
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
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A single platform for employers and pension fund interactions
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Automatic identification and processing of all starters, leavers, salary and member data changes
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Secure straight-through processing to your pension fund
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Automated employer 'on-boarding' process
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Quick synchronisation of employer payroll and pension fund data
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Automated processing reminders for employers
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Intuitive dashboard and complementary suite of employer-facing reports
Benefits
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Reduce the risk of data protection breaches
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Identify potential escalations early and mitigate risks
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Improve reliability of valuations and scheme accounting
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Reduce cost and complexity with a simplified servicing model
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Address Pension Reform and your employer obligations to schemes
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Ensure employers meet their duties in supplying data for HMRC Annual Allowance checks