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Bravura Sonata Pension Administration from Bravura Solutions
Modern, flexible platform for administration of pensions, retirement, and investments. Supports defined benefit, defined contribution, and hybrid schemes, automated calculations, workflow management, multi-currency and multi-jurisdiction operations.
Product analysis by function
Pension Administration Systems for Pension and Investment Management
Software that manages participant records, benefit calculations, and regulatory compliance for corporate pension plans.
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Participant Data Management
(12 Yes /12 Known /12 Possible features)
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Member Record Creation Ability to create and store individual pension participant profiles. |
Bravura Sonata supports the creation and management of individual participant/member records, as described in product overviews and technical documentation. | |
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Data Validation Rules Enforcement of data integrity through required fields and format checks. |
Product documentation claims enforcement of data quality, including validation rules for required fields and formatting. | |
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Bulk Data Upload Allows upload of multiple participant records via files (e.g., CSV, Excel). |
Bulk upload of participant/member data, including files like CSV/Excel, is a standard feature per published capabilities. | |
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Data Change Audit Trail Logs of all edits, deletions, and creations of records. |
Audit trail for changes in participant/member records is highlighted in security and compliance features. | |
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Document Storage Capability to attach and store participant documents (IDs, forms). |
System offers document storage linked to participant/member profiles (e.g., IDs, forms). | |
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Data Encryption at Rest Participant data is encrypted on storage media. |
Encryption at rest is referenced as part of data protection and compliance. | |
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Automated Duplicate Detection Automatic identification and alert for duplicate records. |
System includes automated duplicate detection features for data hygiene. | |
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Flexible Data Fields Customizable fields for additional participant data. |
Supports flexible, user-defined data fields for participant/member data. | |
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Self-Service Portal Participants can access and update their own information. |
Self-service participant portals are promoted as a key capability. | |
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Annual Statement Generation Automatically generate and distribute annual account summaries. |
Annual benefit statement generation and distribution is included. | |
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Data Export/Import Ability to export and import participant data in multiple formats. |
Data export/import in multiple formats (XML, CSV, Excel) is supported. | |
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Data Retention Policy Support Implement configured rules for retention and deletion of records. |
Data retention policies can be configured for compliance. |
Benefit Calculation & Modeling
(10 Yes /10 Known /11 Possible features)
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Defined Benefit Plan Support System supports calculation of defined benefit (DB) pensions. |
System calculates defined benefit pensions; supports DB schemes directly. | |
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Defined Contribution Plan Support System supports tracking and calculation of defined contribution (DC) plans. |
System calculates defined contribution pensions; DC schemes are core to Sonata. | |
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Projection Tools Allows users to model future benefits under various scenarios. |
Projection/modelling tools (future benefits under scenarios) are available as part of the modeling/estimator capabilities. | |
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Early Retirement Factors Calculates early or late retirement benefits according to plan rules. |
Supports custom early/late retirement rules as part of plan logic. | |
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Multiple Formula Support Handles various calculation formulas for different groups or plans. |
Product supports multiple calculation formulas for different plans/groups. | |
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Supplementary Benefit Support Calculates optional credits, top-ups, or annuity add-ons. |
Capability to model and calculate supplementary benefit(s), add-ons, and top-ups is available. | |
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Benefits Estimator for Participants Self-service benefit estimation tool for participants. |
Benefits estimator for participants available within member portal. | |
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Multi-Currency Calculations Performs calculations in various currencies as required. |
Multi-currency operations and calculations are highlighted in Sonata materials as a key internationalization feature. | |
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Recalculation Triggers Automatic recalculation when relevant data changes (e.g., salary updates). |
Automatic recalculation upon underlying data changes (salary updates, etc.) is part of system workflow. | |
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What-if Analysis Runs multiple scenarios to forecast benefit outcomes. |
'What-if' scenario modelling is supported as part of participant and plan analysis. | |
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Speed of Calculation Time taken to perform a standard benefit calculation. |
No information available |
Regulatory Compliance & Reporting
(9 Yes /9 Known /10 Possible features)
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Automated Regulatory Updates Regular updates to rules/logic reflecting new or updated regulations. |
Automated regulatory updates are mentioned as a managed service/process in Sonata architecture. | |
