Pensions insight
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arrangement, and vice versa, and so confuse gross and net figures.
It would be good to have a standard handover procedure so that when a client leaves one payroll provider the new provider has instant access to data to be able to process the payroll. The common theme was very much around accuracy and consistency of communications. In her final comment to the roundtable, Jill observed that the “meeting has identified the problems of interfacing between payroll and pension provider of inaccurate data but we have only touched the tip of the iceberg, there is a lot more to explore. Also, though we have concentrated on the smaller employer the problems are happening in the larger organisations too so they not specific to the smaller employer only. It would all need to be looked at.” Success rates and errors ● The table shows how the success rate of data submissions to pensionsync increases month on month, as users improve the quality of data held in payroll software (based on feedback from the pensionsync platform and staff). The data was collected between August 2017 and July 2018, for all data submissions made to pensionsync in month one, and where users continually submitted data each month for the next eleven months. The sample data set comprised of 11,177 pension schemes, submitted by 5,931 users of 13 software providers. ● The chart show the most common errors recorded by pensionsync using data submitted by 291 users of nine software providers for 581 pension schemes. The volume of errors decrease over time as pensionsync interacts with users. (The ‘Contribution amounts’ reflect only the accuracy for two master trusts.) n
Alumni event
CIPP survey Jill Smith MCIPPdip, CIPP policy manager, provided details of a survey the Institute had recently conducted ahead of the roundtable. The CIPP gathered the thoughts, views and experiences of our members and also the wider payroll profession by asking the following questions: ● What problems are you encountering on a day to day basis with the operation and managing of an accurate data flow between payroll and your pension provider? ● Are you experiencing any recurring issues that are due to inaccurate AE data submissions? Does this raise concerns for you, employers and employees? ● If you could create a wish list of improvements to workplace pensions what items would you like? The results of the survey support the statements that AE is cumbersome and a burden due to complexity, too much choice when choosing a pension, and nowhere to go for clear advice. Payrollers would benefit from standardisation in all aspects of admin processes, terminology, communication, and implementation of AE by pension providers. The following are examples of areas for improvement: processing opt outs, reconciling pay periods, successfully uploading accurate contributions to providers. ...common theme was very much around accuracy and consistency of communications
4 DECEMBER 17:30 – 19:30 Arne Street, London
Graduates of the CIPP’s Foundation Degree and Diploma in payroll and pensions are invited to join us for drinks and nibbles to network, share your experiences and knowledge and maintain your CPD.
Invitation only
1 2 3 4 5 6 7 8 9 10 11 12 51 70 77 81 83 84 87 88 89 90 91 97
Months
Success rate %
Errors by type
For more information: Visit: cipp.org.uk Email events@cipp.org.uk Call: 0121 712 1000 Live chat with us
Aug-17 Jan-18 Jul-18
140 120 100
123
73
70
80 60 40 20 0
62
39
32 27
26
18
14
11 12
5 5
4
Period dates
Event date/code Employee mismatch
Duplicate
Contributions amount
cipp.org.uk @CIPP_UK
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Issue 45 | November 2018
| Professional in Payroll, Pensions and Reward |
*correct at time of publication
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