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Onyx Docs

What is Onyx?

Onyx is pension administration software for a pension trustee. It keeps the records and runs the processes a trustee needs to administer pension schemes in Ghana: who the members are, which employer they work for, what has been contributed on their behalf, what it is worth today, and what is paid out when they retire, leave or die.

Onyx is built around the three-tier structure set by the National Pensions Act, 2008 (Act 766), as amended by Act 883 (2014). The trustee runs the privately managed tiers: the mandatory occupational scheme (Tier 2) and the voluntary schemes (Tier 3: provident funds and personal pensions).

What it covers

Section titled “What it covers”
  • Membership. Registering members and employers, keeping their details and identity checks (KYC) up to date, and recording each member’s employment and beneficiaries.
  • Contributions. Employers send in the contributions for their staff. Onyx checks them, flags anything that looks wrong, and turns accepted contributions into units in a fund.
  • Investments. Funds are valued on a schedule, unit prices are published, and holdings are checked against the limits set by the regulator and the scheme.
  • Benefits. Retirement, early retirement, incapacity, death, emigration and withdrawal claims are raised, checked, approved by a second person and paid.
  • Money and accounts. Bank statements are matched to the contributions and payments they belong to, fees are accrued and paid, and everything is recorded in a general ledger.
  • Compliance. Regulatory returns, trustee licences, an audit trail of who did what, and an access log.
  • Communication. Email and SMS to members and employers, one at a time or as broadcasts, plus statements and push notifications to the mobile app.

Who uses it

Section titled “Who uses it”

Onyx has three kinds of user, each with its own portal. A person in one group never sees what belongs to another: an employer sees a member only as its own employee, and a member sees only their own account.

User Portal What they do
Trustee staff Ops portal Administer schemes, members, employers, money, investments and compliance
Employers Employer portal Manage their staff on the scheme, submit contributions, raise claims
Members Member portal and mobile app See their balance and statements, update their details, claim a benefit

The next page describes each one.

Where to go next

Section titled “Where to go next”