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For Companies At a Glance
- Tasks: Lead complex pension calculations and ensure excellent customer outcomes.
- Company: Join the UK's longest-running insurer, supporting 700,000 customers in retirement.
- Benefits: Enjoy flexible hybrid working, performance bonuses, and generous holiday options.
- Why this job: Make a real impact on financial security while growing in a supportive, inclusive culture.
- Qualifications: Experience in Defined Benefit pensions and strong communication skills are essential.
- Other info: Be part of an award-winning team focused on innovation and customer satisfaction.
The predicted salary is between 36000 - 60000 £ per year.
Pensions Calculation Manager – Defined Benefit
- Full-time
- Permanent or Fixed Term Contract: Permanent
- L&G Business Unit: Legal & General Retirements Institutional
- L&G sub Business Unit: INSTITUTIONAL RETIREMENTS
- Primary Location: Hove, One City Park
- Job Family: Actuary
Legal & General Institutional Retirement looks after around 700,000 customers who have their retirement benefits secured with us. Operating continuously in the UK market since 1987, we are the UK’s longest-running insurer, and we are growing strongly.
Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We collaborate with companies, DB pension schemes, and their advisors to secure and protect scheme members’ retirement benefits.
Joining us means supporting customers’ financial security in retirement, helping companies settle pension liabilities, and enabling long-term investment to back our pension promises.
We are seeking a motivated, technically skilled individual with extensive experience in Defined Benefit pension administration, either part or fully qualified as a pensions actuary, to join our growing, award-winning PRT business as a Technical Calculation Manager.
In this role, you will provide expertise on complex benefit structures, manual calculations, and act as an SME on all ongoing and new schemes managed by our in-house Client Services team. You will also manage claims work and aim to deliver excellent customer outcomes. Strong communication skills are essential to tailor and simplify complex information for diverse audiences.
This is a hybrid working role, allowing flexible work between home and our Hove office.
What you\’ll be doing:
- Leading in checking individual DB quotations, designing & issuing non-standard communications to members and third parties
- Collaborating with the Team Manager to ensure efficient administration and claims service in line with SLAs
- Facilitating activities such as valuations, data updates, bulk transfers, and liaising with other teams
- Leading process improvement projects and engaging in initiatives driven by legislative or system changes
- Developing robust, reusable solutions meeting quality, version control, and audit standards, working with IT partners for implementation
- Analyzing feedback to meet customer performance expectations and reporting on improvements
- Supporting team development through training and mentorship
Who we\’re looking for:
- Substantial experience in Defined Benefit pensions
- Strong numeracy skills and problem-solving ability
- Knowledge of legislation such as GDPR, Money Laundering, Complaints, Consumer Duty, Breach guidelines
- Experience supporting and training team members
- Excellent written and oral communication skills
Benefits include:
- Performance-related bonus and share schemes
- Life assurance, private medical insurance
- At least 25 days holiday plus public holidays, with options to buy/sell holiday
- Family leave, electric car scheme, discounts, and modern office spaces for collaboration and wellbeing
At L&G, we believe in generating positive returns today while building a better future for all. We foster a welcoming, inclusive culture with opportunities for growth, guided by leaders who care about your future and wellbeing. We support flexible working arrangements and value diverse strengths and potential.
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Pensions Calculation Manager - Defined Benefit employer: Legal and General
Contact Detail:
Legal and General Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pensions Calculation Manager - Defined Benefit
✨Tip Number 1
Familiarise yourself with the latest trends and changes in Defined Benefit pension legislation. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals in the pensions industry, especially those who work in roles similar to the Pensions Calculation Manager. Engaging in conversations can provide insights into the role and may even lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've improved processes or solved complex problems in previous roles. Highlighting your problem-solving skills will resonate well with the responsibilities outlined in the job description.
✨Tip Number 4
Showcase your communication skills by practising how to explain complex pension concepts in simple terms. This is crucial for the role, as you'll need to tailor information for diverse audiences.
We think you need these skills to ace Pensions Calculation Manager - Defined Benefit
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in Defined Benefit pensions and any relevant qualifications. Use specific examples that demonstrate your numeracy skills, problem-solving ability, and knowledge of legislation like GDPR and Consumer Duty.
Craft a Compelling Cover Letter: In your cover letter, express your motivation for applying to the Pensions Calculation Manager role. Discuss how your background aligns with the responsibilities outlined in the job description, particularly your experience in managing claims and leading process improvement projects.
Showcase Communication Skills: Since strong communication skills are essential for this role, provide examples in your application of how you've simplified complex information for diverse audiences. This could be through previous roles or training experiences.
Highlight Team Development Experience: Mention any experience you have in supporting and training team members. This is important for the role, so include specific instances where you've contributed to team development or led initiatives that improved performance.
How to prepare for a job interview at Legal and General
✨Showcase Your Technical Expertise
Make sure to highlight your extensive experience in Defined Benefit pension administration. Be prepared to discuss specific examples of complex benefit structures you've worked with and how you approached manual calculations.
✨Demonstrate Strong Communication Skills
Since the role requires simplifying complex information for diverse audiences, practice explaining technical concepts in layman's terms. This will show your ability to tailor your communication style to different stakeholders.
✨Prepare for Process Improvement Discussions
Think about past experiences where you've led process improvement projects. Be ready to discuss how you identified areas for improvement and the impact your initiatives had on efficiency and customer outcomes.
✨Familiarise Yourself with Relevant Legislation
Brush up on key legislation such as GDPR and Consumer Duty. Being knowledgeable about these regulations will demonstrate your understanding of the compliance landscape in which the company operates.
