Junior Pension Benefits Specialist

Government of Prince Edward Island; Charlottetown; On-site; CAD 50,000 - 70,000; Full time

Benefits offered by this job

Vacation leave (4 weeks)

Training funds (up to 2500 CAD)

Employee assistance program

Pension plan

Health and dental benefits

Job summary

The Government of Prince Edward Island is seeking a Junior Pension Benefit Specialist to join the Pensions & Benefits Section within the Pensions & Capital Management Division. This role supports complex pension calculations, audits purchase of service processes, and responds to member inquiries to help them understand their options.

Reporting to the Team Lead, Pension Administration Services & Communication, you will coordinate with external plan administrators, validate transfer and purchase

Qualifications

• University degree or diploma in a related area with experience in benefit administration.
• Completion of PPAC – Introduction to Pension Plans or willingness to complete within 2 years.
• Experience in a highly regulated, multi-union, multi-employer environment.
• Ability to communicate financial concepts clearly to diverse audiences.
• Experience with mathematical calculations and analytical tasks.
• Proficiency with Microsoft Office applications, especially Word, Excel and Outlook.

Responsibilities

• Audit purchase of service calculations and prepare complex pension calculations.
• Coordinate information transfers between external pension plan administrators.
• Respond to member inquiries and guide them through purchase of service options.
• Maintain continuity of service in the absence of Pension Benefit Specialist.
• Ensure accuracy of transfers, purchases and record updates per procedures.

Skills

Mathematical calculations

Analytical proficiency

Microsoft Word/Excel/Outlook

Clear financial communication

Interpersonal skills

Education

University degree or diploma in related area

Tools

Peoplesoft

Ariel

Job description

The Department of Finance and Affordability is committed to Equity, Diversity, Inclusion and Accessibility. Our goal is to build a public sector workforce that reflects the diverse communities we serve and to promote welcoming, diverse, inclusive, respectful workplaces that are accessible to all. We welcome all interested individuals including Indigenous People, persons with disabilities, Black, racialized, ethnic and culturally diverse groups, as well as people regardless of their sexual orientation, gender identities, and gender expressions. Those looking for more information are invited to visit our Equity, Diversity, and Inclusion Policy.

The Department of Finance and Affordability is seeking a Junior Pension Benefit Specialist to join the Pensions & Benefits Section within the Pensions & Capital Management Division. The section provides pension administration services to more than 20,000 members across multiple registered and non-registered pension plans sponsored by the Province of Prince Edward Island.

Reporting to the Team Lead, Pension Administration Services & Communication, the Junior Pension Benefit Specialist audits purchase of service calculations, prepares complex pension calculations, and coordinates responses to inquiries from members, financial institutions, external pension plan administrators, and estates. The incumbent provides guidance to members throughout the purchase of service process, helping them understand their options and make informed decisions regarding their pension benefits. The position also supports the Operations Unit by maintaining continuity of service during the absence of the Pension Benefit Specialist, as required.

Duties will include but are not limited to:

• Liaise with external pension plan administrators to obtain and verify information required to process member requests for service transfers between pension plans;
• Coordinate and manage the exchange of information between pension plans to ensure timely and accurate processing of transfer requests;
• Administer annual member outreach and compliance activities, including communications with members approaching age 71 and dependants reaching eligibility thresholds;
• Coordinate requests for monthly pension benefits, ensuring member records are complete and free of outstanding issues before benefit calculations are initiated;
• Review requests to ensure they have been established correctly, that system records have been updated appropriately, and that all processing steps have been completed in accordance with established procedures;
• Identify systemic administrative issues and inefficiencies, recommend corrective actions, and support the implementation of solutions to mitigate impacts on members and plan administration;
• Review and validate purchase of service calculations to ensure accuracy and compliance with plan provisions and applicable legislation;
• Confirm member eligibility for purchases of service, transfers, and other pension-related transactions;
• Prepare complex calculations for review by the Team Lead, Pension Administration Services & Communication;
• Provide guidance and support to members throughout the purchase of service process, responding to inquiries and explaining available options and their impact on pension benefits;
• Contribute to a continuity of service in the absence of key team members, as required;
• Provide support to the work of the operations unit as required.

Minimum Qualifications:

• A university degree in a related area or a diploma in a related area with considerable experience in benefit administration;
• Demonstrated equivalencies will be considered;
• Completion of Pension Plan Administration Certificate (PPAC) – Introduction to Pension Plans (Part 1) or willing to successfully complete the course within 2 years;
• Experience working in a highly regulated, multi-union, multi-employer environment;
• Experience communicating financial concepts in a clear and accessible manner for diverse audiences;
• Experience performing mathematical calculations and possess analytical proficiency;
• Experience using Microsoft Office applications (specifically Word, Excel and Outlook);
• The successful candidate must provide a satisfactory Criminal Records Check prior to beginning employment.

Other Qualifications:

• Experience in defined-benefit pension administration would be an asset;
• Formal training in project management would be an asset;
• A Pension Plan Administration Certificate (PPAC) designation would be an asset;
• A Certified Employee Benefit Specialist Certificate (CEBS) designation would be an asset;
• A Payroll Compliance Professional (PCP) designation would be an asset;
• A Retirement Plans Associate (RPA) designation would be an asset;
• Experience working with customized software systems (e.g. Peoplesoft, Ariel, etc.) would be an asset;
• Possess strong interpersonal skills required to effectively interact with sensitive and confidential information, with meticulous attention to detail, often under time constraints, with empathy;
• Be organized and able to work independently and adapt to changing situations using skills in critical thinking and problem solving;
• Highly reliable with an excellent attendance record and strong work ethic.
• 4 weeks paid vacation annually, as per the Terms and Conditions for Excluded Employees
• Up to $2,500 annual training funds
• Employee assistance program
• Pension Plan
• Employer-paid health and dental benefits

This competition may be used to fill future job vacancies.

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