It’s time to make pensions digital (PensionSync) It’s time to make pensions digital Solve your payroll team’s auto enrolment headache make p sion digital Solve your payroll tea ’s auto enrol ent headache It’s time to make ensions digital Solve your payroll team’s auto enrolment headache ’ t p ’
For example, logging into Nest to process contributions for a particular client requires at least 10 steps just to navigate the website: For example, logging into Nest to process contributions for a particular client requires at least ten steps just to navigate the website: For example, logging into Nest to process contributions for a particular cli t re ir s t l ast 10 steps just to navigate the website: r l , l i i t t t r tri ti f r particular lient requires at least 10 t j t t navigate the website:
Dan Donovan Head of Customer Experience, PensionSync Dan Donovan Head of Customer Experience, PensionSync Dan D novan Head of Customer Experience, PensionSync Dan c st er experience, Don ,
For example, logging into Nest to process contributions for a pa client requir s at least 10 steps just to navigate the website:
Processing contributions manually with Nest Processing contributions manually with Nest r i tri ti ll it t
Processing contributions manually with Nest
1. Enter your username/password per client 1. Enter your username/password per client 2. Select the employer from your list of clients per client 2. Select the employer from your list of clients per client . l t l r from y r li t f li ts . l t l r li t f li t . r pa s ord per client r r li t r li t r li t . r
1. Enter your username/password per client
10 million members. £20 billion invested. In just 10 years since the UK introduced pensions auto enrolment, the government’s flagship pension master trust - Nest - has racked up some staggering numbers. And that’s just the tip of the iceberg - by 2030, Nest predicts that it will be managing £100 billion in members’ funds. With complex legislation and fines for non-compliance, it is no surprise that employers in their droves have asked their accountant, bookkeeper or payroll bureau to take on the burden of administering their workplace pensions. This has created an enormous extra workload for already busy payroll professionals. With co plex legislation and fines for non-compliance, it’s no surprise that e ployers in their droves have asked their accountant, bookkeeper or payroll bureau to take on the burden of administering their workplace pensions. This has created an enormous extra orkload for already busy payroll professionals. With complex legislation and fines for non-compliance, it is no surprise that employers in their droves have asked their accountant, bookkeeper or payroll bureau to take on the burden of administering their workplace pensions. This has created an enormous extra workload for already busy payroll professionals. With complex legislation and fines for non-compliance, it is no surprise that employers in their droves have ask t ir t t, r r r ll ureau to tak t r f i i t ri t ir r l i . i r t r xtra workload for already busy payroll professionals. What is surprising, perhaps, is that there is still no standard process for workplace pensions. Nest has its own unique data standards. Each of the other large master trusts - The People’s Pension, Smart Pension and NOW:Pensions - uses a different dataset to the other. Traditional pension providers such as Aviva and Legal & General all require different files again. A mid-sized payroll bureau may find that it spends several days a month on manually producing, preparing and uploading a wide range of pension files to a wide range of pension websites. This has been a costly drain on resources for teams stretched to breaking point by various other challenges including, most recently, the Coronavirus Job Retention Scheme - and has even driven some long-term payrollers to leave the profession. mid-siz d a ro l bur a may find that it spends several days a month on manually producing, preparing and uploading a wide range of pension fil to multiple pension websites. This has been a costly drain on res urces for team st etched to breaking point by various other challenges including, most recently, h coronavirus job retention scheme - and has ve riven some long-term payroll rs to leave the profession. A mid-sized payroll bureau may find that it spends several days a month on manually producing, prep ring and uploadi g a wide range of pe sion files to a wide range of pension websites. This has been a costly drai on r ources for teams stretched o breaking point by various ther ch llenges incl ding, most r cently, t C ronavirus Job Retention Sch m - a d has even driven som lo g-term payroll rs to leave the pr fession. t on manually producing, preparing and uploading a wide range of pension files to a wide range of pensio websites. This has been a costly rain on resources for teams stretched to breaking point by various other challenges i l i , t r tl , t r ir Job Ret ti eme - and has ri l -t r r ll r t l t r f i n. 10 million members. 20 billion invested. In just ten years since the UK introduced pensions automatic enrolment (AE), the government’s flagship pension master trust - Nest - has racked up some staggering numbers. And that’s just the tip of the iceberg - by 2030, Nest predicts that it will be managing 100 billion in members’ funds. 10 million members. £20 billion invested. In just 10 years since the UK introduced pensions auto enrolment, the government’s flagship pension master trust - Nest - has racked up some staggering numbers. And that’s just the tip of the iceberg - by 2030, Nest predicts that it will be managing £100 billion in members’ funds. illi r . illi i t . I j t r i t introduced pensions auto enrol t, t r t’ i i t r tr t - t - r t ri r . t t’ j t t ti f t i r - , t r i t t t it ill i £100 billion in members’ funds. t is s rpri i g, rh p , i t t t r ’s still What is surprising, perhaps, is that there is still no standard process for workplace pensions. Nest has its own unique data standards. Each of the other large master trusts - The People’s P nsion, Smart Pension and NOW:Pensions - uses a different dataset to the other. Tr ditional pension provid rs such as Aviv and Legal & G neral all require differe t fil s again. rk l f th other large master trusts - The People’s Pension, Smart Pension and NOW:Pen i - diff r t dataset t the other. Traditional pension providers such as Aviva and Legal & General all require different files again. i . st it uniqu data sta r . t i surprising, perhaps, is that th r i till t r ro f r r l i . t it i t t r . f t t r l r t r tr t - l ’ i , rt i : i - i r t
10 million members. £20 billion invested. In just 10 years since the UK introduced pensions auto en olment, the government’s flagship pension mast r trus - Nest - has racked up some staggering numbers. And that’s just the tip of the iceberg - by 2030, Nest predicts that it will be managing £100 billion in members’ fu ds.
