Pension Administration Consultant

3 weeks ago


Hove, Brighton and Hove, United Kingdom Legal & General Resources Limited Full time
Company Overview

Legal & General Resources Limited is dedicated to managing the retirement benefits of approximately 700,000 institutional clients. Since our establishment in 1987, we have been the UK's premier insurer, consistently providing reliable services in the market.

Our Institutional Retirement division specializes in pension risk transfer (PRT) solutions for both UK and US defined benefit (DB) schemes, alongside reinsurance offerings from our global hub. We collaborate with organizations, DB pension schemes, and their advisors to ensure the security and protection of retirement benefits for scheme members.

Role Overview

We are currently seeking a Transition Consultant to enhance our award-winning Pension Risk Transfer team.

We offer a competitive salary, comprehensive benefits, and the chance to work closely with Employee Benefit Consultants and Trustees of Defined Benefit Pension Schemes. Your role will involve reconciling scheme member data and accurately documenting secured benefits, ensuring all stakeholders have the latest information for the effective administration of schemes.

Key Responsibilities:
  • Evaluate scheme benefits and data to draft legal agreements that facilitate proper administration by Client Services.
  • Ensure all teams within PRT have accurate benefit specifications and data to guarantee correct customer entitlements and accurate scheme funding.
  • Oversee the progress of assigned schemes, conducting regular reviews and ensuring timely responses to customer inquiries.
  • Assist the new business origination team and Transition Managers by providing insights on administration capabilities and conducting site visits to assess data quality prior to transactions.
  • Deliver timely communication and maintain a comprehensive audit trail of all benefit and data items throughout the onboarding process.
  • Keep internal customers and relevant third parties informed of key information impacting their processing to ensure fair treatment of end customers.
  • Provide customers with tailored information to help them understand communications, including any necessary actions or support needed.
Candidate Profile:
  • Possession of a Pension Qualification such as CII or PMI (or equivalent experience).
  • In-depth knowledge of pension regulations for DB schemes, particularly regarding de-risking processes.
  • Strong understanding of benefit structures and administration within Defined Benefit schemes.
  • Ability to manage tight deadlines, prioritize tasks, and escalate issues when necessary.
  • Commitment to delivering accurate and cost-effective services by ensuring first-time accuracy.
  • Awareness of risks faced by the team/business and a proactive approach to risk mitigation.
  • Excellent organizational skills, with project management experience being advantageous.
  • Effective written and verbal communication skills.
  • Customer-focused mindset with the ability to foster and enhance relationships with internal and external stakeholders.
Benefits:
  • Participation in an annual performance-related bonus plan and valuable share schemes.
  • Generous pension contributions.
  • Life assurance coverage.
  • Private medical insurance.
  • A minimum of 25 days holiday, plus public holidays, with additional days after two years of service.
  • Competitive family leave policies.
  • Access to an electric car scheme, allowing employees to hire a new electric vehicle through tax-efficient salary sacrifice.
  • Various discounts on our products and at numerous high street and online retailers.
  • Modern office spaces designed for collaboration and well-being.
Additional Information:

Legal & General is a prominent financial services group and a major global investor, recognized as Britain's Most Admired Company. We are committed to building a better society for the long term by investing in initiatives that enhance the quality of life for everyone.

We foster a welcoming culture that encourages collaboration among individuals from diverse backgrounds and experiences. Our leaders prioritize integrity and care about your future and well-being, providing opportunities for career development and excellence.

We are open to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs.

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