To provide in house administration services for the defined benefits section of the RB Pension Fund (the Fund), which will include, providing guidance and information to both members and colleagues and the processing and calculation of transfers out, retirements and deaths, in line with the Fund rules and practices and overriding legislation.
Provide liaison with the third party administration of the defined contribution section of the Fund to ensure members have a seamless experience.
To maintain the administration system (Profund) and records in an auditable, reconcilable state.
- To understand and interpret HMRC limits and apply these to all benefit entitlements.
- Ensure that regulation and legislation changes are identified, analysed and applied as necessary.
- Liaison with the Third Part DC Administrator in respect of DC Section Members taking account of all of the associated procedures.
- To administer all retirement quotations from the provision of the initial figures up to the point of payment. Ensuring the calculations are accurate and all of the appropriate paperwork has been received and accurately completed.
- To provide a full service on transfers out from the initial request for information to processing the instruction to transfer out in a timely and accurate way, ensuring that all of the appropriate paperwork is provided in line with best practice and guidance on avoidance of scams.
- On the death of a member from either the DB or DC section, determine the existence or otherwise of a surviving spouse or dependant. Determine the appropriate entitlements of the potential beneficiary(ies) including working with our third party administrators for data collection and/ or insured benefits to gather and prepare information for the Trustees to ensure that all monies outstanding at the date of death are paid to the appropriate individual
- To assist members in the resolution of queries or problems associated with their entitlements from the Fund and offer sympathetic support and understanding in dealing with a wide range of financial problems raised by members and their dependants.
- To complete the annual processes as requested; such as distribution of DB Annual statements, AVC statements and liaison with the external fulfilment company for bulk mailings, as required, such as the annual newsletter.
- Completion of statistical and other returns required by statutory bodies and surveys.
- To assess the value of benefit entitlements and ensure that they are within permissible HM Revenue & Customs limits in line with the HMRC Registered Pension Schemes Manual.
- To assist the team with projects as they arise, such as GMP rectification and Equalisation.
Specialist Requirements (skills, experience, training)
- Experience of administering defined benefits schemes either from in house or within a third party environment
- Technical knowledge of pension scheme legislation and regulations
- Experience of analysing data
- The ability to be able to communicate effectively with a wide range of people
- Ability to effectively organise and prioritise own work and follow procedures
- Tenacity- to investigate and resolve queries as they arise
- High level of numeracy required for benefit and Revenue limit calculations.
- Knowledge of specialist pensions administration systems (An understanding of the Profund/Propay administration system would be 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.
In Return RB offer very competitive salaries with excellent benefits and the chance to progress your career within a truly global organisation.
RB is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, national origin, disability status, protected veteran status, or any other basis protected by appropriate law. All hiring decisions are made based on merit, competence and business need.