Processing pension contributions is often a time-consuming, onerous and fragmented task. Each step is open to omission or error, especially where spreadsheets are used. Multiple payrolls and sites need to be consolidated, while large companies struggle under the sheer volume of employees joining, leaving and changing their contributions.

On arrival at the pension administrator, reconciliation enquiries can delay investment into the pension fund by days, weeks or even months impacting compliance, transparency and returns.

Designed specifically for pensions contributions, and based on the CashFac cash management system, A2Pay is a cost-efficient solution for an employer that cuts the lead time to investment for pension contributions.

A2Pay interfaces with payroll and pension administration systems to create a bridge between the two organisations which eliminates omissions and errors that can delay investment. The powerful workflow within A2Pay enables an organisation to specify the processes applied to pensions contributions and in doing so ensure compliance with regulation and financial control standards as well as supporting best practices and monitor standards as part of service level agreements with their pension administrator.

A2Pay consolidates and delivers contribution analysis directly to the administrator, eliminating the use of file transfer methods, emails or post and validates the contributions to ensure that the payment matches the amounts expected by the pension administrator.

Accessed through a standard web browser, A2Pay is easy to use, simple to understand and provides greater visibility and financial control. From a management point of view, it provides a regime of financial control including verifiable payments, online authorisation, reconciliation and audit trails.

The accuracy, speed and straight-through through processing (STP) of A2Pay enables same-day investment of pension contributions.

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