Pensions Team Manager

Salary Description:
Competitive Salary & excellent benefits package (inc car allowance)
Location Description:
Kingston upon Hull
Job Role:
Pension Manager / Director, Pensions Administration Manager, Pensions Administrator, Other
Employment Type:
Full-time
Contract Type:
Permanent
Application Deadline:
Unspecified
Posted:
5th September 2019
Recruiter:
RB Group
Job Ref:

Job Summary

To manage the small team of in house administration to ensure that: 
  • The administration of the DB section of the RB Pension Fund (Fund) is timely, accurate and complies with both the governing documents and changing UK Legislation
  • Processes are fully documented and well governed.
  • Members receive an efficient and effective service from the Pensions Department
  • Provide liaison with the third party administrators of the defined contribution section of the Fund to ensure members have a seamless experience
  • To be responsible for the successful running of the insured arrangements for Life Assurance, Incapacity benefit and private medical insurance.
  • To assist the Pensions and Benefits Manager in Trustee secretarial duties as and when required.
  • To take the lead on projects as required.
Main Challenges
  1. Identifying, analysing and understanding the complex regulatory, legal and HM Revenue & Customs structures underpinning pensions administration in the UK to ensure the Trustees and the Company are always compliant.
  2. Liaison with the Third Party DC Administrator in respect of DC Section Members.
  3. Be responsible for the annual processes and smooth running of the insured arrangements

Principle Accountabilities 

  • Manage the in house Pensions administration team including motivation of the team.
  • To provide technical advice and guidance to the team.
  • To review all calculations performed by other members of the team  for accuracy,  to ensure that they are within the permissible HMRC limits and comply with best practice against pension scams.
  • Ensure the effective and efficient day to day administration of the RB Pension Fund including maintenance and development of good governance
  • Support the Pensions and Benefits Manager in managing the relationships with external advisers ensuring the requisite level of service and value for money.
  • The management of the day  to day operations of the risk benefit arrangements (Life Assurance, Incapacity Benefit and Private Health Insurance).
  • Prepare data for the Fund’s Actuary as required, for regular funding reviews and for the full valuation every 3 years. Resolve any queries arising from the data.
  • Reviewing pension related data provided by payroll to ensure pension contributions are being processed at the correct level, and that the third party DC administrator is provided with the data needed to process contributions and maintain records. Compiling data for payroll of any correction or adjustments required and reviewing the details of the member requests for changes to their own contributions.
  • Completion of statistical and other returns required by statutory bodies and others e.g. data for the Office for National Statistics, HMRC, the Pensions Regulator etc for example the Scheme Annual Return.
  • Provide the company accountants and auditors with information as required for the Company accounts and audit process. 
  • Ensure that appropriate Finance Records/ Accounts are maintained in respect of the Pension Fund.
  • Monitoring of the monthly cashflow requirements
  • Prepare the Trustees elements of the Fund Report and Accounts and manage the audit process within the statutory time frames.
  • Support the Pensions and Benefits manager to produce and distribute the Annual Newsletters.
  • Support and advise HR, Finance and colleagues as appropriate in respect of relevant aspects of pension provision.
  • Preparation of the Trustees Administration report.
  • Support the Pensions and Benefits Manager  in relation to strategic pension and benefits projects.
Specialist Requirements (skills, experience, training)

  • Relevant professional qualification desired ( APMI or working towards)
  • Significant previous pensions experience gained in a pensions administration management position working in both a Trust Based DB and DC environment, either in house or with a third party.
  • Excellent analytical and numeracy skills.
  • Well developed organisational and planning skills
  • Excellent  communication and interpersonal skills
  • A proven ability to motivate and lead a team
  • Self disciplined
  • The ability to retain and pass on complex information
  • An understanding of the Profund/Propay administration system preferable

As part of our small, in-house pensions administration team, you'll provide administration services for the DB section of the RB Pension Fund, providing guidance and information to both members and colleagues, processing and calculation of transfers out, retirements etc, with great customer service at the forefront of everything you do. The pace and breadth of the role mean that every day will throw something new at you. And you’ll respond effectively every time. 

You’ll succeed because… 

…you’re flexible, organised and comfortable dealing with competing priorities. Your pensions administration experience is underpinned by your numerical and analytical skills, you thrive in a fast-moving environment while maintaining your attention to detail.

You’ll love it because… 

…you’ll get to make an impact like never before. The products you help us get out there will make people’s lives better. Our iconic brands will provide an incredible platform for you. And our dynamic, ownership-driven culture will help bring the very best out of you, every day.

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