Pension scheme managers are responsible for ensuring that pension schemes operate effectively and sustainably. Their main function is to manage a pension fund - a large pot of money paid in by companies and individuals over many years to provide benefits in retirement.
Pension scheme managers may coordinate schemes that are managed by a company/employer, a benefits consultancy, a public sector pensions provider or an insurance company. They may also be involved with defining the strategic development of schemes as well as overseeing the day-to-day management of pension funds. Developing new schemes or managing related funds may also be a feature of the work.
Pensions management is an increasingly important area of work due to the shift in government policy away from dependence on the state pension as the main provider of retirement income.