The former manager of Cromwell Press in Trowbridge has changed his plea to admit false accounting.
Andrew Hemmings accepted he had falsified invoices from another company on two occasions as he took money from his pension fund.
The 56-year-old had been due to face trial by jury later this year having pleaded not guilty to the allegations when he appeared at Swindon Crown Court in April.
But the case was brought back before a judge on Monday when he changed his pleas to guilty.
He accepts drawing up two bogus invoices totalling £81,983.18p so he could use the money for his own purposes.
Hemmings, of Downs View, Bradford on Avon, admitted he created fake invoices from Ken Biggs Construction Ltd in April 2005 and March 2006.
Jason Taylor, defending, said it had been the practise of the three directors to take money from the pension pot to 'use for personal purposes'.
He said the wrongdoing was the placing of a wrong recipient on the paperwork so it was 'almost a technical offence'.
Mr Taylor asked the court to consider passing sentence on his client without a report but Judge Douglas Field declined saying "I do not want to be bounced into sentence."
He adjourned the case to Friday, August 30 for a pre-sentence report and released the defendant on bail until then.
Hemmings worked at the printing firm in White Horse Business Park, which went into administration in October 2010 following months of uncertainty.
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