Summary
Date Posted: Wednesday, February 15, 2023 , Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose
The Pension Administrator will assist in overseeing the management of pension plans. Provide guidance and assistance to HR and Fund members in relation to pension matters. Collaborate with the Pension Administrative Team to provide administrative, accounting, and counselling services for assigned pension programs. Retirement administration for current and ex-employees pensions including liaising with the actuary to obtain the necessary documentation, and pensioner increases. Working with Team Leader and Team Colleagues to ensure schemes operate effectively and meet performance, quality and customer care targets complying with industry standards.

Summary of Key Responsibilities;
• Provide pension maintenance and accounting services to plan participants; services may include data reconciliation and benefit statements.
• Processing pension payments on a monthly basis according to the pension plan’s terms, including calculating interest on any unpaid amounts.
• Monitoring and updating employee records to ensure that all information is accurate and up-to-date.
• Reviewing applications for pensions to ensure that they meet all company policy requirements
• Calculating pension payments using computer software that is designed specifically for this purpose
• Accurate and timely reporting to external pension administrators on a monthly basis (including preparation and manipulation of data)
• Reporting to PIA on non-contributing employers on a monthly basis
• Updating pension and benefits processes and procedures where necessary, ensuring they are streamlined, efficient and mitigate risk to the company
• Manage pension and benefit policy queries from the business/HR/employees/pensioners, responding in an accurate and timely manner
• Administration of the company benefit packages including, private health insurance, dental insurance, staff travel scheme and vaccinations
• Work with employers and employees to ensure that everyone is receiving their full benefits.
• Maintain current knowledge of pension regulation and compliance issues, changes, and developments by attending and participating in continuing education and training sessions.
• Communicating with members about their pension plans, such as providing information about benefit changes or updates to paperwork requirements.
• Ensuring that all legal requirements regarding pension plans are met at all times
• Maintaining and updating employee records such as birth dates, addresses, marital status, and Social Security numbers.
• Obtaining the signatures of all parties involved in the pension process, such as employees, employers, and attorneys
• Processing employee terminations by updating employee records and terminating benefits where appropriate.
• Provides clients and plan participants information regarding plan design and benefit distributions.
• Perform other related duties as assigned.

Required Skills and Competencies
• Excellent verbal and written communication skills
• Ability to adapt a communication style based on the member’s needs
• Ability to work in a dynamic environment
• Excellent organizational and analytical skills.
• Detail-oriented.
• Ability to work under pressure and to meet fixed deadlines.
• A flexible positive attitude towards work
• Efficiency and attention to prompt turnarounds

Qualifications and Experience:
• Bachelor’s Degree in Accounting/Finance, Pension Management, Business Administration or related field required.
• Must have at least a minimum of 4-6 years of work experience in Pension Administration
• Pension Administration experience in a Consultancy Firm, Brokerage,
Life Office or Working on an in-house scheme is desirable
• Must be well vested with PIA reporting
• Must have excellent technical and compliance knowledge in protection pre- and post-retirement products
• Must have excellent knowledge of HR Pension and Benefits Administration processes
• Must have a good understanding of retirement plans
• Experience in Pension Administration Software products will be an added advantage
• Must possess an enthusiasm to work collaboratively with other team members, colleagues and suppliers
• Experience in dealing with occupational pension schemes

Work Hours: 8

Experience in Months: 48

Level of Education: Bachelor Degree

Job application procedure
If you meet the hiring requirements for the position, please email your CV in Ms Word and Cover Letter clearly stating your salary expectations to: jobs@bemconsult.com  & copy in bemconsult20@gmail.com 
Note that, all communications will be kept in the strictest of confidence. If you do not receive communication within 30 days of the closing date of the advert, please consider your application unsuccessful.
DO NOT SEND CERTIFICATES AT THIS STAGE



All Jobs

QUICK ALERT SUBSCRIPTION