Pensions Business Partner - Defined Benefit

2022 - Chief Operating Office; Glasgow; Hybrid; GBP 37,000 - 52,000; Full time

Job summary

A leading UK banking organization seeks a Pensions Business Partner to support the Defined Benefit Pension Scheme and Trustee Board. The role involves managing supplier relationships and ensuring effective communication with stakeholders. Ideal candidates will have extensive knowledge of pension administration and a history of handling complaints. Competitive salary range of £37,600 - £52,000 per annum is offered for this permanent position based in a hybrid UK model.

Benefits

25 days holiday, increasing to 30

Private medical insurance

Competitive pension scheme

Performance-related bonus

Training and development opportunities

Flexible benefits scheme

Life assurance

Paid volunteering days

Qualifications

• In-depth knowledge of defined benefit pension administration and governance.
• Experience handling member complaints and disputes.
• Proven ability to manage third-party pension administration providers.

Responsibilities

• Provide pension support to the Defined Benefit Trustee Board.
• Support Trustee Board meetings and prepare meeting papers.
• Liaise with Administration Sub-Committee for timely updates.

Skills

Defined benefit pension administration

Communication skills

Organizational skills

Stakeholder management

Third-party supplier management

Job description

Business Unit: Group Human Resources
Salary range: £37,600 - £52,000 per annum
Location: UK Hybrid – Glasgow or Edinburgh
Contract type: Permanent

Our Team

We’re looking for a Pensions Business Partner within our Group Pensions Team to support our Defined Benefit Pension Scheme and Trustee Board. As part of the Pensions and Benefits Team you’ll work in partnership with the Company and Pension Trustees to support with the delivery of our Pension agenda.

Reporting to the Head of Pensions & Benefits, you’ll have a wealth of defined benefit pensions knowledge and be able to draw on your experience to build positive effective relationships with both internal and external stakeholders, to deliver against our objectives and ensure we are getting the best from our partners.

What you’ll be doing

• Providing pension support to the Defined Benefit Trustee Board and Sponsor.
• Supporting the Trustee Board and Sub-committee meetings, with a particular focus on pension administration, including preparation of meeting papers as required.
• Acting as a key liaison for the Administration Sub-Committee, ensuring timely updates, coordination of actions, and delivery of administration-related objectives and ongoing projects.
• Providing support to Scheme members, overseeing member complaints and dispute resolutions with guidance from legal advisor.
• Ensuring delivery of Scheme calendar of events, actions from meetings and business plans.
• Supporting the Scheme’s communication strategy.
• Managing third party suppliers to the Scheme, including attendance at relationship meetings.
• Providing oversight to third party supplier budgets.
• Providing support to the Scheme’s suppliers and the wider HR Team.
• Reviewing and processing supplier invoices.
• Monitoring scheme cashflows and processing financial transactions in relation to the Schemes’ investments.
• Overseeing the reconciliation of monthly scheme expenditure.
• Managing election processes for Member Nominated Trustee Directors.

We need you to have

• An in-depth working knowledge and experience of Defined benefit pension administration and governance.
• Thorough working knowledge of pensions, including both technical aspects and administration.
• Knowledge of principles of Internal Dispute Resolution and experience of handling member complaints.
• Proven ability to work with and manage third-party suppliers, including overseeing outsourced pension administration providers.
• Background in working within an in-house pension environment or external consultancy.
• Track record of collaborating with multiple stakeholders, including pension scheme trustees.
• Excellent communication and organisational skills. Ability to work effectively in a fast-paced environment.

It’s a bonus if you have but not essential

• Broad knowledge of Defined Contribution pension arrangements would be an advantage.

Red Hot Rewards

• 25 days holiday per year, increasing over time to 30. Plus, an option to buy more, giving you even more choice.
• Private medical insurance
• A highly competitive pension to help you build a strong foundation for retirement
• Access to an annual performance‑related bonus
• Training and development to help you progress your career
• A great selection of additional benefits through our flexible benefits scheme
• Life assurance to provide peace of mind for you and your loved ones
• Up to 2 days of paid volunteering a year

If we’re lucky to receive a lot of interest, we may close the advert early. Please ensure to submit your applications as soon as possible.

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Virgin Money is so much more than just a bank. As part of the Nationwide group, together we're the UK's first full‑service mutual bank serving millions of retail and business customers and all driven by our purpose: Banking but fairer, more rewarding and for the good of society. With us, you’ll be part of an organisation uniquely positioned to make a difference to the lives of customers, communities and broader society and embark on a collaborative, customer‑obsessed, and fun‑filled career journey. Embrace the weekdays, enjoy fantastic perks, and make a meaningful positive difference. Time to discover what it means to be part of the first mutual full‑service banking provider.

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As a Disability Confident Leader, we’re committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team [e-mail]

Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.

Now the legal bit

Although some of our roles allow you to be based anywhere in the UK, we'll need you to confirm you have the right to work in the UK.

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre‑employment checks – we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.