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Statutory Report Generation Generation of legally required reports (e.g., 5500, SFAS disclosures). |
Generation of statutory/mandatory compliance reports is core product functionality. | |
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Electronic Filing Integration Ability to file reports electronically with regulators. |
System supports direct electronic filing for compliance with regulators. | |
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Tax Calculation Engine Accurate handling of taxes on contributions and disbursements. |
Integrated tax calculation engine is available for handling tax on contributions and payments. | |
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Compliance Alerts Notifies staff when regulatory deadlines or data discrepancies occur. |
Compliance alerts and notifications are included for key dates and exceptions. | |
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Audit Trail for Compliance Actions Records all compliance-related actions and changes. |
Audit trail for compliance action is covered under auditing and regulatory adherence. | |
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Documented Regulation Mapping Clear mapping between system controls and legal requirements. |
Sonata documentation references regulation mapping for system controls. | |
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Plan Document Management Stores historical and current plan documents for reference. |
Manages and archives plan documentation (current and historical). | |
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Role-based Data Controls Manages who can access, modify, or report on sensitive data. |
Role-based data access and control is integral to Sonata for compliance. | |
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Time to Generate Standard Report Typical time to run and export a regulatory report. |
No information available |
Payments & Disbursements
(10 Yes /10 Known /11 Possible features)
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Automated Payment Scheduling Ability to set up recurring and one-time payments. |
Automated payment scheduling (recurring and one-time) is part of disbursement automation. | |
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Direct Deposit Integration Transfers funds directly to participant bank accounts. |
Direct bank deposit (integration to participant accounts) included in payment process. | |
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Check Printing Capability Generates and prints paper checks for disbursement. |
Supports printing of checks for exceptional or manual disbursements. | |
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Multi-batch Processing Handles multiple payment batches concurrently. |
Can process multiple payment batches simultaneously. | |
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Payment Status Tracking Monitors payment statuses and failures. |
Payment status tracking, monitoring, and error resolution included. | |
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Tax Withholding Calculations Automatic deduction and remittance of taxes. |
Tax withholding calculations are managed by the payment engine. | |
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Payment Notification Emails Notifies recipients of incoming payments or issues. |
Payment notifications via email are configurable and supported. | |
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Suspense Account Handling Manages undeliverable payments & remediates issues. |
Manages suspense accounts for undeliverable or unclaimed payments. | |
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Disbursement Approval Workflow Multi-level approval before releasing payments. |
Workflow allows for multi-level disbursement approvals. | |
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Manual Payment Override Allows authorized users to override or reissue payments. |
Manual payment re-issuance and override available to authorized staff. | |
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Maximum Batches per Day Number of payment batches handled in a day. |
No information available |
Investment Management Integration
(10 Yes /10 Known /11 Possible features)
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Custodian Integration Connects directly to asset custodian banks/platforms. |
Custodian and bank platform integrations available for asset/fund management. | |
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Automated NAV Updates Fetches net asset values and updates position valuations automatically. |
Automated NAV fetch and update built-in for fund valuation. | |
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Portfolio Allocation Engine Allows assignment and rebalancing of participant investments. |
Portfolio allocation, re-balancing, and investment switching are supported. | |
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Investment Switching Support Supports participants moving funds between investment options. |
Participants can switch investments (fund options) via the platform. | |
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Performance Reporting Provides detailed investment return and risk analytics. |
Performance reporting and analytics for investment returns included in reporting suite. | |
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Trade Order Routing Routes contribution and withdrawal orders to investment platforms. |
Supports trade order routing for contributions/withdrawals. | |
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Real-Time Data Feeds Displays up-to-date investment valuations. |
Real-time investment valuations and data feeds supported. | |
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Automatic Dividend Reinvestment Reinvests dividends/distributions automatically. |
Dividend and distribution reinvestment can be automated per investment options. | |
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Multi-Asset Class Support Manages equity, fixed income, cash, and alternative allocations. |
Supports management across multiple asset classes: equity, fixed income, cash, alternatives. | |
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ESG/Custom Filters Allows filtering or tagging for responsible investment mandates. |
