Pensions Calculation Analyst

We are seeking a skilled Pensions Calculation Analyst to join our Business Solutions Team. The Senior Pensions Calculation Analyst plays a key role in delivering high-quality, accurate, and efficient Defined Benefit and Defined Contribution pension calculations. Reporting to the Lead Pensions Calculation Analyst, the role is responsible for developing, specifying, testing, and maintaining the organisation’s calculation standards and methodologies.

This role ensures that all calculation requirements—whether from new schemes, legislative changes, or client needs—are translated into clear, technically robust specifications that support automation, compliance, and operational excellence. Acting as a subject matter expert, mentor, and quality gatekeeper for calculation activity across the Business Solutions Team.

• Development and maintain the methodology and process for calculation development from specification through to testing.
• Building strong relationships with other teams and subject matter experts to work closely on all aspects of calculation work.
• Documenting and sign off of work in line with current working practices with appropriate version controls.
• Developing calculation expertise knowledge level and follow training and guidance on processes to ensure you are working within the most current methodologies.
• Peer review work completed by other team members to ensure accuracy and consistency.
• Conduct detailed analysis of new and existing calculations, scheme rules, technical documentation and legislation to produce detailed calculation specifications that provide the information needed to build and test the calculations.
• Collaborate with Project Managers/CRMs to prepare estimates for tasks, scope, effort and timescales requirements.
• Contribute to projects and business development by highlighting risks, issues and opportunities.
• Supporting and standing in for the Lead Pensions Calculation Analyst when the need arises.
• Working with the business and its clients to interpret their needs. Carry out analysis and make recommendations for simplification, rationalisation, and effective automation.
• Conduct detailed testing of developer outputs prior to UAT and document findings for business and client review.
• Manage interaction with third parties such as scheme actuaries and legal teams to clarify complex queries.
• Analyse calculation errors, identify root causes and recommend improvements for future exercises.
• Produce user documentation and consider quality and assurance measures.
• Keep up to date with pensions technical and industry sector developments.
• Support the introduction and adoption of new procedures through documentation and communication.
• Investigate and suggest ideas to improve efficiency and quality of service.
• Work within relevant policies including ISO 27001 ensuring all processes adhere to required standards.

• Ability to read, understand and extract detailed and complex technical information from scheme rules and documentation provided and then interpret into calculation development specifications.
• Detailed understanding of DB calculations; retirement, transfer and death calculations.
• Technical Defined Benefit and good Defined Contribution Plus understanding of current pension legislation and an appreciation of upcoming changes.
• Good analysis and problem-solving skills and knowledge of analysis methodologies.
• A-Level or GCSE English and mathematics (A-C).
• Extensive experience in pension administration and calculations analysis.
• Highly computer literate, with strong experience in pension administration systems.
• Advanced Excel Skills, including complex formulas, analysis tools and data.
• Understanding of project management, with prior experience of pensions scheme projects, including implementations, and delivering work to specification, time and budget.

• Self-starter with the ability to work with minimum supervision and work well under pressure.
• Excellent time management, organisation and the ability to balance multiple priorities.
• Good interpersonal and relationship management.
• Gravitas to work collaboratively with clear communication skills, both written and verbal.
• Ability to think analytically and should be a problem solver with an understanding of the impact of decisions made.
• A collaborative approach, working effectively within a team environment.
• Desire to stay updated on current and new developments in the pensions industry and pensions legislation.
• A flexible attitude and be able to comfortably accommodate change.

• Reports to: Lead Pensions Calculation Analyst.
• Line manager: Andrea North, Business Solutions Manager.