Pension Scheme Manager Duties & Responsibilities
The role and function of a Pension Scheme Manager includes the following duties and responsibilities:
- Developing communication strategies to promote the benefits of pension schemes;
- Contributing to annual and other financial reports;
- Improving services in response to member feedback.
- Developing pensions policies and pension and benefits packages;
- Reviewing, discussing and agreeing fund strategy and structure with the company board, investment managers and other advisers;
- Advising the company board on new and emerging financial issues;
- Raising company-wide awareness of pensions-related matters;
- Ensuring that schemes operate effectively and meet performance, quality and customer care targets as well as complying with industry standards;
- Monitoring changes in the legal situation for pensions providers and developments in pension provision in order to ensure the optimum performance of the fund;
- Managing the relationship between the employer (primarily responsible to shareholders) and trustees (representatives of scheme members);
- Meeting with and encouraging communication between actuaries, fund managers, solicitors and consultants;
- Supervising the overall administration of pension schemes;
- Calculating the performance and value of funds;
- Providing update reports to trustees and pensions managers;
- Providing regular updates to scheme members;
Note that this is not an exhaustive list of Pension Scheme Manager duties and responsibilities. Job functions for specific Pension Scheme Manager roles may vary, depending on the industry and type of employer.