2. Select the employ r from your list of clients per client
3. Click “Manage Contributions” per client 3. Click “Manage Contributions” per client 3. Click “Manage Cont i uti ” r li nt t i ti r li t
4. Choose a contribution schedule and click “Edit/Pay” per client 4. Choose a contribution schedule and click “Edit/Pay” per client 3. Click “Manage Contributions” per client . n ri ti d l li “E it pay” p r cli t . ri ti l li it r li t
5. Select “Upload a file” per client 5. Select “Upload a file” per client 5. l l a file” r li t l l fi ” r li t
4. Choose a contribution schedule and click “Edit/Pay” per client
6. Click “Choose file” and locate the relevant file per client 6. Click “Choose file” and locate the relevant file per client 5. Select “Upload a fil ” per client . li . li l l t t r l t t r l t l r li t r li t l l t l
7. Click “Upload file” to upload it per client 7. Click “Upload file” to upload it per client . li . li l l t l t l it r li t r li t l l it
6. Click “Choose file” and locate the relevant file per client
8. Click “Process this file” to confirm you want to process it per client 8. Click “Process this file” to confirm you want to process it per client t i l t r t i l t r ant to process it per client 9. Check for errors (edit & repeat steps 5-9 until accepted) per client 9. Check for errors (edit & repeat steps 5-9 until accepted) per client it and repeat steps 5-9 until accepted) per client 10. Click “Yes, I want to process the file” per client 10. Click “Yes, I want to process the file” per client . li , I t t pr s t le” per lie t . li , I t t r t l r li t 7. Click “Upload file” to upload it t t - til r r it r r cli nt . li . li t to r ce it r cli nt . . te ) r li t
t nd r r cess f r With complex legislation and fines for non-compliance, it is no surprise that employers in their droves have asked their account nt, bookkeeper or payroll bureau to take on the burden of administering their workplace pensions. This has created an enormous ex ra workl ad for already busy payroll profes ionals.
8. Click “Process this file” to confirm you want to process it per c
9. Check for rr rs (edit & repeat steps 5-9 until accepted) per cl
Bulk processing through PensionSync Bulk processing through PensionSync Bulk processing through PensionSync
10. Click “Yes, I want to proces the file” per client l t f r ll li ts
1. All files uploaded in one simple step for all clients 1. All files uploaded in one simple step for all clients . ll l l i i
Each pension provider has their own version of this process, and they are all different to each other. Each pension provider has their own version of this process, and they’re all different to each ther. Each pension provider has their own version of this process, and they are ll i r t t other. PensionSync removes all the manual steps, and replaces them with a simple, standard process which can be used for all your pension clients across multiple pe sion providers. Pensions should run seamlessly alongside your payroll software AE has made pension processing an integral part of your payroll service, so it’s l gical that your payroll software sh uld do the heavy lifting. But not all payroll software products are equal in how they communicate information to the various pension providers. Pensions should run seamlessly alongside your payroll software Auto enrolment has made pension processing an integral part of your payroll servic , so it is logical that your payroll softwar should d the heavy lifting. But not all payroll software roducts are equal in how they communicate information to the various pension providers. i s should run seamlessly alongside your payroll software t r l t i r i i t r l rt f ur r ll r i , it i l i l t t r ll r l t li i . t ll r ll r r t r l i t i t i f r ti t t ri i r i r . PensionSync removes all of the manual steps, and replaces them with a simple, standard process which can be used for all your pension clients across multiple pension providers. Pensions should run seamlessly alongside your payroll software Auto enrolment has made pension processing an integral part of your payroll service, so it is logical that your payroll software should do the heavy lifting. But not all payroll software products are equal in how they communicate information to the various pension providers. Some payroll products provide only a standard pension report. Some expect the payroll users to create their own custom CSV files. Some provide a range of preset formats. Fortunately, PensionSync accepts files from any payroll software, and converts and delivers them seamlessly. With bulk processing across multiple pension providers, this standardises and streamlines your pension process, even if your particular software only produces the bare minimum data. Some payroll products provide only a standard pension report. Some expect the payroll users to create their own custom CSV files. Some provide a range of preset formats. Fortunately, PensionSync accepts files from any payroll software, and converts and delivers them seamlessly. With bulk processing across multiple pension providers, this standardises and streamlines your pension process, even if your software only produces the bare minimum data. Some payroll products provide only a standard pension report. Some expect the payroll users to create their own custom CSV files. Some provide a range of preset formats. Fortunately, PensionSync