Most of us think that pensions are complicated. One recent survey conducted by the Lancaster University Management School found that 38% of people think pensions are extremely hard to understand, and that can put people off taking them seriously and engaging with them to ensure that they match their ambitions.
Luckily, the public sector benefits from the work of MyCSP which administrates the pensions of over 1.5 million people. Yes, what they do is complex, but they work hard to deliver a clear (and simple) service to employees across a range of departments, organisations, and forms of employment. And it’s all integrated into the payroll. In our recent Insight Guide (To read the Insight Guide please click here) on the benefits of Oracle Payroll we highlighted the need to ensure that as government pursues its Digital First strategy, the administration of payroll needs to be front-and-centre of any kind of digital transformation.
Simply getting the pay of millions of workers right each month and of course, ensuring that their contributions to their pension via MyCSP, must work like clockwork every time and all the time. Moving to Oracle Payroll streamlines the entire payroll process making it more efficient and transparent, but there are special things you need to do to align its features with MyCSP. You can’t just click a button and it works. MyCSP is nothing if not rigorous, and so it takes time and effort and expertise to get it right from day one.
Day one in this case is known as the Cutover Date. Sounds ominous (and it is if it goes wrong!) but Fujitsu’s expertise in helping government get it right is actually something that sets us apart. And it’s something we’re proud of. We’ve successfully delivered our MyCSP solution to SEVEN public sector customers with over 200,000 employees.
What sets us apart? Our approach to configuring the entire system correctly long before that Cutover Date. For those customers where the system had been operation for a long time, many of the payroll staff didn’t realise just how complex the demands of MyCSP are. Why should they? It all works. But leveraging the broad benefits of digital in general, and those of Oracle Payroll in particular, means that most departments need help in getting MyCSP right. Getting it wrong isn’t an option. MyCSP demands rigorous proof that you’re doing it right before they will let the system run.
There are many stages that need to be completed. Setting up the Payroll Statutory Unit and Legal Employer Information, covering the Alpha, Partnership, Classic, and Premium Pension schemes; coping with additional contributions like AVC’s, MPVAC’s, AP, EPA, EEPA and WPS so they’re reported correctly, and administering absence schemes correctly so that people get their statutory sick pay or family leave (inc. shared parental pay and adoption leave), and ensure that Assumed Pensionable Pay is reported correctly.
Oracle Time and Labour has to be set up properly so that pensionable amounts (like Overtime Premia) and Up To Conditioned Hours are reported correctly to MyCSP using standard Oracle configuration which includes Extensible Flexfields. And before that Cutover Date, 68 test scenarios must be run by the implementation team, again to prove it’s all been set up properly.
It sounds epic. Necessarily so. You can’t mess with pensions. You have to get them right. The efficient and transparent administration of each and every worker’s pension is at stake. At Fujitsu, we have the experience and expertise to take each step carefully and in the right order, so that when the Cutover Date arrives no one notices the difference. When you’re thinking about payroll it pays to put pensions and MyCSP at the top of the list of priorities. We’ll ensure you get it right. First time.
To read the Insight Guide please click here