Mosaic Defined Contribution is a defined contribution retirement fund arrangement. Designed to deliver optimal service, this product is suitable for both pension and provident funds as well as back-to-back (Pension-Provident) arrangements.
Specifications
- Mosaic Defined Contribution supports unitised and non-unitised investment products.
- Members are able to view their personal details online. They have access to relevant and timely information about Mosaic Defined Contribution, their benefits and account balances, as well as issues impacting their retirement planning.
- The receipt and reconciliation of monthly data to contributions by means of one of several electronic data and income solutions and business processes, in partnership with the employer payroll, facilitate the accuracy of the data used in the administration of member retirement savings.
- Data quality is enhanced through daily bank reconciliations and monthly investment and member account reconciliations.
- Funds using Mosaic Defined Contribution will be audited but can operate either on valuation exempt or non-exempt basis.
- Surety arrangements are supported.
- A set of defined services is offered from which the trustees of a fund may select depending on the needs of the fund and its members. Within each service as far as possible, flexibility is provided with respect to the frequency with which the service is used by the fund.
- The trustees can elect to offer a Lifestage model. This model allows the member to move through an investment path based on age bands aimed at ensuring that his/her most appropriate investment profile (with regard to risk and return at a particular age) is achieved.
Turbo features
Turnaround times on member transactions are reduced due to the use of technology. The use of one of several electronic data and income solutions and business processes help the employer with the provision of timely and accurate data.