Pensions managers organise the effective running and development of pension schemes. They oversee the recruitment, training and performance of their staff, and maintain efficient administrative procedures.
Their role is likely to include:
Pensions managers are likely to liaise with actuaries, solicitors, auditors, investment consultants and trustees. They usually have overall responsibility for any communications with scheme members and contribute to the marketing plan. The Financial Services Authority (FSA) regulates the pensions industry, and managers will need to ensure their staff and products meet FSA requirements. Contact the FSA for further details.
Pensions managers usually work 9am to 5pm, Monday to Friday, but there may be some variation when attending meetings.
The work is largely office-based, although visits to scheme members in offices, factories and other types of business will necessitate some travel. There may be occasional periods away from home.
To be a pensions manager you should:
Pensions managers work in any large company or organisation which runs its own pension scheme. Many work for an investment manager or insurance company which runs the pensions on behalf of other companies or individuals. For more information about opportunities and skills shortages within the industry, contact the Financial Services Skills Council.
Experienced pensions managers can move on to manage the pension department of a larger organisation, or move in to another area such as insurance or general management; some choose to become self-employed pensions consultants.
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