1.45 Process Party Maintenance Detail

This topic provides the systematic instructions to define Party Maintenance in pension module.

You can create customers and other parties in the system. The system creates any person/ institution involved in pension processing as parties and attaches respective roles. The system identifies each party by a unique Party ID.
You cannot amend Address, Bank and Identification details from Party Maintenance screen. You can amend the same from standalone screens only. However, you cannot amend the bank details even in stand-alone screen except last verified date and status.
Any amendment done in party screen which has the role of investor or employee will be handoff to TA system to enrich the investor accounts.
The following section data from party screen will be handed-off to TA:
  • Basic individual/corporate details
  • Director details for corporate parties
  • Address details
  • Bank and ID details
Following details will not be handed-off to TA:
  • Tax compliance
  • Additional information

Note:

  • Unitholder Income distribution setup (UH IDS) for the pension investment accounts in FCIS should be of re-investments only. The system validates the same using Pre-EOD check.
  • The Pre-EOD sequence number 3050 checks the number of IDS setup with payout option, for Pension Administration investment accounts.
  1. On Home screen, type PADPARTY in the text box, and click Next.
    The Party Maintenance Detail screen is displayed.

    Figure 1-52 Party Maintenance Detail


    Description of Figure 1-52 follows
    Description of "Figure 1-52 Party Maintenance Detail"

  2. On Party Maintenance Detail screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 1-44 Party Maintenance Detail - Field Description

    Field Description
    Party ID Alphanumeric; 16 Characters; Mandatory

    Specify the party ID.
    Party Type Mandatory

    Select the type of party from the drop-down list. The list displays the following values:

    • Individual
    • Corporate
    Protected Investor Level Mandatory

    Select the protected investor level from the drop-down list. The list displays the following values:

    • Classified
    • Unclassified
    Preferred Currency Alphanumeric; 3 Characters; Optional

    Specify the preferred currency code. Alternatively, you can select preferred currency code from the option list. The list displays all valid preferred currency code maintained in the system.

    If preferred currency is not provided, then the default bank account currency will be the preferred currency for that account. If preferred currency is provided, there should be at least one bank account maintained for that preferred currency.

    You can still capture a party with preferred currency passed without bank details.

    Note: If broker and other entities are coming from TA to Pension Administration, then any amendment of such entities in Pension Administration will NOT be handed off the TA. The system will consider TA details as final record. Add info will not be passed on from TA to Pension Administration and vice versa.
    Preferred Currency Description Display

    The system displays the description of the selected preferred currency code.
    Title Alphanumeric; 3 Characters; Mandatory

    Specify the title assigned to the customer. Alternatively, you can select the title from the option list. The list displays all valid titles maintained in the system.
    First Name Alphanumeric; 100 Character; Mandatory

    Specify the account type. Alternatively, you can select account type from the option list. The list displays all valid account type maintained in the system.
    Middle Name Alphanumeric; 100 Characters; Optional

    Specify the middle name of the customer.
    Last Name Alphanumeric; 100 Characters; Optional

    Specify the last name of the customer.

Parent topic: Pension Funds Administration