Redbrucke

Redbrucke is the market specialist in Defined Benefit administration

Why invest in DB

    Many remaining schemes are likely to persist with Defined Benefit Remaining schemes often in protected industries with ongoing Admin & Actuarial requirement Defined Benefit schemes can still be profitable Business efficiency can secure profitability for the future.

Why invest in Redbrucke

     Specialists in DB Hold considerable proportion of Irish market System incorporates complex calcs and regulatory requirements greatly simplifying admin for providers System has actuarial capability with more planned Administer existing book and free up personnel. 1 to 10,000 member administration ratio

Benedict Feature set Admin

    Speed and Accuracy White box calculations Complete Leaver options process Data security and visibility

Speed and Accuracy

   All calculations are broken out to each step in all cases The most detailed leaver options are available step by step greatly empowering each user A checking system for the more experienced user obviating time consuming checking.

White Box Calculations

  All calculations are available to the smallest step. The system is 100% white box. There are no black box calculations.

Leaver Process

    The full defined benefit leaver options process provided; step by step. Deferred calculations Early and Normal Retirment calculations Transfer Value and deferred revaluation calculations

Data Security & Visibility

  Every step is auditable. The user organisation decides which fields and which users complete each task. The audit trail is complete. No transaction can be completed unless it is audited. Imperative from a risk management perspective.

Benedict Feature set - Actuarial

      Custom variables Custom formulae Transfer Value Bulk Quote Member status + liabilities Projected values (planned)

Custom Variables

   The user can create their own custom variables. User specific functions and formulae can be developed by the user and included as required independently. Custom variables greatly empower advanced and actuarial users of the system.

Custom Formulae

  Formulae can be developed retained and nested by experienced users. Organisational and user specific development is facilitated by the development of custom formulae.

Transfer Values

   Complete and verifiable transfer value calculation for each member. Bulk transfer values can be run in one step for schemes and subsets of schemes. All steps 100% verifiable.

Bulk Quotes

  The leaver options process is available for all of the scheme in one simple step. Bulk quotes provide 100% breakdown on the steps involved in the leaver options calculations for all members selected.

Member Status & Liabilities

   The full range of member status is provided. All member movements in status are retained and the movement history is presented on the member record Liability information is retained and available for reporting and display.

Benedict Feature set - Other

   Future compliance – regular updates Future risk management – admin system with actuarial feature set on top – admin system underpinned by provider data administration system Open system – easy to integrate with exisiting systems at book level – MS access based (available skill set)

Redbrucke

Benedict

Each sub component is listed on the left and broken down fully on the right

Bulk Quotes

Just Enter leaving date to process bulk quote

The BENEDICT system

 The system is designed using VBA (Visual Basic for Applications) with a Microsoft Access front end. The flexible nature of the system is designed to approach the issues of pensions administration from a modular perspective. the client only selects the modules that they require, so there is no waste.

 Unlike other ‘packaged’ pensions administration systems, each installation of BENEDICT is designed on a scheme-by-scheme basis. This permits a high degree of tailoring to the individual requirements of each scheme. For example, design features such as the increasing prevalence of part time service, career breaks, job sharing, etc., can all be readily catered for on BENEDICT.

Redbrucke

Eric Plunkett MA B.Sc AffSAI

 Eric Plunkett founded Redbrucke in 2002. Redbrucke is a leading provider of actuarial and pensions administrative systems in Ireland. There are currently approximately 160 Irish pension funds whose benefits are administered on the system. Redbrucke has also provided consultancy services in Ireland, the UK and Malta. During 2010, Redbrucke has been involved in the calculation and analysis of large pension liabilities in the UK.  Eric’s education includes Trinity College Dublin, the Institute of Public Administration and Harvard Business School. Eric holds affiliate membership of the Society of Actuaries in Ireland. He is a member of the global executive forum of the Economist Intelligence Unit. His interests outside of Redbrucke are economics, politics, history and languages.