Headquarters:
Kitchener, ON
Year founded:
1983
Number of employees:
30
Phone:
519 743 9000
Email:
info@penad.ca
Website:
penad.com
LinkedIn:
linkedin.com/company/penad-pension-services-limited
Matthew Price
President and Chief Executive Officer
Marina Yeoman
Vice President, Service Delivery
Anzhela Nochovna
Director, Systems Development
Leadership
Matthew Price is a seasoned executive with nearly 25 years of experience across insurance, financial services, pension and benefits administration, and enterprise technology. His career is defined by a commitment to operational excellence, regulatory integrity, and the modernization of complex administrative systems. Rising through progressively senior roles, he has led large-scale transformation initiatives, strengthened organizational capabilities, and built high-performing teams.
As CEO of Penad, Price brings deep domain expertise and strategic vision to advancing the company’s leadership in secure, reliable benefits administration. Outside his professional responsibilities, he is actively involved in youth football in the Waterloo Region, supporting player development and community engagement with the same dedication that guides his leadership.
President and Chief Executive Officer
Matthew Price
Marina Yeoman is the vice president of service delivery at Penad, bringing over 25 years of experience in insurance, financial services, and technology delivery. Her career is built on a deep understanding of complex administrative environments and a proven ability to lead teams through operational transformation.
Yeoman excels at aligning technology, process, and client expectations to ensure consistent, high-quality service outcomes. Known for her steady leadership and commitment to continuous improvement, she drives service excellence across all client engagements. Her strategic insight and hands-on experience make her a key contributor to Penad’s reputation for dependable, client-focused delivery.
Vice President, Service Delivery
Marina Yeoman
Anzhela Nochovna is the director of the Systems Development Group at Penad, where she leads both data initiatives and the company’s software development team. With strong expertise in data analysis, system planning, and process optimization, she ensures Penad’s platforms remain accurate, reliable, and adaptable.
Known for her collaborative and solution-driven approach, Anzhela aligns technical development with business needs, supporting efficient operations and strengthening Penad’s commitment to innovation and service excellence.
Director, Systems Development
Anzhela Nochovna
Beth Waller
Vice President, Strategic Consulting Services
Beth Waller is a seasoned pension operations and consulting leader with more than two decades of experience spanning pension administration, financial services, and technology-enabled service delivery.
She is recognized for driving operational transformation, implementing innovative administration models, and enhancing efficiency across complex, multi-office environments. Bethany’s expertise includes plan interpretation, legislative compliance, system implementation, data integrity, and end-to-end administration strategy.
She excels at building high-performing teams and delivering client-focused solutions that strengthen service quality and regulatory alignment. As Penad’s vice president of Strategic Consulting Services, Bethany partners closely with clients to design scalable, modern administration strategies that elevate outcomes and support their long-term success.
Vice President, Strategic Consulting Services
Beth Waller
Rob Fuller
Head of School (10-12)
Rob Fuller commenced as head of school (Years 10–12) in 2024. He joined Kingswood College from Ivanhoe Girls’ Grammar School, where he was director of curriculum. He is a passionate teacher of politics, history and English and has held roles such as year level coordinator and curriculum leader across the middle and senior years. He is deeply committed to supporting students through their VCE journey and enhancing teacher practice. At Kingswood, Fuller has introduced improved subject selection processes, reimagined the Student Representative Council and strengthened student-centred initiatives that promote resilience, character and meaningful real-world learning experiences.
Head of School (10-12)
Rob Fuller
Tina Flyger
Head of People and Culture
Matthew Westwood-Hill
Chief Information Security Officer
Kathy Pallasis
Manager, Human Resources
Pam Chhabra
Manager – Residential Strata
Tina Flyger commenced as head of people and culture in 2024. With over 15 years of human resources experience, she believes people are the cornerstone of any organisation. She takes a collaborative approach, working closely with executives, managers and teams to shape and deliver effective strategy. She is a dynamic, approachable and highly experienced people and culture leader, with a background spanning both schools and industry. Flyger’s expertise is key to nurturing staff and students, strengthening relationships, and fostering a positive, forward-looking culture that supports the continued growth and success of the Kingswood College community.
Head of People and Culture
Tina Flyger
Matthew Westwood-Hill is a seasoned cyber security leader with over 20 years’ experience in digital forensics, incident response and information security. He has led teams at SBS, CyberCX, and Ernst & Young, managing major incidents and aligning security strategies with business goals.
Westwood-Hill is known for his innovative, risk-reducing solutions and clear communication with executives and regulators. He drives awareness, compliance and resilience through training, policy and strategic planning. A frequent speaker and media contributor, he holds advanced qualifications in cyber security and digital forensics and is a recognised expert witness committed to continuous learning and emerging threat readiness.
