9th August 2023
When deciding on a career path, it is widely recognised that certain factors must be taken into account. The significance of these factors may fluctuate over time, depending on the economy and the demands of contemporary life, and each individual may have their own unique set of criteria. Nevertheless, in general, most of these considerations can be categorised under the same theme.
This begs the question… why work in the Pensions Profession?
The upcoming list is not comprehensive and does not prioritise any particular item. Nonetheless, it aims to assist you in evaluating your potential in the industry and determining if it meets your criteria.
Work – life balance
The pandemic has brought about a significant shift in working models, which has been positively received by most employees. Companies have come to appreciate the intricacies of life beyond work and have accordingly made adjustments. This has resulted in the adoption of various flexible working arrangements, such as hybrid working (allowing employees to choose the number of days they work from the office), complete remote working, and flexible core hours. These changes are warmly welcomed within the pensions industry.
Job security
The field of pensions is a significant and reliable industry. Due to a growing elderly population, there is a predicted rise in the need for pension services in the future, resulting in a high level of job stability. With the availability of an abundance of information emphasising the significance of financial preparation for retirement, it is reasonable to anticipate an even greater significance for the sector.
Progression
The pensions industry offers great potential for advancing your professional career. With various career paths available, you can expect to see your career trajectory move upward. Additionally, as you progress, there are opportunities for training and development to enhance your skills and knowledge. Many companies in this industry prioritise their employees’ development and encourage them to pursue relevant qualifications like the Pensions Management Institute (PMI). You can be assured that your career growth will be supported.
Eliminate boredom!
Looking for an intellectual challenge? Look no further...
Working in the pensions industry can provide a range of intellectual challenges, depending on your role.
The following list is an example of the kinds of skills you will be using and tasks you could be undertaking: completing complex calculations, making informed decisions, financial reporting, governance, compliance, pension scheme design, tailoring schemes to meet the needs of employers and members.
Technological Innovation
New technologies and digital tools are being developed to improve customer service and enhance operational efficiency. Working in the industry can provide an opportunity to be involved in innovative projects and be at the forefront of industry developments. Keeping up with these developments and applying them effectively to your work can require a strong grasp of technical concepts and an ability to adapt to new technologies, but you may be the first to learn about brand new pensions insights!
Final thoughts – why choose a career in pensions?
Overall, working in the pensions industry can provide a rewarding career with a range of benefits. It incorporates a variety of roles and skillsets making it both engaging and stimulating.
If you enjoy rewarding work and like to tackle complex problems whilst making a meaningful impact on people’s lives, then the pension industry is calling your name.
Now that you know why individuals join the pensions profession, find out more about the different routes into this profession by reading the ‘Routes into the Pensions Profession’ article.
About the Author
Christine Brannigan
Director and Managing Consultant
Christine co-founded BranWell Ford in 2002. Presently, she plays a crucial role as a recruiter and valued member of the company. With a strong focus on the pension administration market at all levels, Christine brings a diverse range of expertise to her position.
Over her 20-year tenure at the company, she has assisted numerous TPA clients and played a pivotal role in the growth of BWF, thanks to her astute business mind-set.
Christine attributes her remarkable success to her exceptional instincts and extensive network, through which she effectively aids candidates and clients in achieving their recruitment goals.
