Pensions Consultant Duties & Responsibilities
The role and function of a Pensions Consultant includes the following duties and responsibilities:
- Overseeing the administration of pension schemes;
- Providing regular reports to pension managers and trustees;
- Keeping clients regularly updated about their pensions and investment products;
- Attending meetings with fund managers, trustees and employee representatives, as well as with other professionals, such as accountants, the solicitors of pensions funds and actuaries;
- Researching the financial market for suitable products and investment funds;
- Calculating the value and performance of funds;
- Reviewing the structure, value and performance of funds;
- Sourcing appropriate investment funds and designing pension and benefits packages to meet the needs of client companies;
- Issuing regular statements to scheme members;
- Helping clients to develop strategies to promote the benefits of their schemes to members;
- Managing the relationship with clients to ensure they are happy with the scheme and investments;
- Keeping up to date with developments in and changes to pensions legislation;
- Advising clients on a range of pensions and investments suitable for their future retirement;
- Explaining complex information to clients to make them aware of their options and to help them assess the relative merits of different schemes;
- Working as part of a team in a sales-driven environment;
- Seeking and attracting new business.
Note that this is not an exhaustive list of Pensions Consultant duties and responsibilities. Job functions for specific Pensions Consultant roles may vary, depending on the industry and type of employer.