Pensions consultants offer advice on pensions provision to their clients. Clients can range from individuals looking for a private pension to large organisations looking to provide a pensions scheme for their employees.
Typical activities include:
- Reviewing a client’s current pension provision.
- Researching the markets and keeping up to date with regulatory changes.
- Making recommendations about appropriate products.
- Setting up and running pensions schemes on behalf of clients.
- Reviewing performance and keeping clients updated about their pensions and investments.
Successful pensions consultants possess the following:
- Analytical and research skills
- Ease with figures and good general maths skills
- Communication and negotiation skills
- A target driven approach
- Sales and networking skills.
Routes into pensions consultancy
Degrees in business, economics, finance, law and mathematics are all ideal starting points for a career in pensions consultancy, but graduates from a wide range of degrees can succeed if they have good academics and the right characteristics.
The main route to becoming a pensions consultant is generally through a graduate training scheme with large pensions and insurance consultancy firms.
Financial service companies or the public sector can also offer employment opportunities, as well as in-house departments of large firms. You may also be able to work up to pensions consultancy from a role as a pensions administrator. Pensions qualifications from the Pensions Management Institute will be required in order to progress in the role.