Defined Benefit Pensions - Senior Calculations Consultant

LegalAndGeneral; England; Hybrid; GBP 45,000 - 65,000; Full time

Job summary

A leading UK financial services group is looking for Senior Calculations Consultants to join their Pension Risk Transfer team. The role involves calculating Defined Benefits quotes, ensuring smooth pension scheme management, and maintaining excellent stakeholder communication. This hybrid position allows for a balance between office and home working, supporting a flexible work environment.

Benefits

Generous pension contribution

Life assurance

Healthcare Plan

At least 25 days holiday plus public holidays

Competitive family leave

Electric car scheme available

Various employee discounts

Modern office spaces designed for collaboration

Qualifications

• Significant pensions administration experience with DB Pension schemes.
• Strong understanding of Defined Benefit legislation and benefits structure.
• Ability to work collaboratively and manage tight deadlines.

Responsibilities

• Lead the calculation of Defined Benefits quotations and communications.
• Ensure accuracy in benefit calculations with quality checks.
• Provide administration and claims services to stakeholders.

Skills

Customer orientation

Analytical skills

Effective communication

Education

Pension Qualification (CII or PMI)

Job description

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Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor.

We've been safeguarding people's financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world's largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Institutional Retirement looks after around 700,000 institutional 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.

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

Due to continued growth in our award-winning Pension Risk Transfer business we are seeking a number of dedicated and knowledgeable Senior Calculations Consultants to join our PRT Client Services function.

As a Senior Calculations Consultant your main responsibility will be calculating individual Defined Benefits quotations (from a variety of schemes) which is pivotal in ensuring the smooth administration and ongoing management of our Defined Benefit Pension schemes.

This role would be ideal for someone with significant pensions administration experience who enjoys technical, often complex work and has demonstrable experience of working with DB Pension schemes.

This is a hybrid working opportunity which means you can split your working week between your home and our Hove offices to find a work/life balance that works for you.

What you'll be doing:

• Taking a leading role in the calculation of Defined Benefits quotations and designing & issuing any non-standard communications to scheme members
• Ensuring that accurate benefit calculations are being produced, and that sufficient quality checks are being administered before these are issued
• Providing an efficient administration and claims services to scheme members, Trustees, and intermediaries
• Keeping up to date with current pensions legislation and acting as an SME/technical expert for the team
• Facilitating additional activities such as valuations, data updates, and bulk transfers as required
• Effectively managing the end-to-end onboarding process of new DB Pension schemes coming into L&G
• Keeping internal customers and any relevant third parties updated with key information
• Designing and implementing training regimes that focus on providing great customer outcomes

Qualifications

Who we're looking for:

• Pension Qualification such as CII or PMI, or demonstrable equivalent experience working in DB Pensions
• A strong understanding of Defined Benefit Pension schemes (including understanding the way benefits are structured and administered in Defined Benefit schemes) and the related legislation
• Strong customer orientation, including the ability to maintain effective relationships with both internal and external customers
• Proficiency in managing tight timescales and prioritising workloads to ensure that deadlines are met
• Effective communication skills (both written and verbal), including the ability to positively influence stakeholders and customers
• Willingness to take ownership of any issues/queries that may arise and work towards an outcome that is fair to our customers
• Ability to work collaboratively as part of a high functioning team in a fast-paced, evolving environment
• Strong judgement and analytical 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
• Healthcare Plan
• 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.

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