Pensions Manager UK & Ireland

Abbott; United Kingdom; On-site; GBP 60,000 - 85,000; Full time

Job summary

A prominent healthcare company in the UK is seeking a Pensions Manager to lead its Pensions Team and manage pension schemes. The ideal candidate will have extensive experience in both DB and DC pensions, strong communication skills, and a professional qualification in pensions management. The role offers competitive salaries and a comprehensive benefits package, making it an excellent opportunity for the right candidate.

Benefits

Competitive salaries

Defined contribution pension scheme

Private healthcare

Life assurance

Flexible benefits scheme

Qualifications

• Extensive experience in managing DB and DC pension funds.
• Ability to communicate effectively in a corporate environment.
• Thorough understanding of pensions-related personal taxation.

Responsibilities

• Lead and manage the in-house Pensions Team.
• Act as Secretary to the Trustee of the pension fund.
• Ensure compliance with legislation and internal controls.
• Manage governance and administration of pension schemes.
• Supervise annual budget management exceeding £2 million.

Skills

Managing DB and DC pension funds

Effective communication

Understanding of personal taxation related to pensions

Stakeholder management

Education

Professional qualification to APMI or equivalent

Job description

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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).

What You’ll Do

• 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 supports 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. Seeks and evaluates expert technical advice to deliver structured and targeted support to decision makers. Monitors administration performance against service level agreements and ensures all member issues are resolved in a timely fashion.
• Lead in the production of all member communications for the Abbott Laboratories Pension Fund (1966). Ensures 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. Responsible for ensuring adequate internal financial controls and administrative procedures are maintained throughout the pensions function. 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.
• Directs all activities of the pensions office staff ensuring adequate resourcing, training and development, and direct line management of one individual. Manages the activities of the third party administrator of the Abbott Laboratories Pension Fund (1966) and of the provider of the Abbott Retirement Saver (2015).
• Coordinates and evaluates detailed technical analysis in support of funding issues arising from triennial actuarial valuations.
• Budgetary responsibility for management of Trustee expenditure exceeding £2 million annually, and budgetary negotiations.
• Oversees 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).
• Oversees 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.
• Manages the annual renewal processes.
• Supports the annual Corporate audit.
• Proactively identifies pension related issues creating opportunities or requiring decisions from the Company and the Trustee, making suitable recommendations.
• Excellent stakeholder management - leads multiple relationships with professional advisors, the management of Trustee Board activities etc.

What You’ll Need

• 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.
• Thorough understanding of personal taxation as it relates to pensions and specifically high earners.
• Professional qualification to APMI or equivalent with membership of PMI.

What We Offer

As you’d expect from a global healthcare company, we offer a fantastic range of benefits to support you and your family, including competitive salaries, a superb defined contribution pension scheme, private healthcare, life assurance and a flexible benefits scheme.