Pensions Manager

Abbott; Greater London; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading healthcare company is recruiting a Pensions Manager to oversee pension schemes and lead the in-house pensions team. The role involves significant engagement with management and stakeholders, ensuring compliance with regulations, and maintaining high standards in communications. Candidates should have extensive experience with both defined benefit and defined contribution pension funds, along with a strong understanding of relevant taxation issues. This position will be based in Greater London, requiring strong project management skills.

Qualifications

• Extensive experience managing both DB and DC pension funds.
• Ability to communicate effectively within a corporate environment.
• Project management experience required.
• Understanding of personal taxation related to pensions.

Responsibilities

• Lead the in–house Pensions Team and provide support.
• Act as Secretary to the Trustee and manage pension administration.
• Ensure compliance with legislation and facilitate training for Trustee Board.
• Manage relationships with professional advisors.

Skills

Managing DB and DC pension funds

Effective communication

Project management

Understanding of personal taxation

Education

APMI or equivalent qualification

Job description

Introduction

We will shortly begin actively recruiting for a Pensions Manager for our Corporate Financial Services division, to be office‑based from a UK site location (Solihull or Maidenhead most ideal).

Responsibilities

• Lead the in‑house Pensions Team, providing support and information to Company Management, the Trustee Directors and all active members of both pension schemes across multiple sites and business divisions. This involves ensuring that adequate support is in place to support members transitioning as a result of corporate acquisitions or divestments within a complex corporate group and to members seeking to understand their options as they approach retirement.
• Actively support the UK entity and the Trustee in the relationship with the US parent company.
• Act as Secretary to the Trustee of the Abbott Laboratories Pension Fund (1966), supporting the Chairman of the Trustee in taking decisive action to deliver the objectives of the Board.
• Act as a technical expert in support of both the Trustee Board and the Company, including the continuous assessment of the requirements of pension schemes due to the evolving regulatory environment and the implications of pensions tax regulations.
• Lead, manage and direct all elements of pension administration and communication for the Abbott Laboratories Pension Fund (1966), Abbott Retirement Saver (2015) including automatic enrolment of all new hires, and similar support for a closed DB scheme and an open DC scheme in Ireland.
• Manage all aspects of governance, support and delivery for the Trustee Board, including preparing, running and minuting Trustee Meetings.
• Lead representation in all key relationships with professional advisors to both the Trustee and the Company. Seek and evaluate expert technical advice to deliver structured and targeted support to decision makers. Monitor administration performance against service level agreements and ensure all member issues are resolved in a timely fashion.
• Lead in the production of all member communications for the Abbott Laboratories Pension Fund (1966). Ensure consistent high quality of communication content and presentation through a rigorous review process, including oversight of the scheme website and its frequent updates. Similar for Abbott Retirement Saver (2015), optimising member communications.
• Ensure compliance with applicable legislation, regulation and regulator guidance as well as the delivery and coordination of all necessary training for the Trustee Board. Be responsible for ensuring adequate internal financial controls and administrative procedures are maintained throughout the pensions function. Be responsible for ensuring that the Trustee’s Annual Report and Accounts is prepared, audited and signed off within the statutory deadline.
• Lead the Trustee Board in operating Integrated Risk Management, including the regular review of the Trustee Risk Register.
• Partner with HR and Payroll in benefit design and administration issues.
• Direct all activities of the pensions office staff, ensuring adequate resourcing, training and development, and direct line management of one individual. Manage the activities of the third‑party administrator of the Abbott Laboratories Pension Fund (1966) and of the provider of the Abbott Retirement Saver (2015).
• Coordinate and evaluate detailed technical analysis in support of funding issues arising from triennial actuarial valuations.
• Hold budgetary responsibility for the management of Trustee expenditure exceeding £2 million annually, and engage in budgetary negotiations.
• Oversee the application of the Trustee Internal Dispute Resolution procedure for the Abbott Laboratories Pension Fund (1966) to ensure any member complaints are dealt with quickly and appropriately, as well as any member issues with the Provider of the Abbott Retirement Saver (2015).
• Oversee automatic enrolment and automatic re‑enrolment to ensure that all Abbott employers in the UK comply with their duties and that compliance is registered with the Pensions Regulator.
• Manage the annual renewal processes.
• Support the annual Corporate audit.
• Proactively identify pension‑related issues, creating opportunities or requiring decisions from the Company and the Trustee, and make suitable recommendations.
• Excellent stakeholder management – lead multiple relationships with professional advisors and manage Trustee Board activities.

Qualifications

• Extensive experience of managing all aspects of both DB and DC pension funds, including acting as Secretary to the Trustee.
• Ability to communicate effectively at all levels within a complex corporate environment.
• Project management experience.
• Thorough understanding of personal taxation as it relates to pensions and specifically high earners.
• Professional qualification to APMI or equivalent with membership of PMI.

Abbott is an Equal Opportunity Employer, committed to employee diversity.