This take-on layout enables the selection of a number of members for which an exit must be processed and the creation of one bulk payment or several individual payments.
This is typically required for the processing of Section 14 transfers to another fund. In these cases, one payment would be made to the transferee fund for the total of the benefits for all of the transferring members.
This functionality enables the loading of a file of members which will result in the processing of benefit payments for all of the members in the file.
In some cases this might be required to enable benefit payments to be processed for a group of members, but for which separate payments will be generated for each member.
Where individual payments must be generated, the payment method of EFT or Cheque will be used and separate payments created.
In cases where groups of members within the overall group of members will be paid to the same fund, the payments will be created with a payment type of group payment and payments will be created for the total of benefits per payee using the existing bulk payment functionality.
An Excel file with the name GroupBenefitPaymentsdatetimestamp.xls (where datetimestamp will be the date and time the file is created), must be created.
Detail record
|
|
Field Name |
Field Size |
DEC |
ATTR |
Start |
End |
Description / Value |
|
1 |
FUND NO |
7 |
|
Char |
1 |
7 |
Fund Code |
|
2 |
MEM NO |
20 |
|
Num |
8 |
27 |
Mem ref No |
|
3 |
Exit Date |
8 |
|
Num |
28 |
35 |
CCYYMMDD |
|
4 |
Realisation Date |
8 |
|
Num |
36 |
43 |
CCYYMMDD Realisation date |
|
5 |
Benefit Event |
50 |
|
Char |
44 |
93 |
Benefit Event |
|
6 |
Payee Name |
30 |
|
Char |
94 |
123 |
Payee Name |
|
7 |
Payment Method |
15 |
|
Char |
124 |
138 |
Payment method |
|
8 |
Account Type |
1 |
|
Char |
139 |
139 |
Spaces if Payment Method is CHEQUE or GROUP PAYMENT |
|
9 |
Bank Account |
16 |
|
Char |
140 |
155 |
Spaces if Payment Method is CHEQUE or GROUP PAYMENT |
|
10 |
Branch code |
6 |
|
Char |
156 |
161 |
Spaces if Payment Method is CHEQUE or GROUP PAYMENT |
|
11 |
Transferee Fund |
150 |
|
Char |
162 |
311 |
Document Number Chained. Spaces if payment allocation is cash. |
O = Optional field
M = Mandatory
Where payments are to be made to one payee for the total of all of the members' benefits, or separate payments are to be made to several different payees but for the totals of a subset of the overall group of members, the payment method must be GROUP PAYMENT.
Where payments are to be made to different payees for each of the members' benefits in the file, the payment method must be EFT or CHEQUE.
If the event category for the benefit event is BULK TRANSFER, these will be enabled to be processed automatically up to authorisation stage. If the event category is anything else, individual benefit payments will be created up to CLIENT AUTH stage which will then be processed individually in the same way as all other benefit payments.
Examples:
|
Column Name |
Example |
|
Scheme |
0007674 |
|
Reference |
1 (member number) |
|
Date of Exit |
20100131 |
|
Date of Realisation |
20100429 |
|
Benefit Event |
Bulk Transfer of Section 14 Transfer or Fund Dissolution |
|
Payee Name |
Sanlam Pension Fund |
|
Payment Method |
Group Payment |
|
Account Type |
Leave Blank |
|
Bank Account |
Leave Blank |
|
Branch Code |
Leave Blank |
For information on cancelling Bulk Payments, refer to
Supplements
Cancellation Bulk Payment Association