Pension Analyst - Terminations

Royal Bank of Canada; Mississauga; On-site; CAD 70,000 - 95,000; Full time

Job summary

Royal Bank of Canada is seeking a Pension Analyst - Terminations in Mississauga to manage pension terminations, pre-retirement death benefit processing, and related monthly activities with accuracy and confidentiality. You will support various department members and ensure timely, compliant processing for RBC defined benefit plans.

Responsibilities include stepwise termination calculations, coordination with Sun Life when necessary, and producing PARs within CRA timelines, while maintaining

Qualifications

• Well organized with the ability to prioritize work effectively.
• Strong written and verbal communication skills.
• Good decision making ability and ability to see tasks through to completion with minimal instruction.
• Knowledge of Pension Standards Act, ITA and provincial pension legislation.
• Self-starter who can work independently.
• Proficiency with Microsoft Excel and Word.

Responsibilities

• Accurately calculate and process pension terminations within 30 days; coordinate with Sun Life on DC values when needed.
• Calculate pension entitlements for beneficiaries of deceased members within specified timeframes.
• Process pension payouts for terminating employees across RBC pension plans with adherence to by-laws and legislation.
• Prepare and distribute PARs within CRA timelines.
• Review rehired reports and ensure accuracy of pension system and payments.
• Ensure new enrolment reports for the Caribbean Plan are routed appropriately each pay period.
• Perform second signoff on termination payouts and ensure custodial authorization matches records.
• Track and report deferred pension elections and payouts by custodian.
• Issue follow-up letters to terminated members who have not responded.

Skills

Well organized

Excellent communication

Decision making

Pension legislation knowledge

Self-starter

Microsoft Excel

Microsoft Word

Tools

Microsoft Excel

Microsoft Word

Job description

Job Description

As the Pension Analyst - Terminations, you will be responsible for pension terminations and pre-retirement death benefit processing, payments made to former plan members, as well as re-occurring monthly activities, ensuring accuracy and confidentiality. In addition, this position provides support and assistance to various members of the department.

What will you do?

• Accurately calculate and process pension packages for terminating RBC defined benefit plan members within 30 days of termination processing. On necessary terminations, co-ordinate with Sun Life on DC values.
• Accurately calculate pension entitlement for beneficiary of deceased RBC defined benefit plan members within 30 days of receipt of notification of death for deceased members who are under age 55 or over age 55 if divorced or single or in the DS Grandfathered Plan (any age).
• Accurately calculate and process pension payouts for employees terminating from RBC Pension Plans (all), ensuring consistency of application, validity in light of documentation, pension by-laws, and legislation
• Accurately prepare and distribute PARs to employees following termination from all RBC pension plans within CCRA timelines.
• Review the rehired reports to ensure letters are not sent and/or values are not paid out. Correct the pension system, if applicable.
• Ensure that report of new enrolments for the Caribbean Plan is directed to appropriate parties, each pay period, if applicable.
• Second signoff on termination payouts. Ensure authorization to custodian for payment matches system and election forms.
• Ensure tracking and reporting of all deferred pension elections and payouts by custodian are accurate and up-to-date.
• Ensure follow-up letters are sent to RBC pension plan terminated members who have not responded for current and previous years.
• Review and maintain department procedures on a quarterly basis, ensuring all procedures are documented and current.
• Act as back up for other processes in the department.
• Assist with other projects as assigned.

What do you need to succeed?

Must Have

• Well organized with the ability to prioritize work effectively
• Good oral and written communication skills/computer skills
• Strong decision making ability and ability to take the task to completion with minimal instruction
• Good understanding of Pension Standards Act, ITA and provincial pension legislation.
• Self-starter
• Strong PC skills (Microsoft Excel, Word)

Nice to Have

• SAP knowledge
• Business Knowledge Functional Expertise
• Pension Plan Administration Certificate (enrolled in CEBS or PPAC)
• Understanding of actuarial concepts
• RBC net & HR Self-Serve Tools
• Knowledge of RBC Pension Program

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

Opportunities to do challenging work

Opportunities to take on progressively greater accountabilities

Opportunities to building close relationships with clients

Access to a variety of job opportunities across business and geographies

Job Skills

Annuities, Communication, Data Gathering Analysis, Detail-Oriented, Insurance Finance and Actuarial Concepts, Operational Delivery

Additional Job Details

• Address: MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA City: Mississauga Country: Canada
• Work hours/week: 37.5
• Employment Type: Full time
• Platform: HUMAN RESOURCES & BMCC Job Type: Regular
• Pay Type: Salaried
• Posted Date: 2026-10-27
• Application Deadline: 2026-11-10
• Note : Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.