Pensions Administrator

Pensions administrators are responsible for the day-to-day administration of pension and life insurance schemes, making make sure new and existing customers' policies are accurately maintained and serviced.

Their responsibilities can vary, depending on the size and structure of their organisation. Most administrators have a customer services role, dealing with enquiries and carrying out the accompanying administration. This may include calculating pension forecasts, preparing statements, explaining tax relief entitlements and what happens to customers' money if they leave or transfer to a different scheme.

Usually office based, pensions administrators often work Monday to Friday, between 9.00am and 5.30pm. Some work in contact centres, so may cover evening and weekend shifts. Part time, job sharing and permanent and contract work are widely available.

Salaries may range from around £16,000 for new entrants, potentially reaching £40,000 or more a year for operational managers.

A pensions administrator should be:

• customer focused with excellent interpersonal skills
• organised and efficient
• attentive to detail and good at record-keeping
• proficient and confident using computers
• interested in the benefits systems and changing tax laws.

Employers include insurance and life assurance companies, pensions and benefits consultancies, large companies, local and national government departments and other public bodies that manage their own pension schemes. Jobs exist in most towns and cities throughout the UK.

Entry requirements vary widely. Many employers ask for four GCSEs (A*-C) including English and maths, or equivalent qualifications. Previous experience in customer service, accounts or office work can be helpful. The Diploma in business, administration and finance may be relevant. It is possible to enter this work through a Level 3 Advanced Apprenticeship in providing financial services, which includes a pensions administration pathway.

Training usually starts with a broad introduction to different departments. Depending on specific responsibilities, pensions administrators may need to gain certain qualifications from The Pensions Management Institute (PMI) or the Chartered Insurance Institute (CII). These range from Level 3 to more advanced specialist qualifications.

Pensions administrators may progress to become team leaders or managers. Larger organisations usually have a structured career path. With further qualifications, administrators can move into pensions advice or diversify into related financial roles like paraplanning or pensions consultancy.

Further details