Pindar cuts time to investment by using A2Pay to
handle pension contributions – Case Study
Pindar is a leading print and electronic media
company that offers its 2500 global employees
a Defined Benefit and a Defined Contribution
pension scheme with an AVC facility.
'From labour intensive to a 20 minute task'
Pindar has weekly and monthly payrolls produced from
multiple office locations. They used to spend several days
each month compiling the pension contributions schedule
before sending the data and aggregate payment to their
pension administrator.
The reports from each office and payroll came as separate
spreadsheets. They needed to combine these spreadsheets
into a single contribution schedule for the administrator
which was labour intensive and had a high risk of error.
The use of complicated formulas to prepare the schedule
and the lack of audit functionality within the spreadsheets
meant any mistakes, such as overwriting an employee line
or miscalculating a contribution, were not clearly identified.
To offset the risk of error required more management time
and worry.
The spreadsheets did not highlight new members, so the
contributions were often sent through to the administrator
without the relevant accompanying information, causing
delays in investment.
All of these issues caused queries between Pindar and the
administrator which took time and effort to resolve and
risked delaying the investment of contributions.
Why A2Pay?
In using A2Pay Pindar can automatically combine the
payroll files, reducing the whole process from several days
to 20 minutes.
Integration with their payroll system removes the need for
any human intervention as well as removing the use of
spreadsheets where changes are not tracked.
A2Pay offers Pindar full audit functionality, highlighting
immediately any joiners and leavers and offers management
by exception as changes to contribution amounts, deleted
members and joiners are clearly shown in one place.
Pindar's Company Secretary, David Noakes said,
"A2Pay has greatly improved the efficiency
of our process as integrating into our payroll
system removes the manual effort previously
required. More importantly we have increased
the accuracy of contributions sent due to the up
front validation. It is simple to use and minimal
resource is required to get up and running"
A2Pay's reconciliation, validation and financial control allows
management to sign off payments with confidence, knowing
the contribution schedule is accurate.
Best business practices for the contribution processing are
followed and transparency is provided for the trustee.
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