accepts files from any payroll software, and converts and delivers them seamlessly. With bulk processing across multiple pension providers, this standardises and streamlines your pension process, even if your software only produces the bare minimum data. PensionSync can be connected to your payroll software using API technology or you can drag and drop your standard pension reports directly into our easy-to-use PensionSync Dashboard - either way, you can say goodbye to laborious manual pension processing. PensionSync is the UK’s only one-stop shop for payroll-to-pension administration, working alongside your payroll software to provide a streamlined pension process designed with busy payroll professionals in mind. PensionSync can be connected to your payroll software using API technology or you can drag and drop your standard pension reports directly into our easy-to-use PensionSync Dashboard - either way, you can say goodbye to laborious manual pension processing. PensionSync can be connected to your payroll software using API technology or you can drag and drop your standard pension reports directly into our easy-to-use PensionSync Dashboard - either way, you can say goodbye to laborious manual pension processing. PensionSync can be connected to yo r payroll software using API t l r rag and drop your standard pension reports ir tl i t r y-to-use PensionSync Dashboard - either way, you can t l ori l i r i . PensionSync is the UK’s only one-stop shop for payroll-to-pension administration. Working alongside your payroll software to provide a streamlined pension process, which was designed with busy payroll professionals in mind. PensionSync is the UK’s only one-stop shop for payroll-to-pension administration, working alongside your payroll software to provide a streamlined pension process designed with busy payroll professionals in mind. PensionSync is the UK’s only one-stop shop for payroll-to-pension i i tr ti , r i lo i r r ll r t rovide a tr li i r i it r ll r f i l i i . PensionSync can be connected to your r of preset f r t . r ll l r essing acros lti l i tr li r i r , if r r l r t bare minimum data. Each pension provider has their own version of this pr are all different t each other. Pensi ll of the manual steps, and replaces them with a simple, sta da d process which can be u ed for all your pen ion clients across multiple pension providers. r r i ll f t l t , r l t it imple, standard r ce 1. All files uploaded in one simple step for all clients Bulk processing through PensionSync lti l r ll r t t
It is time to make pensions digital. This means removing the current assortment of labour-intensive manual processes and replacing them with a standard, efficient flow, managed through a single interface. It’ e t make pensions digit l. Thi means removing the curre t s t ent of labour-i tensi e ma ual proces a d r placin t standard, efficient flow, managed through a single interface. It is time to make pensions digital. This means removing the current a sortment of labour-intensive manual proce s s and replacing them with a standard, efficient flow, managed through a ingle interface. A mid-sized payroll bureau may find that it spends several days a month on manually producing, preparing and uploading a wide range of pension files to a wide range of pension websites. This has been a costly drain on re urces for team stretched to br king p i t by various other challenges including, most recently, the Coronaviru Job Retent on Scheme - and has even driven some long-term payrollers to l ave the profession. ith a What is surprising, perhaps, is that there is still no standard process for w rkplace pensions. Nest has its own unique data standards. Each of the other large master trusts - The People’s Pension, Smart Pension and NOW:P nsions - us s a differen dataset to the other. Tr ditional pension providers such as Aviva and Legal & General all require different files again. t s t to t t r. r iti l i r i r i l r l ll r ir ifferent files again. i - i r ll r t t it r l All your pension clients should be managed through a single online portal Aside from the tasks themselves, the most time consuming thing about processing your clients’ pensions is the constant logging in and out of umpteen different pension websites and navigating to where you need to get to. Aside from the tasks themselves, the most time consuming thing about processing your clients’ pensions is the constant logging in and out of umpteen different pension websites and navigating to where you need to get to. Asid from the tasks themselves, the most time consuming thing about processing your clients’ pensions is the constant logging in and out of umpteen different pension websites and navigating to where you need to get to. Common errors fixes can also be automated. The most common example is pay period dates - payroll might be based on tax periods and the pension scheme based on calendar months, for example. PensionSync simply matches th p y peri ds up for you, re oving the need to make manual adjustments to your file, or to make time-consuming changes to your clients’ pension schemes. It is time to make pensions digital. This means removing the current assortment of labour-intensive manual processes and replacing them with a standard, efficient flow, managed through a single int rface. Simple, repetitive tasks should be automated Enrolments. Leavers. Contributions. Payment