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Pension Payroll Specialist

Coats Pensions
Job LocationGlasgow
EducationNot Mentioned
Salary32,000 - 35,000 per annum
IndustryNot Mentioned
Functional AreaNot Mentioned
Job TypePermanent , full-time

Job Description

The successful applicant will join Coats in-house DB pension administration team to provide Coats UK Pension Scheme members and their beneficiaries with direct support in relation to their pension benefits as well as assisting with projects and processimprovements with the goal of providing an accurate quality service to our members and meeting service level standards as agreed with the Trustee.Pensioner Payroll Administration

  • Update pensioner records as required to ensure that monthly payments are made and taxed correctly
  • Run/square monthly payroll
  • Respond to instructions and queries from pensioners, their beneficiaries, and their representatives; issue communications as required
  • Monitor changes to, and maintain relevant knowledge of, payroll/taxation legislation and best practise
  • Maintain daily service levels and resolve problems/errors
  • Support Member Services Manager & Coordinator, and alert them to any issues
  • Provide cover for absence
Pensioner Payroll Improvements
  • Identify, define, and test new and existing processes, calculations, and letters to ensure accuracy and efficiency of payroll procedures
  • Identify and define new and existing reports to ensure integrity of pensioner payroll data and payments
  • Maintain Internal Control Document which involves documenting changes to processes/letters/checklists
  • Provide support and guidance to other team members in all aspects, knowledge sharing
  • Assist manager to identify the training needs within the team and produce hand outs for team meetings as required
Participate in projects
  • Ensure annual pension increases are paid correctly
  • Ensure payroll system is fully tested and updated for new tax year
  • Provide resource for other projects as required
Pension Office Support
  • Issue reports and data to internal / external sources as required, i.e. for Trustee Reports, Scheme Accounts, HMRC AFT/Event Reports, and tPR Reportable events, etc.
  • Review scheme data and provide information and support for tPR data keeping requirements, valuation, & audit, etc.
Trustee Support
  • Provide reports and recommendations
  • Prepare Trustee referral forms and collate information
  • Investigating previous claims/information
  • Ensure cases meet criteria and adhere to regulations

Keyskills :
Defined BenefitLegislationPayrollPension AdministrationTax

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