Member Web Site (Functionality)

FUNCTIONALITY

DESCRIPTION

Registration

This process applies to ALL roles.

The authentication component within the system has been designed to manage the risks associated with internet access.  This component has been subjected to tests by an external company specialising in hacking both on the internet and the intranet.

The password is validated for complexity with a history of 12 passwords to ensure continued complexity.  The password can be set to expire monthly and facilitates lockout attempts.  The user can reset the password by answering questions and if successful, a new password is generated and e-mailed to the user who has one hour in which to use the temporary password.

If there is inactivity on the web pages, the system provides a timeout either at 15 minutes or 1 hour, depending on a site setting.  Significant additional security measures have been built into the system to guard against hacking tools that are available within the market.

Registration of members for access via the internet to view their current investment position, change their investment allocations and capture investment switches

Members can choose a username or ID code and password.  If automatic member registration is permitted by the fund, the member is provided with a unique number and upon registration, the member is automatically approved.  If automatic registration is not permitted by the fund then a list of pending registrations is provided on the system and an administration user authorises access for the member.  Once access is authorised the member is informed via e-mail.

The registration process requests a minimum of three questions and answers and fund-specific information.  This information is used to allow automatic resetting if the member forgets the password. 

Note:

The configuration of the installation of the system will determine the number of questions that are compulsory.

For information on the registration of Vodacom members refer to

Client Specific

ACA

Vodacom

Web Site Access

Data captured by member

Capture of changes in their investment allocations

Member captures allocation percentage for portfolios selected from list of fund's portfolios.  Contributions received after the change will be split according to this allocation.

Member can choose a personal allocation, life stage allocation, investment group default allocation or scheme default allocation. 

Capture of address details

Addresses (postal, electronic, fax) captured per membership.

Capture of bank details

Member captures bank account information.

Switching by percentage of investment in a portfolio and into multiple portfolios by selected percentages

Switching between unitised and interest portfolios dependant on switching and fund rules.

Enquiries available to members

Facility for members to view their personal details

The following information recorded for a member is available for viewing by the member:

-      surname

-      initials

-      date of birth

-      marital status

-      ID number

-      language

-      company reference number

-      scheme reference number

-      membership groups (categories/classes)

-      company branch

-      pensionable earnings

-      last monthly contributions                                      

Facility for members to view the current position of their investments (market value)

Balance per portfolio of all income types.  For unitised investment portfolios, includes investment transactions that have been unitised as at date of enquiry plus monetary value of investment transactions not yet unitised. 

For bonus allocation investment portfolios the members' investments plus bonuses are shown.

Facility for members to view their contribution transactions

Displays members' contribution transactions for a selected period.  Can be viewed together or per income type (e.g. employee contributions, employer contributions, etc.).

Facility for members to view their investment transactions

Displays members' investment transactions per investment portfolio for a selected period.

Facility for members to view their salary history

This is by type of salary.

Facility for members to view any documents that the administrator or trustee makes available (e.g. fund rules, benefit summaries, investment information etc.).

The administrator has the facility to provide documents for the member to access.  This enables a listing of documents in a directory (PDF, Word, HTML or HTM).  This could be the rules summary or booklet, the asset manager reports, an intranet site.

Facility for members to view benefit quotes for both current benefits and projected benefits

Benefit projections based on salary increase, investment return and inflation rate assumptions captured or read from fund rules.  These projections can be viewed as text or as graphs.

All quotes that are initiated are stored, including all values used to determine the quote.  This is kept as a record and is available to the member and the administrator in case of queries.

The member is prevented from seeing any quotes that the administrator has performed.

Unit price history per portfolio

List of unit prices per month or day (depending on pricing frequency) captured to date per portfolio.

Latest authorised benefit statement

The latest authorised benefit statement is available.  The full history of all benefit statements is kept within the system for the administrator.

Benefit disclaimers

Per fund, per event or system defaulted included on each quote.

Multiple memberships

The members have a list of the funds to which they belong, and they are able to navigate between these memberships.

Contact Us facilities

There are three types of contact facilities:

Marketing:         the e-mail address is set up at a global level

Administration:   the e-mail address is set up at the team associated to the scheme

Principal Officer:       the e-mail address is set up at the principal officer level per scheme