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Pensions Administrator Jobs
Pensions administrators oversee the day-to-day management of pension schemes and life insurance policies. A Pension Administration role may involve responding to enquiries, either by phone, in writing, or increasingly, online; updating records, amending personal details, providing statements and processing payments; collecting the necessary paperwork and arranging for the pension or cash sum to be paid, once a claim has been made.
They are not permitted to give any direct advice, but can point people towards other information sources.
An individual working in pensions administration should be organised and efficient, work well in a team, have excellent communication skills and a polite, friendly manner, be confident with numbers and technology and enjoy working with people.
Employers include insurance and life assurance companies, as well as commercial and public sector organisations that manage their own employee pension schemes.
There are also specialist benefits consultancies that manage schemes on behalf of employers. Administrators with experience are currently in high demand.
What do I need to get into pensions administration?
There are no specific qualifications for this role, although some employers ask for at least four GCSEs/S grades (A-C/1-3), or equivalent qualifications. There is no upper age limit for entry. Previous experience of customer service, accountancy or insurance is welcomed.
Training is supplied by each organisation. It is usually a combination of working alongside experienced administrators and studying for professional qualifications. A wide range of qualifications for personal pension scheme administrators is available, offered through several professional bodies. Some administrators may have to pass a professional examination to meet the Financial Services Authority (FSA) standards.
Progression is usually to team leader or supervisor. With additional training, some administrators may move into pensions advice, or into other areas, such as financial advice or consultancy.
Pensions administrators usually work 35 hours a week, from Monday to Friday. Part-time and job share opportunities are common. Salaries range from around £20,000 to £24,000 plus benefits a year.
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