Chief Information Security Officer
Matthew Westwood-Hill
Kathy Pallasis, manager, human resources at Frontier Software, leads HR strategy and operations from Melbourne. She oversees policy development, employee relations, and internal communications, working closely with senior leadership and cross-functional teams.
Pallasis is known for her clear, responsive communication and collaborative approach. She manages employee records, supports strategic planning and coordinates workplace logistics. With experience in enterprise software, payroll systems and governance, Pallasis is a trusted resource for internal stakeholders.
She holds a humanities degree, is a member of AHRI, and actively contributes to continuous improvement and inclusive workplace practices through policy and operational leadership.
Manager, Human Resources
Kathy Pallasis
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
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Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Product Manager
Claire Watson
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
“Our long history has shaped a deep understanding of the industry, allowing us to anticipate client needs and design systems that manage complexity with confidence”
Matthew Price,
Penad Pension Services
“Clients value that we pair reliable technology with a collaborative, people-focused approach, building trust, clarity, and shared success over the long term”
Matthew Price,
Penad Pension Services
When a company has spent more than 40 years working through the practical realities of pension and benefits administration, its technology reflects only part of what shapes its success. For Penad Pension Services, much of its strength comes from a partnership model that has supported clients through regulatory change, evolving plan structures, and periods of growth.
“Our long history has shaped a deep understanding of the industry, allowing us to anticipate client needs and design systems that manage complexity with confidence,” explains CEO Matthew Price. “Clients value that we pair reliable technology with a collaborative, people-focused approach, building trust, clarity, and shared success over the long term.”
That philosophy underpins Penad’s identity and its recognition among BPM’s 5-Star Technology Providers for 2025.
Penad describes its culture as one grounded in integrity, innovation, and a firm commitment to partnership. The organization points to a mix of deep administrative experience and current, adaptable technology that gives clients confidence the platform can meet day-to-day needs and handle the technical demands that come with detailed plan rules.
IQumulate invests in education and people, which are vital to attracting new business and talent to the company.
“We have long tenures for several of our key staff, including some in leadership positions, and this sound working knowledge of our business, practices and industry provides great insights and a wealth of experience to offer our clients,” says Bastow. “Our new head of sales, Graeme Gordon, formerly manager for New Zealand, joins us in Australia to drive our sales strategy and lead our team to successful outcomes for our clients and our business. We look forward to great things ahead with Graeme as he continues to be active and present in the New Zealand market as well as building sound working relationships and new connections in Australia.”
Clients can also expect a lot from working with IQumulate.
“Through active engagement with our trusted broker network, IQumulate provides relevant information, education and training content,” says Graeme Gordon, head of sales. “Our clients can expect IQumulate to support their business in several ways, providing an understanding of what premium funding solutions are available and how IQumulate can spread the cost of insurance and help borrowers get the right level of insurance cover to free up their cash flow for other expenses or business growth opportunities. Premium funding is often considered a tool for those who simply cannot afford to pay their premiums in full. While this is certainly a significant driver for many, it is also successfully used by profitable companies who use premium funding to manage their cash flows more wisely or better manage their liquidity.”
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Its technology follows the same partnership-first approach. Penad focuses on configurable tools that apply complex rules accurately, reduce routine work, and fit into client environments without disruption.
Clients want systems that help them meet reporting and compliance obligations, and Penad builds with that in mind. Each update draws on years of hands-on experience, and the roadmap shifts as clients, regulators, and industry partners bring new priorities to the table. The result is a platform shaped by long practice rather than abstract design.
Leadership helps keep that balance intact. Under Price, the platform has continued to grow with a clear view that technology should reinforce the expertise behind each plan. His team includes Marina Yeoman in service delivery, Bethany Waller in strategic consulting, Hannah Jailall in client relationships, and Anzhela Nochovna in systems development. Their roles touch different parts of the client journey and contribute to how Penad responds to operational needs.
Modernization has been a consistent theme over the past two years. Penad has introduced AI tools, expanded system functions, and added integrations that improve accuracy and keep day-to-day work moving. These changes are intended to support analytical and administrative tasks and reduce the time spent on repetitive work. The company looks at value through tangible outcomes such as accuracy gains, faster turnaround, strong integration performance, and the long relationships that have defined much of its history.
Onboarding also follows a guided process. Penad oversees configuration, customization, data migration, training, launch support, and ongoing assistance. The team understands the administrative detail behind each plan and works with clients step by step so the transition is manageable and predictable.
Penad intends to broaden its reach. It is assessing opportunities in new regions, expanding AI capabilities, and building out integrations to support a wider range of administrative needs.
As Price notes, “Penad’s future is one where advanced technology and human expertise work in harmony, empowering organizations to navigate complexity with confidence, and positioning us to lead the next generation of pension and benefits administration across Canada and beyond.”
