DB Pensions Calculation Consultant

Legal & General; England; Hybrid; GBP 40,000 - 80,000; Full time

Job summary

An established industry player is seeking a motivated Calculation Consultant to join their award-winning team. This role offers a unique opportunity to support customers' financial security in retirement while working with a diverse range of defined benefit pension schemes. You will be responsible for complex calculations and providing expert advice, all while enjoying a flexible hybrid working environment. The company prides itself on its inclusive culture and commitment to employee wellbeing, making it an exciting place to develop your career.

Benefits

Annual performance-related bonus plan

Generous pension contribution

Life assurance

Private medical insurance

At least 25 days holiday

Electric car scheme

Employee discounts

Qualifications

• Extensive experience in Defined Benefit pension administration.
• Ability to deliver solutions to technical and business problems.

Responsibilities

• Lead the team for checking Defined Benefits quotations.
• Manage claims work and ensure excellent customer outcomes.

Skills

Defined Benefit pension administration

Strong numeracy skills

Excellent customer service

Written and oral communication

Education

Part or fully qualified pensions actuary

Job description

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Legal & General Institutional Retirement looks after around 700,000 customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer, and we are growing from strength to strength.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

Legal & General Institutional Retirement looks after around 700,000 customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer, and we are growing from strength to strength.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

Job Description

Do you have extensive experience of Defined Benefit pension administration? Are you a part or fully qualified pensions actuary? If so, we’re seeking a motivated and technically skilled individual to join our growing, multi-award winning PRT business as a Calculation Consultant.

In this role you will support the business by providing expertise on complex benefit structures, manual calculations and being an SME on all ongoing and new schemes that come into our in-house Client Services team.



You will also effectively manage all aspects of claims work and help to deliver excellent customer outcomes for our members. As well as being technically savvy, you will also need to be a strong communicator, who is able to tailor their communication and simplify very complex information to ensure that it is appropriate for the intended audience.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our idyllic Hove office to help you achieve a work-life balance that works for you.

What you'll be doing:

• Taking a leading role in the team for checking individual Defined Benefits quotations, design & issue of non-standard communication to both members and 3rd party intermediaries
• Working with Team Manager to ensure that an efficient administration and claims service is provided to individual scheme members, Trustees, and intermediaries in line with service level agreements
• Facilitating and leading the operation of additional activities (Valuation and data updates, Bulk transfers, WULS, etc) and liaise with other teams across Client Services, PRT
• Leading projects to enhance and improve processes and proactively engage in new initiatives as a result of change of legislation and/or system developments
• Taking responsibility to develop robust and reusable solutions that meet quality control, version control and auditing standards for new and existing customers. Work with IT partners to ensure that technical solutions are fully specified, built to specification tested and rolled out for use in a timely manner
• Analysing feedback to ensure that customers’ reasonable expectations of performance and service are met and provide information of identified failings and changes made
• Supporting the ongoing development of the wider team by providing the appropriate support and training to less experienced members of the team
  
  

Qualifications

Who we're looking for:

• Substantial Defined Benefit pensions experience
• Strong numeracy skills, comfortable working in a numbers based role Proven ability to deliver solutions to technical and business problems
• Has a knowledge of the following legislation and remains compliant: - GDPR, Money Laundering, Complaints, The Consumer Duty, Breach guidelines
• Excellent customer service skills
• Experience supporting and training team members
• Strong written and oral communication skills

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Private medical insurance
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice
• There are the many discounts we offer – both for our own products and at a range of high street stores and online
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart
  
  

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all.

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance

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