Pensions managers work with in-company or private pension schemes to make sure they are properly run.
1. Entry requirementsYou’ll need a background in pensions or finance work, and a qualification in pensions, insurance or accountancy that meets industry regulatory standards.
You could also start as a trainee pensions manager or a pensions administrator and work your way up on a management training scheme.
Taking qualifications from a professional body like the Pensions Management Institute (PMI) or Chartered Insurance Institute (CII) may help you get work.
2. Skills required
- the ability to work with, and understand, complex information
- good maths and business skills
- strong spoken and written communication skills
- the ability to make clear decisions
- good negotiation skills
- an organised and methodical approach
- the ability to lead and motivate a team
3. What you'll do
Your day-to-day duties might include:
- managing a team of pensions administrators and advisers
- handling complex claims and settling disputes
- planning new pension schemes and developing existing ones
- investing the company's funds to bring the best return
- reporting on the scheme’s financial performance
- working with actuaries, solicitors, auditors, investment consultants and trustees
- marketing the pension schemes
Starter: £22,000 to £25,000
Experienced: £25,000 to £40,000
Highly Experienced: £40,000 to £80,000
Salary packages may include insurance, pension benefits and bonuses based on your performance or that of the company.
These figures are a guide.
5. Working hours, patterns and environmentYou’ll usually work standard office hours, Monday to Friday. You may have to work extra hours at busy times, like the end of the tax year.
You’ll mainly be office-based, but may need to travel to visit scheme members, employers and trustees.
6. Career path and progressionWith experience, you could progress to manage larger departments or schemes, or move into other sectors like insurance.
You could also become a self-employed pensions consultant.
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Last updated: 21 December 2016