Every registered pension scheme must have an administrator. They ensure the scheme meets legal requirements, calculate contributions levels (how much people need to pay in), benefits and payments, write reports and draft letters to members.
Keeping an up to date knowledge of pensions and tax laws are also an important part of the role.
In pensions administration you will need:
- A high level of numeracy
- Good customer service skills
- Good computer skills
- Meticulous record keeping
- Attention to detail.
Routes into pensions administration
It is possible to enter the profession without a degree after completing A levels or a vocational course, although increasingly candidates will be degree educated. Apprenticeships are another possible route which is becoming increasingly popular.
Some pensions management trainee schemes are available with larger companies, where you will receive significant on-the-job training, and pass professional qualifications with the Pensions Management Institute.