Pension Administrator

Salary Description:
£Competitive + Benefits
Location Description:
London
Job Role:
Pensions Administrator
Employment Type:
Full-time
Contract Type:
Permanent
Application Deadline:
Unspecified
Posted:
30th January 2024
Recruiter:
Barnett Waddingham
Job Ref:

With over 1600 people across 9 UK offices, we are proud to be a leading independent UK consultancy at the forefront of risk, pensions, investment and insurance. Each individual delivers on our shared values and our commitment to ensuring the highest levels of trust, integrity and quality. 

We are seeking a Pension Administrator for our London office in London Wall (EC2Y 5AU - hybrid working from office 2 days per week) on a full-time, permanent basis. 

Established in 1993, the Pension Administration Business Area provides a broad range of services to trustees of UK occupational pension schemes such as DB, DC, CARE and cash balance. These services include:-

  • Benefit administration
  • Pensioner payroll
  • Administration consulting services
  • Scheme governance and trustee secretarial
  • Bespoke one off projects
  • Cash handling and preparing draft accounts
  • PPF assessment administration services
  • Data audits and data cleansing
  • Specialist roles

Responsibilities

A team leader manages each team and work is carried out in accordance with the Pension Administration Practice Area’s control environment procedures and Customer Care ethos which are in place to ensure accuracy and timeliness of the services for clients.

  • Prepare manual and computer generated benefit calculations and related correspondence
  • Maintain the member database; prepare computer generated benefit calculations and related correspondence
  • Communicate with clients, their members and advisers
  • Carry out and check cash handling transactions, liaising with the bank and investment managers as appropriate
  • Process and check client pensioner payrolls, including calculation of net pay, arranging payments, liaison with tax offices and preparation of year end returns 
  • Liaise with authorities including DWP, HMRC, The Pensions Regulator and the Information Commissioner
  • Read, research and understand documentation relating to each scheme, for example, deeds
  • Check work of other team members, ensuring accuracy and compliance with procedures and legislation, as agreed
  • Assist with project based work as agreed from time to time
  • Be willing to attend client meetings as required
  • Encourage the team to look for efficiency gains 
  • Prioritise workloads and carry out activities in line with agreed service levels
  • Support effective team working Demonstrate an understanding of how the PPF operates and the nature and type of compensation (specific for PPF Administration)
  • Have working knowledge of Shared Workspace (specific for GMP Reconciliation)
  • Demonstrate understanding of Scheme Reconciliation Service and how to use this for the benefit of clients (specific for GMP Reconciliation)
  • Adhere to specific targets, carry out calculations and tasks involved in working on PPF schemes, and respond to the need for a rapid turnaround of work (specific for PPF Administration)
  • Support, implement and maintain Information Security procedures and activities in accordance to Barnett Waddingham’s Information Security Policy, and other Barnett Waddingham accreditations and awards
  • Any other reasonable task as advised from time-to-time
  • Support, Implement and Maintain Information Security procedures and activities in accordance to Barnett Waddingham’s Information Security Policy

The above is intended to describe the general nature and responsibilities of the role and is not intended to be an exhaustive list of all duties or responsibilities of employees in this role

Experience/Qualifications

  • GCSE Grade “5” or “C” in  Maths and English or equivalent  
  • Ideally the Award in Pension Essentials or progress with other relevant PMI qualifications such as CPC (Certificate in Pension Calculations) would be an advantage.  
  • A willingness to make progress towards further professional qualifications would be a benefit; however, proven experience in the role is more desirable than academic achievement.
  • Relevant Financial Services experience or a background in DC or DB pension administration   
  • Payroll experience would also be beneficial in particular roles (desirable, not essential).

Key Deliverables (Objectives)

  • Client satisfaction
  • Keen to develop new skills, enjoys a challenge
  • Willingness to work towards a professional qualification
  • Build established, effective client and team working relationships
  • Develops assertiveness to ensure that timescales are adhered to

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