NSIM

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Pension scheme managers coordinate the effective operation of company/employer and insurance company managed pensions schemes.

Typical responsibilities of the job include:

• liaising with employees

• working closely with human resources staff

• recruiting, training and/or supervising a pensions administration team

• developing pension policies and new pension schemes

• making sure that pension schemes are effective and meet agreed quality, performance and customer care standards

• resolving complex or controversial individual pensions claims

• producing marketing material

• making recommendations to clients and board directors

• improving schemes in response to feedback from members

• attending meetings with fund managers, actuaries, solicitors and consultants

• ensuring compliance with current statutory legislation and regulations

• writing annual/financial reports

• managing IT-based pension administration systems.

Qualifications and training required

This career is open to both university graduates and school leavers. If you want to enter directly at trainee pensions manager level, you will find that some employers prefer graduates with degrees in business, finance or law

PMI offers an accredited professional qualification that pension scheme managers are required to complete once in employment. Previous relevant experience is not usually required, although some employers do offer summer vacation work experience placements.

Key skills for pension scheme managers

• Excellent communication skills

• Interpersonal skills

• Organisational skills

• Analytical skills

• Leadership skills

• Numerical skills

• IT skills

Typical employers of pension scheme managers

• Large companies that manage their own pension schemes

• Public sector pension providers

• Life assurance firms

• Consultancies