Pension scheme manager : Entry requirements

Although this area of work is generally open to all graduates, a degree in the following subjects may improve your chances:

• mathematics;
• business;
• finance;
• economics;
• law.

However, unlike other pensions-related careers, such as actuarial work, there is no requirement for advanced numeracy.

Entry with an HND/foundation degree and entry without higher education qualifications is possible at pensions administration level. Progression to pension scheme management may become possible in a large company once experience and professional qualifications have been gained.

A postgraduate qualification such as an MBA is not essential but could boost your chance of success in the pensions management field, particularly if your first degree was not in a business or numerate subject. Professional qualifications such as the Advanced Diploma in Retirement Provision (APMI) provided by the Pensions Management Institute (PMI)  are essential to develop a career in pension scheme management. In order to take examinations, candidates must register as students of the PMI. The minimum age for registration is usually 18.

Candidates need to show evidence of the following:

• a high level of common sense and personal integrity;
• strong communication and interpersonal skills;
• leadership qualities;
• analytical and organisational skills;
• meticulous attention to detail;
• a good level of numeracy and IT literacy.

Candidates should look for pension management trainee schemes (with large companies) at the beginning of their final year of study. Acceptance on to one of these schemes will provide you with valuable work experience and enable you to be entered for the PMI examinations.

Entry to pension scheme management is also possible via a pension administrator role. This places an initial emphasis on more process-related skills and the ability to deal with the detailed work that supports the efficient running of scheme systems.

Work experience is not essential, but experience within an office environment may be an advantage.

For more information, see work experience and internships and search courses and research.