MIP Holdings (Pty) Ltd

standard reports and also caters for our clients customised reporting. With web functionality the system allows clients real-time access to member benefit and investment statements. Integration to banks, investment houses, SARS and other 3rd party systems is available.

manage multiple pension-backed loans. The parameter driven system provides for: Loan Quotations; Detailed Statements, Billing and Receipting. Automatic loan settlement forms part of the standard Exit Workflow.

holds records for annuity-based funds, which includes investment choices; annuity payment options (per member choice, payment amounts and scheduling) as well as SARS tax deductions and IRP5 processing.

for exiting members with the additional functionality of exit types and subtypes; individual and bulk exits; and user defined benefit calculation.

SARS integration means that your administration is made easy: clients can receive tax directive requests as well as EMP501 recons via the MIP system. The system also has the additional functionality of handling unclaimed benefits.

and payments are made easy because there are user defined Risk products, including approved and unapproved insured benefits.

Risk premiums and benefits are calculated in terms of premium to benefit – with attention to age, salary, maximum ranges as well as free cover limits and statuses.

and financial system has a documented contribution process for monthly contributions. The system’s functionality includes capturing new members as individuals or in bulk; real time billing and receipting, with full unitisation (including Additional Voluntary Contributions as well as all deductions for Insured Risk benefits, administration and consulting fees; before and after reporting; real time financial integration and the importing of contribution files.)

setting up new schemes simple .The Fund and financial setup is defined by your users so that your clients can establish their own parameters. The process of taking on data (including member data and transactions) is facilitated by MIPs import functionality and aided by an import mapping facility, which matches specific data.

fully embedded financial system, providing General Ledgers (including user-defined GL accounts and cost centres, financial calendars and year end processes); Creditors; Debtors as well as Cash Book (including bank reconciliation).  Ultimately this simplifies your processes and saves you time!

MIP’s Employee Benefits administration and financial system allows parameters to be set at various levels in order to meet your needs. These multi-level parameters cater for multiple-choice investments, reinvestments, risk premiums and the payment of benefits to members.

The parameters are defined at Fund Option Level, Member Group / Pay point / Participating Employer level, Category level and Member level. At these levels, various parameters are available, including Investment Portfolios, Exit Categories (types), Risk Benefits and Life Stages