Legal, finance and accounting

Senior Pensions Administrator

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Provide in-depth pensions expertise and support to junior team members when administering pension schemes or plans

Summary

This occupation is found in organisations of all shapes and sizes that operate or oversee pension schemes or plans.

The broad purpose of the occupation is to provide in-depth pensions expertise and support to junior team members when administering pension schemes or plans. Senior pensions administrators play a critical role in ensuring that the day-to-day operation of pension schemes or plans is carried out with the necessary rigour and in compliance with the specific rules of each plan. They are likely to be involved in supporting junior administrators in handling complex technical queries, calculations and communications. They process complex members’ benefits based on their entitlements under the rules of the pension scheme or plan and applicable regulations. They ensure that regulatory requirements are adhered to and risks escalated. They use their interpretation of scheme or plan documentation, regulations and independent judgement to make key decisions in pensions administration activities to achieve a regulatory compliant outcome and high levels of customer service. They undertake checks for reasonableness in pensions calculations and outcomes

In their daily work, an employee in this occupation interacts with multi-grade teams and will typically work under supervision by a senior leader. They will be responsible for managing their own workloads and will manage the work of others on complex subject matters. Senior pensions administrators will often engage in training, mentoring and coaching junior staff in their areas of expertise. They may also be a subject matter expert within their team or wider areas and provide expert advice and updates on key changes.

An employee in this occupation will be responsible for delivery of complex or non-standard pension administrative tasks to the required quality standards as set out by the organisation. They undertake technical administration and specialised administration processes. The senior pensions administrator also undertakes financial tasks. These may include quality reviews and assurance of key pension records such as scheme cash books, bank reconciliations and cash-flow forecasts. They ensure that customers receive accurate data on their pension position by reviewing complex pension data and drafting Administration Reports for clients. As part of providing excellent customer service the senior pensions administrator ensures that member records are maintained and updated within their team. They respond to complex, multi-aspect pension scheme, or plan specific enquiries from members or plan holders. This could include addressing disagreements arising from fund valuation requests and quality assuring pension data on investment options. They will assist junior colleagues in clarifying the benefits payable under the pension scheme or plan where there are complex matters. They interpret the rules and suggest solutions to problems arising with pension schemes or plans data and benefits payable.

Typical job titles include

Knowledge, skills and behaviours (KSBs)

• Knowledge
• Skills
• Behaviours