Pensions Administrator - Defined Benefits

About XPS Group

XPS Group is a leading UK consultancy and administration firm specializing in pensions and insurance. As a FTSE 250 company employing over 2,000 people, XPS supports more than 1,400 pension schemes and their sponsors by integrating expert knowledge with modern technology. The organization values diversity and fosters a workplace where varied talents can flourish.

Role Overview

This permanent full-time position based in Reading involves working within teams managing pension administration for trust-based company schemes, including defined benefit, defined contribution, career average revalued earnings, and hybrid arrangements. Each team is responsible for comprehensive management of their client’s scheme to enhance relationship quality and focus.

Key Responsibilities

• Following best practice procedures in all areas of pension administration as defined by the company.
• Participating in annual projects such as renewals, benefit statements, life assurance, private health insurance, and pension increases, ensuring thorough data handling and compliance with customer and legislative standards.
• Customizing standard documentation to scheme-specific requirements and embedding this in operational procedures.
• Monitoring procedural changes and implementing updates as necessary.
• Conducting first-level reviews of junior staff’s output and final checks on non-financial work like address changes.
• Providing informal training and guidance to junior team members.
• Managing internal and external telephone queries and acting as a primary contact for clients where relevant.
• Operating automated calculation systems and conducting manual benefits calculations.
• Developing intermediate expertise regarding clients and their pension schemes.
• Handling ad-hoc projects and team-related tasks such as bulk communications to scheme members.
• Maintaining pension administration databases and systems with accurate updates.
• Resolving complex pension-related enquiries and liaising with the Department for Work and Pensions and HM Revenue and Customs as needed.
• Assisting with internal technical committees, training sessions, and events.
• Collaborating closely with internal departments and external teams (e.g., Pensions Accounts, Payroll, Administration Support, IT providers) to deliver comprehensive client service.
• Accurately recording time spent on chargeable and non-chargeable activities according to company utilisation targets.

Candidate Profile and Qualifications

• Fundamental understanding of pension administration tasks applicable across different schemes.
• At least two years' experience with Defined Benefit pension schemes handling processes such as retirements, leavers, deaths, transfers, monthly processing, benefit statements, renewals, and pension increases; all applications are considered individually.
• Up-to-date knowledge of pension legislation, including regulatory obligations under Pensions and Finance Acts relevant to administration.
• Experience in mentoring and quality checking work by junior staff is advantageous.
• Background in third-party pension administration is preferred but strong in-house experience is also valued.
• Numerical aptitude demonstrated through work history or academic performance.
• Proficiency in Microsoft Word, Excel, and Outlook.
• Minimum educational achievement of A Level or equivalent; ideally with three or more C grades or higher at A Level and GCSE Maths and English with grade B or equivalent.
• Willingness to pursue relevant pension qualifications such as CPC, QPA, DPC, RPC, or APMI is desirable.

Benefits and Culture

The company provides a competitive salary package including an annual discretionary bonus, 25 days of holiday with flexible buy/sell options, pension matching, healthcare coverage, life insurance, and discounts at select retailers. Additional support offerings include a flexible benefits scheme, employee assistance programs, digital GP services, and paid volunteer leave encouraging charitable engagement. Referral rewards are also available to employees introducing suitable candidates.

Equal Opportunity and Eligibility

XPS Group is dedicated to equality, welcoming applicants regardless of sex, race, disability, sexual orientation, religion, or belief. As a Disability Confident employer, it guarantees accessible and supportive workplaces. Employment offers are contingent upon successful DBS checks, reference verification, satisfactory credit checks, and legal eligibility to work in the UK. The company does not offer visa sponsorship.