approval. These tasks need to be completed each pay period and this quickly adds up to a significant time-drain for b sy payr ll teams. With PensionSync technology each of these steps can be automated so that no manual processing is required. Simple, repetitive tasks should be automated Enrolments. Leavers. Contributions. Payment approval. These tasks need to be completed each pay period and this quickly adds up to a significant time-drain for busy payroll teams. With PensionSync technology each of these steps can be automated so that no manual processing is required. Common errors fixes can also be automated. The most common example is pay period dates - payroll might be based on tax periods and the pension scheme based on calendar months, for example. PensionSync simply matches the pay periods up for you, removing the need to make manual adjustments to your file, or to make time-consuming changes to your clients’ pension schemes. Co on errors fixes can also be automated. The most common example is pay period dates - payroll might be based on tax periods and the pension sc e e based on calendar onths, for example. PensionSync si ply matches the pay periods up for you, removing the need to make manual adjust ents to your file, or to make time-consuming changes to your clients’ pension schemes. Simple, repetitive tasks should be automated nrol ts. Le r . ontri tio . t r l. t s e to be co pleted eac pay period and this quickly adds up to a significant ti e-dr i for busy payroll tea s. With PensionSy c tec n lo , eac of t s st c auto ated so no manual processing is required. All your pension clients should be managed through a single online portal All your pension clients should be managed through a single online portal l ndar months, for example. Pensi nSync simply atches the pay periods up f r you, removing the need to make manual j t t to your file, or to make time- i t r cli nts’ p n ion sch mes. ll our pension clients should be managed through a single online portal i fr t t t l , t t ti i t i ut processing r lients’ pe sions is the constant logging in and t f t i er t i it i ti t r t t t . Simple, repetitive tasks should be automated Enrolments. Leavers. Contributi ns. P yment pproval. These tasks need to be completed each pay period and this quickly adds up to a significant time-drain for busy payroll teams. With PensionSync technology each of these steps can be automated so that no manual processing is required. Common errors fixes can also be automated. The most common example is pay period dates - payroll might be based on tax periods and the pension scheme based on calendar months, for example. PensionSync simply matches the pay periods up for you, removing the need to make manual adjustments to your file, or to make time-consuming changes to your clients’ pension schemes. i l , titi t l t t r l t . ers. Contri ti . t a r val. These tasks need to be completed ach pay peri d an t i i l t i i t tim -drain for busy payroll t . it i t l f th se steps can be automated o t t l r i i r ir . rr r l t t . The os common example i eriod date - r ll i t t ri ds and t e p sion schem All your pension clients should be managed through a single online portal Aside from the tasks themselves, the most time consuming thing about processing your clients’ pensions is the constant logging in and out of It i ti t i i it l. i r i t rr t rt t f l r- t i l r r l i t it t r , i t , t r i l i t rf . cr s
Each pension provid r has their wn v rsion f this process, and all different to each other. i f r ll r si li i r i r .
PensionSync removes all of the manual steps, and replaces them simple, standard process which can be used for all your pension across multiple pension providers. Pensions should run s amlessly alongside your payroll so Auto enrolment has made pension processing an integral part o payroll service, so it is logical that your payroll software should d heavy lifting. But not all payroll softwar products are equal in ho communicate information to the various pension providers. t r i l standard pension report. Some r ll r t r t t ir own custom CSV files. So r i rt t l , i t l fr re, and converts and delivers the le l . it r i r , t i t r i
Som payroll products pr vide only a standard pension report. S expect the payroll users to create their own custom CSV files. So range of pr set f rmats. Fortun tely, PensionSync accepts files any payroll software, and conve ts and delivers them seamlessly bulk pr cessing across multiple pension providers, this standard streamlines yo r pen i roce s, even if your software only pro bare minimum data. roll software using A technology or you can drag and drop your standard pension rep directly into o r e sy-to-use PensionSync Dashboard - either wa say goodbye to laborious manual pension processing. PensionSync is the UK’s only one-stop shop for payroll-to-pensi administration, working alongside your payroll software to provid streamlined pension process designed with busy payroll profess mind.
Find out more by contacting our team of experts: hello@pensionsync.com Find out more by contacting our team of experts: hello@pensionsync.com Find out more by contacting our team of experts: hello@pensionsync.com i t r t ti r t f xperts: hello@pensionsync.com
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CIPP SOFTWARE DIRECTORY 2022
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