Filters for ESG or custom investment mandates supported for client-specific criteria. | |
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Max Allocation Options Supported Number of investment options the platform can handle. |
No information available |
Actuarial Integration & Valuation
(9 Yes /9 Known /10 Possible features)
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Data Export for Actuarial Valuations Standard interface to export required data for actuaries. |
Exports actuarial data in required formats for actuarial valuations. | |
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Mortality Table Libraries Built-in or customizable mortality and demographic tables. |
Mortality/demographic table support customizable at plan level. | |
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Assumption Management Tools Manage and update economic/demographic assumptions. |
Assumption management for economic/demographic variables is a documented feature. | |
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Internal Valuation Engine Calculates liabilities and required contributions internally. |
Internal valuation and liability calculation engine is supported for DB plans. | |
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Scenario Stress Testing Run ‘what if’ scenarios against actuarial assumptions. |
Scenario stress testing for plan funding and assumptions available through modeling tools. | |
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Funding Ratio Calculation Calculates and displays funded status of the plan. |
Funding ratio (plan-funded status) is included in standard and custom reports. | |
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Validation vs. Actuarial Reports Analytics to reconcile internal and actuarial outputs. |
There are analytics available to compare internal versus external (actuarial) outputs. | |
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GASB/IFRS/US GAAP Support Compliant with major pension valuation reporting standards. |
Supports reporting under GASB, IFRS, US GAAP, as applicable. | |
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Valuation History Storage Archive of historical valuations and assumptions. |
Stores a history of valuation calculations, assumptions, and outputs. | |
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Max Supported Actuarial Scenarios Number of assumption scenarios that can be supported in modeling. |
No information available |
Workflow & Case Management
(9 Yes /9 Known /10 Possible features)
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Custom Workflow Designer Visual or logic-based workflows for business processes. |
Custom workflow and approval process designer available for business rules automation. | |
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Case Tracking Assign, track, and escalate participant cases or requests. |
Tracks participant/member requests, issues and case assignments. | |
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Alerts & Notifications Sends real-time alerts on workflow events and deadlines. |
Automated alerts and notifications on workflow deadlines and events are available. | |
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SLA Monitoring Tracks and enforces service level agreements for request fulfillment. |
Can configure and monitor SLA adherence for process management. | |
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Document Workflow Integrates document approval, review, and archival. |
Document workflow is integrated with overall workflow/case management. | |
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Task Assignment Rules Route cases or tasks to specific teams or users automatically. |
Workflows allow automatic task/case assignment rules. | |
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Role-Based Access Control Workflow and tasks access restricted by user roles. |
Role-based access control available for workflow and tasks. | |
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Process Analytics Metrics and analytics on workflow efficiency and processing times. |
Dashboard and analytical tools for process metrics included. | |
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Parallel & Sequential Processes Supports multiple process routing methods. |
Can support both parallel and sequential process flows. | |
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Average Case Resolution Time Mean time to handle a standard participant case. |
No information available |
Security & Access Management
(11 Yes /11 Known /11 Possible features)
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Multi-factor Authentication Requires an additional verification step for user login. |
Multi-factor authentication supported for secure login. | |
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Single Sign-on (SSO) Support Integrates with corporate SSO solutions (e.g., Okta, Azure AD). |
Enterprise SSO (Single Sign-On, e.g., AzureAD, Okta) capability is available. | |
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Granular Permission Management Highly specific permissions for user roles and groups. |
Granular, highly configurable permission management for user roles/groups. | |
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Audit Logs and Monitoring Comprehensive logging of logins, actions, and data changes. |
Audit logs/monitoring are part of compliance and security features. | |
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Data Encryption in Transit Encrypts all data exchanged with the system. |
All data in transit is encrypted via HTTPS/TLS. | |
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Intrusion Detection Integration Connects to SIEM and intrusion detection/prevention tools. |
Integrates with enterprise SIEM/intrusion detection solutions. | |
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Field-level Security Can mask or hide sensitive personal information. |
Field-level masking/hiding of sensitive data fields is supported. | |
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Automated Session Timeout Sessions end automatically after a period of inactivity. |
Automated session time-out available for compliance/security. | |
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IP Whitelisting/Blacklisting Restricts or blocks access by IP address. |
IP whitelisting/blacklisting supported for further access control. | |
