Welcome to Penad Pension Services Limited
Founded in 1983, Penad is a leading supplier of DB/DC pension and group benefit software systems and TPA services for employers, unions, associations, insurance companies, banks, brokers, and governments.
Penad serves plan sponsors across Canada and in over fifteen other countries with end-to-end plan administration solutions, consulting and actuarial services.
Solution Ready
Penad delivers winning solutions to help clients achieve their pension and benefit administration goals.
The Penad Promise
When you choose Penad, you get a service provider and a partner who is committed to making sure that your pension and benefits plans are administered with utmost care and efficiency. We take our fiduciary responsibility very seriously and have designed our solutions to meet your total administration requirements.
Whether looking at bespoke software solutions or Third-Party Administration, Penad has products to satisfy the needs of all stakeholders in your pension and benefit plans.
- Our comprehensive solutions ensure every detail is cared for.
- Our four decades of software engineering excellence gives stakeholders better access to the information they need.
- Our streamlined processes and advanced algorithms result in lower administration costs.
- Our team of pension and benefits experts is here for you, to help you with the problems and situations that you are facing.
Great Software & Great People
Our History
1983
Penad Pension Services Limited was founded to improve pension administration through innovative technology. Recognizing the potential of the recently launched IBM-PC personal computer, Penad was established to bring greater efficiency to pension administration and system development, leveraging expertise from the insurance and technology industries.
1984
Within the first year, Penad signed several Defined Benefit pension plan sponsors as clients for administration services. By the end of the decade, Penad would go on to sign up over 100 DB plan sponsors for continuing services.
1986
While Penad was exclusively offering pension administration services, word got around about the exceptional PX2000 software program that Penad had built for administration. In 1986, two government plan sponsors approached Penad to purchase the program, launching Penad as a software company.
1992
Penad develops its first Defined Contribution pension administration software product, Penad Partner.
1995
Penad goes international, landing a major bank in the Bahamans as its first Caribbean software client.
1998
Penad opens first international office, Penad Caribbean N.V., in Curacao.
1999
Penad opens second international office, in Hamilton, Bermuda.
2000
Penad develops its next generation software platform, which wins clients over the ensuing few years across Canada and internationally.
2005
Penad adds its new Group Benefits administration module to the software platform, expanding beyond pensions.
2008
Penad adds its new Social Security Benefits administration module to their platform and signs a large national government plan for their national social insurance system.
2014
Penad’s client base expands to over a dozen countries.
2017
Frank Price retires and Matthew Price takes over as President and CEO.
2020
Penad acquires Seclon Logic Inc., a pension administration software company based in Toronto, Canada.
2023
Penad launches Version 11 of its core software suite.
2024
Penad begins work incorporating AI into its platforms.
Learn About Penad’s Administration Solutions
Get in touch to schedule a demo and to speak about the needs of your organization.