Pensions Technical Analyst

Job Description

Spencer Clarke Group are working in partnership with a very successful and well established accountancy practice in South Devon to help secure them a Pensions Technical Analyst.We are looking for an Occupational Pensions Professional with sound Defined Benefit technical knowledge (Including exposure to Public Sector Benefits).It is part of our holistic approach that we help our clients understand and makeinformed decisions about their valuable pension benefits, without giving regulated Financial Advice.The huge publicity around the impact of the Annual Allowance in particular on doctors is leading toincreased demand for expert pension guidance. This is a growing field offering promisingdevelopment opportunities to the right person. The ideal candidate will be a committed pensionsprofessional combining sound pension technical knowledge with engaging interpersonal skills andwho is looking to progress within a consulting environment. The role will support the PensionsTechnical Consultant and will involve performing pension estimations including the impact of AA <A. The right candidate will also have increasing client contact with scope to develop consultingskills as (s)he progresses.The successful candidate will demonstrate a sound technical knowledge of Defined Benefit pensioncalculations, including knowledge of one or more Public Sector Schemes. The ideal candidate willhave had exposure to NHS Pensions, although this is not essential. To be suitable for this role it isexpected you will need at least 5 years Defined Benefits pensions experience gained in employer in-house pension departments and/or third party scheme administrators or actuarial/employeebenefit consultancies. You are also likely to have, or to have progressed towards, PensionsManagement Institute professional qualifications.The person we need Pensions knowledge

• You should have an all-round competence in Defined Benefit pension calculations which is likely to come from experience of a number of different schemes/types of DB scheme (such as Final Salary, Career Average, Cash Balance).
• You will have an understanding of the benefit structure of one or more Public Sector schemes. Whilst preference will be given to people familiar with NHS Pensions, this could also include Civil Service, Teachers, Local Government, Police or Firefightersschemes
• We are seeking the ability to communicate with highly educated and high-earning professionals about their benefits. This will include obtaining from them information needed to estimate benefits as well as explaining complex benefits in plain English.
• You must understand and know how to remain within the limits of information and guidance as opposed to giving regulated Financial Advice.

With the appropriate information about benefit structures and the required data and actuarial factors, you will be able to calculate:Benefit estimations

• Current accrued benefits for active and deferred members
• The impact of on early/late retirement as well as commutation
• The impact of the Lifetime Allowance on members benefits
• Additional benefits secured under an Added Years or Additional Pension AVC contract or through a service credit
• Benefits where these are determined by the greater of two or more different formulae (eg Final salary v Career Average)

Annual allowance calculations

• Pension Input Amounts
• Annual Allowance charges taking into account any previously unused AA
• The tapered Annual Allowance for high earners subject
• The impact on scheme benefits of using a Scheme Pays facility to pay any Annual

Allowance chargeLifetime allowance calculations

• Amount of used/unused LTA
• Where the LTA is exceeded, the impact on a members benefit amounts

Other skills/attributes we are looking for:

• You should be committed to a pensions career (ideally evidenced by progress in professional exams) and ambitious to progress within a consulting environment
• You will be competent with MS Office applications which must include particular mastery of Excel and the ability to use this to perform complex calculations.
• You will be comfortable communicating complex issues in a manner understood by the layman.
• As a pensions professional, you will appreciate the importance of attention to detail and a methodical approach.
• You should also have the initiative to identify problems with a given approach and seek solutions. When using a given formula or spreadsheet calculation, you will be somebody who seeks to understand what is happening and why, rather than a simple buttonpresser.

How to ApplyIf you think youve got what it takes to succeed, or would love to find out more information, eitherHit the apply button now and follow the stepsContact Matt Byrne Fraser onEmail your CVAbout Spencer Clarke Group