An Introduction to Pensions
Okay, so maybe not the most obvious area to look for work experience or a school leaver scheme but trust us, the pensions sector is finance’s best kept secret for students seeking a secure and rewarding career. Not only does a career in pensions boast job security and great benefits, the industry is crying out for a younger workforce and has started implementing fantastic structured apprenticeships, graduate opportunities and more to source and support students savvy enough to look for a profession a little off the beaten track.
A pension is a long term investment that builds a regular income for you to receive when you retire. There are many types of pensions, including private, state and occupational (provided by your employer). Pensions and their value are not fixed – they can go up and down depending on where they’re invested.
There are a wide range of career opportunities available in the pensions sector, from clerical to managerial level, with equally wide-ranging responsibilities. You could begin your career in pensions working for a life, pensions and investment company or in an in-house pension department of almost any kind of business. Pensions law has also become an increasingly active area in the last few years – creating more jobs for both pensions lawyers and administrative pensions roles.
Given the small amount of directly-related degrees in pensions, many employers will hire someone on the basis of their personal skills and qualities as much as their commercial awareness. Although business-related degrees are common amongst pensions sector professionals, the workforce is made up of a very dynamic range of backgrounds.
A career in pensions requires both high levels of numeracy and communication skills – as well as the enthusiasm and drive needed to gain professional qualifications and succeed in a fast moving market.
Pensions is a growing industry that needs talented people to devise solutions to the new and complex challenges of modern society. Working in any sector of the pensions marketplace offers a solid career in an industry that will always be valid. At entry level, comprehensive training provides a structured path for career development and ongoing professional qualifications. Many pensions firms also provide full support in relation to training costs, mentoring and time off for study.