INTRODUCTION

Pension System is the income received for a lifetime from an

Approved Pension arrangement, and also from a non-approved

Pension arrangement by a person who has retired. Such

payment should be made at least annually. In addition to the

number of the approved Pension arrangement, another person

maybe entitled to Pension benefits provided under the pension

plan upon the death of the member. Retirement is one of the

Most important stages that we may experience in our lives.

Reaching your retirement goal requires smart planning and a

Disciplined approach to making investments. So how important

Should a pension be? While other retirement options can be a

Good fit. Particularly if a planned sufficiently, having money,

Professionally managed instable, structured pension can make

a significant difference in a long-term, According to Davis

(2005), A retirement should be something to look forward to. It

should not be a managing doubt that someone avoids thinking

about. While retirement options are ever evolving, having a Clue

about how pension works, definitely retirement move Worry-free.

According to Dave, (1988), the payroll of a Pensioner used to be

calculated manually without the help from a Computer.

Accountants invested a lot of time and energy into Keeping

tracks of all employees’ data files and information Calculating

pensioner’s monthly salaries, hourly remunerations ,Bonuses,

deduction and so on. All these are done by keeping Numerous

files filled with track records for each and every person

employed. The problems of current system are all those things

associated with manual working system. It is time consuming to

produce reports as compared to any computerized systems. Humans

are probe to errors, there is always possibility of errors in

producing results. It can also be overpayment, underpayment of

pensioner salary; delay in payment of pensioner salary because

of too much time is spent in preparation of the payroll of a

pensioner. As all the work done is written on registers, it any

register is missed or damaged at is simply very difficult to

produce or present accurate figure of a pensioner. An employee

can make fraud by writing wrong entries or simply impossible to

catch the defaulters because there is no proof. Nowadays,

however, things are simpler than they used to Be, because

technology is always dedicated to making things Easier and

better, quite a variety of Computerized Pension System is

available to save us from this tedious task. Now instead of

keeping dozens of files and spending endless hours Calculating

all employees pension all you have to do is to get a payroll

software and let it do all the nasty work. A manual Pension

System means doing everything by hand while a computerized one

will enable its users to store unlimited data, keeping track of

everything, whole with manual it does not have to keep track of

all employees by hand. It can even separate regular work hours

from overtime and calculate the different remuneration according

to set parameters. The Computerized Pension Software will

provide accurate calculation regardless of the amount of data

stored. The Computerized Pension Software spends time and money

and they are very easy to use and they are also very practical.

The program also allows the monthly payroll of a pensioner

schedule to be calculated accurately. The amount of salaries

credited to employees or a pensioner’s account is a variant of

their allowances. This pension payroll processing application

also considers employees income tax regulation and loan payment

details. Based on these considerations the salary of each

employee is deducted at the source. Moreover, instead of using a

manual pension System which you have to do everything by hand. A

Computerized Pension Software will enable you calculate

automatically all pay Frequencies, employee statutory deduction,

bonuses and Monthly Pension allowances. In conclusion,

Computerized Pension System can be done or Calculated with the

guide of a program which is the application Software and the

Operating software. The system is good in for Its specialty in

the field of accounting. It also calculates a Payroll of a

pensioner easily, efficiently, effectively and Accurately.

OBJECTIVE OF THE STUDY

The objectives of this project is to primarily computerized the

existing system which the manual ways to assist and ease the

work of any types of organization, in particular, pension

management system is being developed. Payroll of a pension

management system would take care of the day to day attendance

of all employees. The regular backup data can be taken and the

backup data be restored effectively so the pension management

system assists the employees of an organization in each an every

aspect of in and out. The pension management system is developed

according to the needs any

types of organization.

1) To design and implement a pension system that should accept

employee hours worked computer net pa and record all the

pensioners data for sub-sequent processing.

2) The system should prepared pension cheques and a payroll

ledger for and a payroll ledger for a pension and Maintain on a

sequential vote.

3) Non-statutory deductions such as union development Pension

plans to be made

4) The payroll of a pension data is employee number Employee

name. Pay rate and union member’s flag.

5) The total should contain earning, federal tax pension plan

and union dates.

SCOPE OF THE STUDY

This develops a computerized pension system that would keep a

record of employees or pensioner data including their pension

plan, allowances, gratuity, taxes and net pay, rent pay and soon

and also calculates the pay off the pensioners taking into

consideration employees on pensioner’s data.

LIMITATION OF THE STUDY

The big problem associated with in sourcing pension is that

forces organizations to take on the burdens associated with

hardware upgrades as well as the personnel cost linked to system

maintenance. Computerized pension management system can best be

used to control errors and frauds the pension system. A

Computerized Pension System control task of process and accurate

calculation of the salaries.

SIGNIFICANCE OF THE STUDY

The importance of this study of a computerized pension system is

to make work easier faster for an accountant or a clerk to keep

track of every employees or pensions data, files, information

computerized pension system saves time and money, at also allows

the monthly pension schedule to be calculated accurately and

effectively and it because pension system, In order words,

computerized pension management system is important and

recommended so that errors in the

DEFINITIONS OF TERMS

Computerized Pension System: It is a use of friendly services

that will save the time to calculate various pensioner benefits

and process the monthly pensions payment and update cash book

taste and accurately.

Pension system: It is the income received for a lifetime by a

person who has retrieved.

PENSION PLAN: It is a method in which an employee transfer part

of his or her current income stream towards retirement income.

PENSION: This according to Oxford Advanced Learner Dictionary

defined pensions as the amount of money paid regularly by a

government or organization to somebody that is considered to be

too old.

Employee Data: This is the employee’s information in the

organization it consists of the employee identification number

employee name pay rate, pension plan, and union number flag.

HOURS WORKED: This is the number of times that employees work in

a month. The hours worked is used to calculate the pay that an

employee will receive for the month.

NET PAY: It is the remaining amount of an employee's gross

pay after deductions such as taxes and retirement contributions

are made.

DEDUCTION: Oxford Learners Dictionary defined “Deduction” as the

process of taking an amount of money away from a total, the

amount that is taken away is deducted from a pay for Tax,

Pension Contributions, and Tax Deduction.

TAXES: The taxes consist of state dues and federal dues. A

percentage of an employee’s salary goes to state and country.

PAYSLIP: Oxford Advanced Dictionary defined payslip as a piece

of paper pay cheque given to an employee that shows how much

money they have been paid and how much has been taken away for

tax.