Payment Run (Beneficiary Product)

In order to create the business transactions, a payment run must be scheduled.

Click processes, then click regular payments.

From the main menu on top, select Monthly Payments, then click alongside Select Type of Run on the sub-menu on the left. Additional options will be displayed.

Select Beneficiary Fnd from the sub-menu on the left.

Capture monthly run

Beneficiary Fnd

This facility allows for the scheduling of the beneficiary monthly payment run.

Select Capture Monthly Run from the sub-menu on the left. The following screen will be displayed, allowing for the capture of data.

This screen is used for the scheduling of monthly payment runs for the selected scheme.

Descriptions of the input fields appear below:

Effective Date	The effective date from which a payment must take place. The system will default the day to 01. Note: The effective date may be a date greater than the current date.
Transaction Date	The date on which the payment must be made.
Disinvestment Date	The date on which disinvestment must take place in order to cover the pension payment amounts.
Annuitant Type	Select the type of annuitant from the drop-down list. e.g. Annuitant Beneficiary Living Annuitant
Membership Group	The name of the membership group The name of the membership group used to define a group of annuitants who must be paid on different days within the same fund. Click LIST, and a list of membership groups will be displayed for selection. Note: The Membership Group selected is the Pay Day Group that is used for Clients who administer funds where annuitants must be paid on different days within the same fund, e.g. some on the 15th and some on the 25th. For more information refer to the Pay Day Groups section under Processes Regular Payments Annuity Payments Monthly Payments Capture Monthly Run
Pay Day	The specific day of the month on which payment must be made. Select a day from the drop-down list.
CERTIFICATES
Medical	Not yet implemented.
Interest	Not yet implemented.
Income	Not yet implemented.
Education	Not yet implemented.
Member Communication	Not yet implemented.
SCHEDULES
Payslips	A tick in the box indicates that a payslip must be generated.
Payslip File	A tick in the box indicates that a payslip file must be generated.
Disinvestment Advice	A tick in the box indicates that a disinvestment advice must be generated.
APPLY MEDICAL AID RATE CHANGES
Effective Date	The effective date from which a medical aid increase must be applied.
SUBMIT	Submits the captured details to the system.
CANCEL	Cancels any details captured, and generates a blank document.
READONLY FIELDS These fields are not updateable by the user.
Captured	The User ID of the person who captured this data.
Timestamp	The date and timestamp of when this data was captured (system generated).
Authorised	The User ID of the person who authorised this data.
Timestamp	The date and timestamp of when this data was authorised (system generated).

Once all the necessary data has been completed, click SUBMIT.

A message will confirm that the data has been successfully captured.

For more information refer to

My Work

Process SR

Beneficiary Payment Run

Additional

If Additional is selected from the sub-menu on the left, a screen will be displayed, allowing for the capture of data. This facility allows for the scheduling of the Additional payment run specifically for Bonuses.

Select Capture Monthly Run from the sub-menu on the left. The following screen will be displayed, allowing for the capture of data.

Descriptions of the input fields appear below:

Effective Date	The effective date from which a bonus payment must take place. The system will default the day to 01. Note: The effective date may be a date greater than the current date.
Annuity Type	Select the type of annuity to which bonus must be applied from the drop-down list. E.g. Annuities Beneficiary Fund Living Annuity
Employer	The name of the employer. Click LIST, and a list of employer names will be displayed.
Membership Group	The name of the membership group used to define a group of annuitants who must be paid on different days within the same fund. Click LIST, and a list of membership groups will be displayed for selection. Note: The Membership Group selected is the Pay Day Group that is used for Clients who administer funds where annuitants must be paid on different days within the same fund, e.g. some on the 15th and some on the 25th. For more information refer to the Pay Day Groups section under Processes Regular Payments Annuity Payments Monthly Payments Capture Monthly Run
ADDITIONAL
Type	The type of additional bonus payment to be made. Select a value from the drop-down box. Current values are: – 13TH CHEQUE – MIN PENSION – PAY BONUS
Amount	The additional bonus amount to be paid to a member / beneficiary.
Proportionate Start	The start date of the period for which an additional amount is declared. (The completion of this field is optional.) Refer to Further information about proportional dates below.
End	The end date of the period for which an additional amount is declared. (The completion of this field is optional.)
Bonus Minimum	The minimum amount of bonus that may be paid.
Maximum	The maximum amount of bonus that may be paid.
SUBMIT	Submits the captured details to the system.
CANCEL	Cancels any details captured, and generates a blank document.
READONLY FIELDS These fields are not updateable by the user.
Captured	The User ID of the person who captured this data.
Timestamp	The date and timestamp of when this data was captured (system generated).
Authorised	The User ID of the person who authorised this data.
Timestamp	The date and timestamp of when this data was authorised (system generated).

Further information about proportional dates

If a bonus is declared, then the proportional start and end dates can be used to define the full period for which the bonus has been declared. When adding the bonus, the system will look at each member in relation to the dates defined.

Example

Proportional start date = 01/01/2004

Proportional end date = 31/12/2004

Member 1 was a member as at 01/01/2004 and will therefore receive 100% of the bonus.

Member 2 joined on 01/04/2004. As he was a member for a part of the period only, he will receive a proportion of the bonus equal to 75%.

If no proportionate dates are defined, each member will receive 100% of the bonus declared.

Once all the necessary data has been completed, click SUBMIT.

A message will confirm that the data has been successfully captured.

For more information on increases, refer to

Supplements

Annuity Increases

Increases

Select Increases from the sub-menu on the left. The following screen will be displayed, allowing for the capture of details of annuity increases for the selected scheme.

Descriptions of the input fields appear below:

Effective Date	The effective date from which the increases will be applied. This date could be different from the Effective Date of the increase (see below) if increases are backdated.
Annuitant Type	ANNUITIES or LIVING ANNUITY
Employer	The name of the employer. Click LIST, and a list of employer names will be displayed.
Membership Group	The name of the membership group used to define a group of annuitants who must be paid on different days within the same fund. Click LIST, and a list of membership groups will be displayed for selection. Note: The Membership Group selected is the Pay Day Group that is used for Clients who administer funds where annuitants must be paid on different days within the same fund, e.g. some on the 15th and some on the 25th. For more information refer to the Pay Day Groups section under Processes Regular Payments Annuity Payments Monthly Payments Capture Monthly Run
Apply Increase:
Amount	The increase amount (optional).
Percentage	The increase percentage (optional).
Effective Date	Date from which annuity amounts must be increased (mandatory)
Payment Type	The type of payment to which an increase must be applied. Select a value from the drop-down list, e.g.: - Annuity - Ex Gratia - Housing Subsidy - Loan Subsidy - Medical Aid Subsidy
Proportionate - Start	Date of start of period for which increase must be proportioned (optional). Refer to Further information about proportional dates above.
Proportionate - End	Date of end of period for which increase must be proportioned (optional, but mandatory if Proportionate Start date is captured).
SUBMIT	Submits the captured details to the system.
CANCEL	Cancels any details captured, and generates a blank document.
READ ONLY FIELDS These fields are not updateable by the user.
Captured	The User ID of the person who captured this data.
Timestamp	The date and timestamp of when this data was captured (system generated).
Authorised	The User ID of the person who authorised this data.
Timestamp	The date and timestamp of when this data was authorised (system generated).

Once all the necessary data has been completed, click SUBMIT.

A message will confirm that the data has been successfully captured.

Supplements

Annuity Increases