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- Tasks: Lead the Pensions Team, supporting members and managing pension schemes across multiple sites.
- Company: Join a global healthcare company dedicated to employee well-being and financial security.
- Benefits: Enjoy competitive salaries, private healthcare, life assurance, and flexible benefits.
- Why this job: Make a real impact on employees' futures while working in a dynamic corporate environment.
- Qualifications: Extensive experience in DB and DC pension funds; APMI qualification preferred.
- Other info: Office-based role in Solihull or Maidenhead; great for those passionate about pensions.
The predicted salary is between 43200 - 72000 £ per year.
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We will shortly begin actively recruiting for a Pensions Manager for our Corporate Financial Services division, to be office-based from a UK site location (Solihull or Maidenhead most ideal).
What You’ll Do
- Lead the in-house Pensions Team, providing support and information to Company Management, the Trustee Directors and all active members of both pension schemes across multiple sites and business divisions. This involves ensuring that adequate support is in place to support members transitioning as a result of corporate acquisitions or divestments within a complex corporate group and to members seeking to understand their options as they approach retirement.
- Actively supports the UK entity and the Trustee in the relationship with the US parent company.
- Act as Secretary to the Trustee of the Abbott Laboratories Pension Fund (1966), supporting the Chairman of the Trustee in taking decisive action to deliver the objectives of the Board.
- Act as a technical expert in support of both the Trustee Board and the Company, including the continuous assessment of the requirements of pension schemes due to the evolving regulatory environment and the implications of pensions tax regulations.
- Lead, manage and direct all elements of pension administration and communication for the Abbott Laboratories Pension Fund (1966), Abbott Retirement Saver (2015) including automatic enrolment of all new hires, and similar support for a closed DB scheme and an open DC scheme in Ireland.
- Manage all aspects of governance, support and delivery for the Trustee Board, including preparing, running and minuting Trustee Meetings.
- Lead representation in all key relationships with professional advisors to both the Trustee and the Company. Seeks and evaluates expert technical advice to deliver structured and targeted support to decision makers. Monitors administration performance against service level agreements and ensures all member issues are resolved in a timely fashion.
- Lead in the production of all member communications for the Abbott Laboratories Pension Fund (1966). Ensures consistent high quality of communication content and presentation through a rigorous review process, including oversight of the scheme website and its frequent updates. Similar for Abbott Retirement Saver (2015), optimising member communications.
- Ensure compliance with applicable legislation, regulation and Regulator guidance as well as the delivery and coordination of all necessary training for the Trustee Board. Responsible for ensuring adequate internal financial controls and administrative procedures are maintained throughout the pensions function. Responsible for ensuring that the Trustee’s Annual Report and Accounts is prepared, audited and signed off within the statutory deadline.
- Lead the Trustee Board in operating Integrated Risk Management, including the regular review of the Trustee Risk Register.
- Partner with HR and Payroll in benefit design and administration issues.
- Directs all activities of the pensions office staff ensuring adequate resourcing, training and development, and direct line management of one individual. Manages the activities of the third party administrator of the Abbott Laboratories Pension Fund (1966) and of the provider of the Abbott Retirement Saver (2015).
- Coordinates and evaluates detailed technical analysis in support of funding issues arising from triennial actuarial valuations.
- Budgetary responsibility for management of Trustee expenditure exceeding £2 million annually, and budgetary negotiations.
- Oversees the application of the Trustee Internal Dispute Resolution procedure for the Abbott Laboratories Pension Fund (1966) to ensure any member complaints are dealt with quickly and appropriately, as well as any member issues with the Provider of the Abbott Retirement Saver (2015).
- Oversees automatic enrolment and automatic re-enrolment to ensure that all Abbott employers in the UK comply with their duties and that compliance is registered with The Pensions Regulator.
- Manages the annual renewal processes.
- Supports the annual Corporate audit.
- Proactively identifies pension related issues creating opportunities or requiring decisions from the Company and the Trustee, making suitable recommendations.
- Excellent stakeholder management – leads multiple relationships with professional advisors, the management of Trustee Board activities etc.
What You’ll Need
- Extensive experience of managing all aspects of both DB and DC pension funds including acting as Secretary to the Trustee.
- Ability to communicate effectively at all levels within a complex corporate environment.
- Thorough understanding of personal taxation as it relates to pensions and specifically high earners.
- Professional qualification to APMI or equivalent with membership of PMI.
What We Offer
As you’d expect from a global healthcare company, we offer a fantastic range of benefits to support you and your family, including competitive salaries, a superb defined contribution pension scheme, private healthcare, life assurance and a flexible benefits scheme.
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Pensions Manager UK & Ireland employer: Abbott
Contact Detail:
Abbott Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pensions Manager UK & Ireland
✨Tip Number 1
Network with professionals in the pensions industry, especially those who have experience with DB and DC pension funds. Attend relevant conferences or seminars to meet potential colleagues and learn about the latest trends in pension management.
✨Tip Number 2
Familiarise yourself with the specific regulatory environment in the UK and Ireland regarding pensions. Understanding the nuances of compliance and governance will set you apart as a candidate who is ready to tackle the challenges of the role.
✨Tip Number 3
Demonstrate your stakeholder management skills by preparing examples of how you've successfully managed relationships with various parties in previous roles. This could include working with trustees, advisors, or corporate management.
✨Tip Number 4
Stay updated on current trends and changes in pension tax regulations, particularly those affecting high earners. Being knowledgeable about these topics will show your commitment to the role and your ability to provide valuable insights.
We think you need these skills to ace Pensions Manager UK & Ireland
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your extensive experience in managing both DB and DC pension funds. Include specific examples of your previous roles, particularly any experience acting as Secretary to the Trustee.
Craft a Compelling Cover Letter: In your cover letter, emphasise your ability to communicate effectively within complex corporate environments. Mention your professional qualifications, such as APMI or equivalent, and how they relate to the role.
Showcase Stakeholder Management Skills: Provide examples of your excellent stakeholder management skills. Detail your experience leading relationships with professional advisors and managing Trustee Board activities, as these are crucial for the role.
Highlight Regulatory Knowledge: Demonstrate your thorough understanding of personal taxation as it relates to pensions, especially for high earners. Mention any relevant experience you have with compliance and governance in pension schemes.
How to prepare for a job interview at Abbott
✨Understand the Role Thoroughly
Before the interview, make sure you have a deep understanding of the Pensions Manager role. Familiarise yourself with the responsibilities outlined in the job description, especially around managing DB and DC pension funds, and be prepared to discuss how your experience aligns with these requirements.
✨Prepare for Technical Questions
Given the technical nature of the role, expect questions related to pensions regulations, tax implications, and governance. Brush up on your knowledge of current legislation and be ready to demonstrate your expertise in these areas during the interview.
✨Showcase Stakeholder Management Skills
The role requires excellent stakeholder management. Prepare examples from your past experiences where you've successfully managed relationships with various stakeholders, including trustees, company management, and external advisors. Highlight your communication skills and ability to navigate complex corporate environments.
✨Demonstrate Leadership Experience
As a Pensions Manager, you'll lead a team and manage multiple projects. Be ready to discuss your leadership style, how you motivate your team, and any relevant experiences where you've directed pension administration or communication efforts effectively.
