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Pension Scheme Manager

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  2. Pension Scheme Manager

Pension Scheme Manager Job Description

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.

Pension Scheme Manager Duties/Functions/Responsibilities

  • developing pensions policies and pension and benefits packages;
  • reviewing, discussing and agreeing fund strategy and structure with the company board, investment managers and other advisers;
  • managing the relationship between the employer (primarily responsible to shareholders) and trustees (representatives of scheme members);
  • meeting with and encouraging communication between actuaries, fund managers, solicitors and consultants;
  • advising the company board on new and emerging financial issues;
  • raising company-wide awareness of pensions-related matters;
  • ensuring that schemes operate effectively and meet performance, quality and customer care targets as well as complying with industry standards;
  • monitoring changes in the legal situation for pensions providers and developments in pension provision in order to ensure the optimum performance of the fund;
  • supervising the overall administration of pension schemes;
  • calculating the performance and value of funds;
  • providing update reports to trustees and pensions managers;
  • providing regular updates to scheme members;
  • developing communication strategies to promote the benefits of pension schemes;
  • contributing to annual and other financial reports;
  • improving services in response to member feedback.

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