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Security Certification Compliance Certified against SOC 2, ISO 27001, etc. |
SOC2 and ISO 27001 certification compliance referenced in vendor docs. | |
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Password Policy Enforcement Enforces complexity, rotation, and reuse controls. |
Password strength, rotation, and policies enforced as part of security controls. |
Integration & Interoperability
(9 Yes /9 Known /10 Possible features)
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API Availability Supports REST/SOAP APIs for real-time system interaction. |
Comprehensive API support (REST/SOAP) for integration with other systems. | |
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Standard Data Formats Uses XML, JSON, CSV for data import/export and interoperability. |
Standard data format support including XML/JSON/CSV. | |
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Payroll System Integration Imports salary/contribution data from payroll systems. |
Payroll system integration available through API and batch processing. | |
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Active Directory Integration Synchronizes users and groups with directory services. |
Active Directory/LDAP integration supported for user synchronization. | |
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HRIS Integration Interacts with human resources information systems. |
Integration with HRIS platforms documented (Workday, SAP, etc.). | |
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Batch File Processing Handles scheduled upload/download of files. |
Batch file processing supported for scheduled data operations. | |
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Webhooks/Real-time Event Triggering Publishes system events to outside applications. |
Supports real-time event webhooks and triggering for integration. | |
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Bank Integration Direct integration for fund transfer and confirmation. |
Bank integration for funds transfer and confirmation is a described feature. | |
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Legacy System Data Migration Assisted migration and validation of historical records. |
Legacy system migration feature referenced in onboarding materials and implementation best practices. | |
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Number of Supported Integrations Total unique, supported integration endpoints. |
No information available |
Analytics & Business Intelligence
(8 Yes /8 Known /9 Possible features)
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Custom Report Builder Users can build custom reports from system data. |
Product offers users the ability to build custom reports using system data. | |
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Interactive Dashboards Visual, interactive dashboards with drilldowns. |
Interactive dashboards are available for plan analytics and operations. | |
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Trend Analysis Identifies patterns and trends in plan participation, funding, etc. |
Trend and pattern analysis analytics/tools are included in BI suite. | |
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Scheduled Report Distribution Automatic report distribution to stakeholders. |
System can schedule and distribute standard and custom reports. | |
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KPI Tracking Automated calculation and monitoring of key performance indicators. |
Tracking and reporting of KPIs (such as SLAs, process metrics) available. | |
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Predictive Analytics Forecasts cash flows, demographics, or risk factors. |
Predictive analytics for demographics, funding, and risk referenced in analytics documentation. | |
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Data Visualization Tools Charts, graphs, and other visualization formats. |
Data visualization tools (charts, graphs, etc.) built into reporting suite. | |
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Export to BI Platforms Compatibility with Power BI, Tableau, etc. |
Can export data to external BI/analytics platforms (Power BI, Tableau, etc.). | |
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Time to Generate Dashboard Average time to build and load a dashboard. |
No information available |
User Experience & Support
(8 Yes /8 Known /10 Possible features)
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Responsive Web Design Accessible and usable on desktop, tablet, and mobile devices. |
User interface is responsive and supports mobile/tablet/web. | |
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Contextual Help Help or tooltips provided throughout the UI. |
Contextual help and tooltips are provided for end-users. | |
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Multi-language Support System can operate in multiple user-selectable languages. |
Product supports operation in multiple languages, as per global support claims. | |
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Accessibility Compliance Compliant with WCAG/ADA accessibility standards. |
System's design incorporates accessibility compliance with WCAG/ADA. | |
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User Training Resources Access to guides, videos, and documentation. |
Training materials/user guides are available for users and administrators. | |
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Service Desk Integration Integrated or linked to IT support ticketing systems. |
Integrates or links with IT support ticketing/service desk platforms. | |
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Knowledge Base Online, searchable repository of FAQs and solutions. |
Online searchable knowledge base with FAQs and solutions accessible to users. | |
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In-app Guidance Step-by-step walk-throughs for processes. |
In-app guidance/walk-throughs are available for common workflows. | |
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System Uptime SLA Guaranteed system availability. |
No information available | |
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Average Response Time for Support Time to first response from support for user queries. |
No information available |
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