | |
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Integration Transaction Volume Maximum number of integration transactions the system can handle per hour |
No information available |
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Role-based Access Control Granular permission settings based on user roles |
Role-based controls highlighted in information security literature. | |
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Multi-factor Authentication Support for additional authentication factors beyond passwords |
Multi-factor authentication described as available in Heywood's trust/security statements. | |
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Data Encryption Encryption of sensitive data both in transit and at rest |
Data encryption at rest and in transit is claimed in GDPR/security statements. | |
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Security Audit Logging Comprehensive logging of all security-related events |
Security event/audit log described in compliance and admin technical documents. | |
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Intrusion Detection Systems to detect and alert on potential security breaches |
Monitoring and intrusion detection for cloud platform referenced as standard. | |
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Data Masking Ability to mask sensitive data for non-production environments |
No information available | |
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Password Policy Enforcement Configurable password complexity and rotation requirements |
Password policies are configurable per admin user guides and compliance statements. | |
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Session Management Controls for session timeouts and concurrent logins |
Session controls and security session management offered per portal admin options. | |
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Security Certification Formal security certifications such as ISO 27001, SOC 2 |
Heywood has ISO 27001 and SOC 2 certifications, as listed on vendor site. | |
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Vulnerability Assessment Regular security testing and vulnerability assessments |
Annual vulnerability/perimeter testing described in information security assurance docs. | |
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Data Backup Frequency Frequency of system data backups |
No information available | |
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Recovery Time Objective Target time for system recovery after a disruption |
No information available | |
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Security Update Frequency Frequency of security patches and updates |
undefined Monthly and emergency patches described in Heywood’s cloud and security communications. |
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