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Pensions Team Lead
Job Posted: 13 hours ago
Salary: £ 300 - 400 / Day
Job Type: Contract
Location: London
Expire in: a month
Job Description
Role Purpose
• To support the Pensions Manager in managing the day to day operation of the Retained Pension Client Service, which includes monitoring the pension administrator’s performance against set criteria.
• To manage and lead the Pension Advisors in a range of administrative duties in relation to the pension client function, including the provision and checking of information to support the accurate maintenance of scheme member records, and to monitor and direct employers in fulfilling their obligations to the pension fund.
• To bring your expert LGPS experience to enhance and shape this new team to deliver a comprehensive and compliant service.
Role Duties
Maintain your expert knowledge of the Local Government Pension Scheme (LGPS) Regulations, Teachers Pension Scheme (TPS), Discretionary Payments Regulations, the State Pension Scheme, and HM Revenue & Customs (HMRC) and The Pensions Regulator requirements in respect of pensions.
Assist the Pensions Manager in analysing statistical data to monitor the performance of the pension administrator, which includes records of payments to and from the Pensions Fund and the accuracy of LGPS deductions from scheme members’ pay as calculated by employers.
Manage and make sound decisions for delivery of the customer service function for inhouse pension service.
Liaise with scheme employers to ensure that they meet their responsibilities in respect of the accurate and timely provision of all necessary pension information to the administering authority.
Manage the process of providing details to the pension administrator of LGPS starters, leavers, contractual hours changes, absence and all other relevant changes which impact on pension entitlements, and to monitor the pension administrator to ensure accurate record maintenance.
Manage and check calculations and ensure that pensionable remuneration are accurately for deferred retirement benefits, actual retirement benefits, interfund adjustments and any other transfer values or benefits.
Manage the process of preparing payment vouchers for authorisation of retirement grants, contribution refunds, transfers, and death grants to generate timely payments.
Manage the process of ensuring the timely payment of third-party supplier invoices including for the administrators.
Manage the pension advisors in calculating and checking redundancy payments. In the case of early retirements, ensuring pension advisors provide the relevant data to the pensions administrator to enable them to calculate pension benefits and costs to the employer, and liaise with any other parties as necessary to support the accurate and timely provision of this information.
Manage the processes for child related absence, sickness, strikes and leave of absence, and to perform / check any calculations as required.
Manage the process of ensuring that any new employers or admitted bodies are on boarded into the Fund in accurately and in a timely manner.
Manage the reconciliation process of the LGPS employee and employer contributions for employing and admitted bodies, schools and academies with external payroll providers, and resolve any discrepancies.
Manage employers and their payroll providers are in the administrating of AVC’s. Assist the Pensions Manager in managing records to provide accurate data for the purposes of system control, monitoring of performance indicators and benchmarking.
Assist in the setting of agreed individual and team targets to ensure quality and accuracy is always maintained.
Manage and monitor the retrieval of archived records to provide information or resolve issues from members, contractors, employees, ex-employees, employers, pensions and financial providers, government agencies and any other third parties as necessary.
Manage the checking of pensions payroll data for new pensioners, deaths, beneficiaries, and adjustments to pension, and resolve any discrepancies. Own and manage the provision of training / guidance as necessary to pension advisors in relation to the administration of the LGPS.
Assist the Pension Manager in managing any ill health pension applications in a timely organised manner.
Manage the pension advisor’s day to day to ensure they work to minimise complaints and resolve these in a timely and satisfactory manner. Coach, develop and check the standards of delivery for the Pension Advisors in their roles.
Assist the Pensions Manager in planning team and departmental goals and objectives. Complete pensions-related statutory returns and surveys as required.
Update and maintain the Pension Fund website and internal pensions information as required. Attend regular service provider meetings and any other meetings as required.
Be proactive with your own learning and development and keeping up to date with pension legislation.
Liaise with and provide information to employees and staff within other departments of the Council and external organisations on pension matters to a high standard.
Develop strong working relationships with the administrators, employers, HR colleagues, senior management.
Deputise for the Pensions Manager in their absence. Any other duties which may be delegated by the Pensions ManagerBefore You Apply
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