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Pensions administrator: Job description and activities

Pensions administrators ensure that group and personal pension schemes operate effectively on a day-to-day basis. Pensions administrators may work for large insurance companies, in-house company pensions schemes, public sector pensions providers, third party pensions administration services or consultancies.

Enquiries may be received from a range of customers, including independent financial advisers (IFAs) (acting as brokers between the life assurance company and individuals who have taken out a pension plan), pension managers from client companies and individual pension scheme members.

Typical work activities include:

• updating pension scheme member records;
• transferring benefits into or out of the scheme (on a member’s request);
• providing statements;
• calculating benefits;
• processing retirements and arranging payments of lump sums or pensions;
• liaising with other departments to ensure compliance with the legal and regulatory aspects of pensions administration;
• providing high levels of customer service.

The Pensions Management Institute (PMI)  offers a programme of work-based and other professional pension qualifications, including the Diploma in Pensions Calculations, the Qualification in Pensions Administration (QPA), the Diploma in Member Directed Pension Scheme Administration (DMDPSA) and the Qualification in Public Sector Pensions Administration (QPSPA).

It is possible to begin work as a pensions administrator and then progress within the industry to more advanced positions. However, in order to do so, it is essential to undertake further training and gain recognised professional qualifications within the pensions industry.

For more information see Pension scheme manager.

AGCAS

Written by Annette Millar, University of Plymouth

Last updated:

September 2009

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