Working in First Actuarial’s administration services team

What does the administration services team do?

We’re the people who look after pension scheme members, making sure they understand their benefits and rights fully enough to make important decisions. This involves communicating complicated issues clearly, either in writing or over the phone. Our administrators are open and friendly, able to put members at ease.

Many members feel swamped by all the pension information out there and the choices they have to make. We pride ourselves on the support we give them and the clarity of our information. Because our staff have no internal targets to meet, they can spend as long as necessary talking to members who need our help.

As well as dealing with members, we oversee the day-to-day running of pension schemes. We are the glue that holds everything together, making calculations and dealing with third parties like HMRC and The Pensions Regulator, to help schemes run smoothly.

How does the administration team train and develop its staff?

For staff members who are totally new to pensions, we provide an induction programme, which covers the basics. You’ll then study for the Pensions Management Institute Award in Pension Essentials (PMIAPE). Spread across five units, PMIAPE gives people the grounding needed to work in the pensions industry.

Upon successful completion of PMIAPE, staff are encouraged to start working on the PMI Certificate for Pensions Calculations. This deals with a whole range of day-to-day pension calculations, and is a fundamental building block for pensions administration work.

What does career progression look like?

Starting as a trainee, you’ll become an experienced pensions administrator. From there, your progression into a more senior role will depend on your own strengths and preferences.

If you’re someone who suits people management, we’ll look at developing you into a team leader, and maybe upwards from there. If, on the other hand, you prefer to focus on client work, then you can move into a role like scheme secretary and, ultimately, consultant. For those with good IT skills, we also have our own administration systems team.

In every area of pensions administration, irrespective of the career choices our staff make, we give people the space and opportunity to grow to their full potential.

Meet the administration team member

Gary Potts

Meet Gary
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