After months of hard work from our brand new payroll team at Wiltshire Pension Fund, we are delighted to announce the launch of our integrated payroll system!
Part of our vision as a Fund is ensuring correct pensions are paid timely, through the service being administered effectively and cost efficiently.
Bringing our payroll function in house will streamline systems and improve efficiency, providing the Fund with robust processes, controls and risk management.
We know how important it is to get this right, so we are launching it in two stages over the coming months. We are pleased to announce that we have successfully gone live with the first stage, paying all new pensioners and making any payments from the Fund.
This payroll and payments system is fully integrated with our administration system, ensuring that we have one single, reliable data source for greater speed and accuracy, as well as a complete and compliant audit of all payments. We are also fully integrated with HMRC's Real Time Information (RTI) reporting, supporting all message types and automating response retrieval, tax code updates, and PAYE tax payovers.
The second stage will be in summer 2024 when we will migrate all c19,000 existing pensioners to the new system. As we move closer to the migration we will contact all those affected, guiding them through the transition, and showing them how to access their payslips through our online members portal My Wiltshire Pension.
Bringing this system in house also ensures a smoother transition when our members become pensioners, as they will remain on our online pensions portal, My Wiltshire Pension, to access their payslips and other financial documentation.
This has been a great team effort in achieving this milestone, well done to all those involved!
Geoff Stephens, Payroll Manager.