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Abu Dhabi Retirement Pensions & Benefits Fund launches a Pension Administration System

United Arab Emirates: Wednesday, January 10 - 2007 @ 15:35

The launch of a Pension Administration System is part of a major strategic initiative by the Fund to enhance the overall process of providing retirement pensions and benefits, through a time-saving, easy-to-use, secure and quick information system.

Currently, in the ‘Second Phase,’ the Fund is completely re-designing the specifications of the contributions collection and registration processes and will be working closely with entities during this phase. The contribution collection and processing module will enable employers to remit salary information to the Fund via a dedicated secure web site.

This will enable the Fund to validate and process data efficiently and ensure that customers’ contributions are calculated correctly, quickly and paid on time. In turn, this will improve response times and avoid delays in calculating and paying members’ pensions and benefits when they leave service.

Additionally this phase of the project will see the introduction of electronic submission of registration information and submission of proofing documents, also via the web interface.

The ‘First Phase’ was completed when the Fund successfully took full control of all pension and benefits payments from Abu Dhabi Finance Department, which have improved efficiency to Fund pensioners significantly as all services are now carried out by one organization.

The ‘Third Phase’ will commence in the first half of 2007 and will see the new system carry out all pension and benefit calculations and other administration processes using workflow and electronic imaging technologies.

Commenting on the launch of ‘Talk’, Mubarak R. Al-Mansouri, Director General of the Fund said: “I am very pleased to see this important milestone in the Fund’s history. The Pension Administration System project will complete this year and enable the fund to provide services that represent the very best in pension provision and customer service in every aspect.

‘Therefore, I am confident that the Fund’s customers – both the public and the entities doing business with the Fund – can expect to receive their services accurately, efficiently and on time.”

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Wednesday, January 10- 2007 @ 15:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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