Over and above which high level of security, immediate disaster control and solid infrastructure has made the outsourcing model for pension and payroll conducive. Technology, domain knowledge and specialist skills often require huge investments and outsourcing firms are often better positioned than in-house functions as they can spread these costs over a larger base. India-Life realised early on that our client was the employer but our customer is the employee. We have successfully harnessed technology to create best practices in the form of proper streamlining and systemisation of processes leading to transparency. We are the only company with an ISO 9002 certification for both pension and payroll administration.
Customised solutions form our endeavour.
The key challenge for the payroll and pension management industry is going to be to provide a sustainable infrastructure that balances the needs of employees with the economic realities of the employers and their competitive marketplaces. The Dave committee report represents an innovative attempt to broaden the net of pensions to a part of society whose coverage is much lower than it should be. It also increases investment choice. There could be some implementation and cost issues but it is a big enough prize to fight and overcome them. Our focus is on employer or occupational pensions - provident, superannuation and gratuity funds.