Seamless pensions payroll for teams and contractors working flexibly
MANCHESTER, UK - 12th November 2020 - Today Quantum Employment Design (QED) leader My Digital and pension technology platform PensionSync have partnered up to help UK contractors and employers more effectively manage their pensions for the era of Quantum Employment.
Even pre-COVID, changes to employment statuses, salaries and entitlements were often captured inaccurately, affecting the pension provision of thousands of workers on permanent and flexible contracts. Now, thousands of workers are moving into Quantum Employment, conducting temporary work, often for multiple employers. With the added complication of furlough ending, making regular pension contributions accurately has become a growing issue.
The new PensionSync and My Digital offering promises:
- Automated pension contribution uploads without manual intervention, eliminating the risk of incorrect submissions
- Pension submission history reconciled in real-time in both My Digital’s and PensionSync’s dashboard
- Single sign-in to both systems to reduce administrative burden and improve security
David Hilton, Head of Strategic Account Management at PensionSync explained: “Even before this age of Quantum Employment, payroll managers have been frustrated by trivial data issues like address formats, erroneous upper / lower casing and trailing spaces, incorrect worker groups and payment sources. Such payroll-to-pension processing errors ultimately lead to increased workload for payments teams. With My Digital, we have now removed the friction from flexible working pensions and, in doing so, enabled the next generation of Quantum workers.”
John Whelan, CEO of My Digital concluded: “As more workers move to Quantum Employment, their long term financial stability should not suffer. Pensions are an integral part of working life, but current manual systems set up for a bygone age are prone to error and woefully inadequate for the new Quantum Workforce. In reimagining pension processes for the Quantum Employment era, PensionSync and MyDigital are improving the financial future of thousands of UK workers.”
PensionSync is a solution to automate the delivery of data between payroll, AE middleware and pension providers. Formed in 2015, by Systemsync Solutions the founders of a highly experienced and fast moving software development consultancy based in Parsons Green, London whose engineering team had been building mobile apps, enterprise apps, software products and APIs for their customers for over 10 years.
In August 2019 the PensionSync technology platform was acquired by KeyPay Ltd with a clear goal to continue with the core PensionSync team to deliver ongoing innovation to the UK payroll and pensions market.
About My Digital
My Digital is a pioneer in Quantum Employment Design and the leading SaaS supplier for tomorrow’s digital employers. Our background in accountancy, tax, human
resources and SaaS software has allowed us to build out the most complete QED
software suite for recruiters, umbrella companies, PEOs, pension providers, insurers
and checking operators.
My Digital’s complete cloud-based products suite for employers comprises of:
- My Digital CRM
- My Digital Onboarding
- My Digital IR35
- My Digital Timesheets
- My Digital Umbrella
- My Digital Payroll
- My Digital Financials
- My Digital PSC
- My Digital Bridge
- My Digital Portal
- My Digital Expenses
- My Digital Reporting
- My Digital App
This press release was distributed by ResponseSource Press Release Wire on behalf of PensionSync in the following categories: Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.