At a Glance
- Tasks: Administer pension payroll activities and ensure accurate payments for members.
- Company: Join a growing pensions business with a supportive team culture.
- Benefits: Flexible hybrid working, career development opportunities, and exposure to governance initiatives.
- Other info: Collaborative environment with opportunities for process improvement.
- Why this job: Make a real impact in the pensions sector while developing your skills.
- Qualifications: Experience in pension administration and strong attention to detail required.
The predicted salary is between 30000 - 40000 £ per year.
The Opportunity
We are looking for a Pension Payroll Administrator to join a growing operations team, supporting the delivery of high quality payroll services for pension scheme members and policyholders. This is an excellent opportunity for someone with defined benefit pension and payroll administration experience who enjoys working in a detail focused environment and is passionate about delivering outstanding customer outcomes.
Key Responsibilities
- Administer pension payroll activities in line with scheme rules, legislation and internal controls.
- Process new pensioner payroll records, amendments, cessations and one-off payments.
- Calculate and apply pension increases, tax deductions, arrears and recoveries.
- Complete payroll reconciliations, validations and control checks to ensure accurate and timely payments.
- Maintain member and payroll records, resolving discrepancies and exceptions.
- Handle enquiries from members, trustees and third parties, providing clear and accurate communications.
- Support payroll implementations, scheme onboarding activities and key life cycle events.
- Assist with data validation, quality assurance and operational reporting.
- Ensure compliance with pension legislation, PAYE regulations and governance requirements.
- Contribute to process improvements and operational efficiency initiatives.
About You
Essential
- Experience in defined benefit pension administration and/or pension payroll administration.
- Strong understanding of payroll processes, controls and reconciliations.
- Knowledge of PAYE, payroll legislation and HMRC requirements.
- Excellent attention to detail and numerical accuracy.
- Experience using pension administration and payroll systems.
- Strong organisational skills with the ability to manage multiple priorities.
- Proficient in Microsoft Excel and the wider Microsoft Office suite.
Desirable
- Experience within Bulk Purchase Annuities (BPA) or Pension Risk Transfer environments.
- Knowledge of FCA regulatory requirements and governance frameworks.
- Experience supporting payroll implementations, transitions or change projects.
What's on Offer
- Flexible hybrid working.
- Opportunity to join a growing and evolving pensions business.
- Exposure to pension payroll operations, governance and process improvement initiatives.
- Supportive and collaborative team environment.
- Career development opportunities within a specialist pensions function.
We are currently working on a number of roles across the pensions / BPA space, so please get in contact for more details.
Pensions Payroll Admin employer: The Actuary
Join a dynamic and supportive team as a Pensions Payroll Administrator, where you will play a crucial role in delivering high-quality payroll services for pension scheme members. With flexible hybrid working arrangements and a strong focus on career development, this is an excellent opportunity to grow within a specialist pensions function while contributing to process improvements in a collaborative environment.
StudySmarter Expert Advice🤫
We think this is how you could land Pensions Payroll Admin
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
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Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
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We think you need these skills to ace Pensions Payroll Admin
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to The Actuary.
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Research and Reflect:Before hitting that 'apply' button on The Actuary's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at The Actuary
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with The Actuary.
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✨Network with Industry Professionals
Before your interview, reach out to current or former The Actuary employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
