Why
As an employer, you are required to submit data to your pension scheme regularly. Employers that use paper forms incur a significant overhead in terms of administration effort. However, employers who submit data electronically are often capturing information by typing the data into a spreadsheet manually. This increases the risk of errors.
How
i-Connect reduces the cost and risks associated with processing pension data by automating the submission of data to your pension scheme in a single solution.
Data is taken directly from the payroll system, automatically identifying new joiners, opt-outs and leavers and seamlessly generating an extract for submission to your scheme.
All reporting and record-keeping requirements necessary for Pension Reform are managed within a highly secure environment.
i-Connect improves the flow of data from your HR and payroll systems to the pension fund, minimising manual intervention in the process.
Features
-
A single platform for employers and pension fund interactions
-
Automatic identification and processing of all starters, leavers, salary and member data changes
-
Secure straight-through processing to your pension fund
-
Automated employer 'on-boarding' process
-
Quick synchronisation of employer payroll and pension fund data
-
Automated processing reminders for employers
-
Intuitive dashboard and complementary suite of employer-facing reports
Benefits
-
Reduce the risk of data protection breaches
-
Identify potential escalations early and mitigate risks
-
Improve reliability of valuations and scheme accounting
-
Reduce cost and complexity with a simplified servicing model
-
Address Pension Reform and your employer obligations to schemes
-
Ensure employers meet their duties in supplying data for HMRC Annual Allowance checks
