Human Resources Assistant (Pension Scheme Administrator/Trustee)

Recruiter
US Embassy London
Location
London (Central), London (Greater)
Salary
£54,805
Posted
18 May 2021
Closes
15 Jun 2021
Ref
ACBXH1706/LB
Job Type
HR Administrator
Contract Type
Permanent
Hours
Full Time

Human Resources Assistant (Pension Scheme Administrator/Trustee)

 

US Embassy, London

 

Serves as the expert on employee retirement benefits and has sole responsibility for day-to-day management of the Mission’s two private pension schemes (a Defined Benefit (DB) plan, the American Embassy Private Pension Scheme (AEPPS) and a Defined Contribution (DC) plan, the Group Personal Pension Plan (GPPP)) and laws, policies and regulations relating thereto. Advises employees on myriad complex and sensitive issues relating to the AEPPS and the GPPP such as death, disability and early retirement, by using extensive knowledge of UK pension industry, scheme rules, and HM Revenue & Customs (HMRC) pension laws. Ensures that members are aware of their prospective entitlements from the respective scheme.

 

Ensures the Embassy meets its legal obligations under the "auto-enrolment" pension rules by determining if employees are "Entitled Workers" "Non-eligible Jobholders" or "Eligible Jobholders" and providing appropriate GPPP information to employees based on that determination. Calculates quarterly AEPPS contributions (approx $1M) due from contributing agencies and bills such agencies accordingly. Calculates monthly GPPP contributions due from contributing agencies and bills such agencies accordingly. Keeps track of pension contribution payments due from participating agencies and ensures these payments are made within the timeframes established under local law. Advises GPPP provider of contribution allocation for each existing member. Notifies pension providers and FSC Charleston of membership changes to AEPPS and GPPP.

 

Upon request, obtains main scheme and Additional Voluntary Contribution benefits illustrations from pension companies and, using knowledge of UK pension law and local pension rules, explains the various pension options to requesting employee to ensure employee's wishes are met in maximising benefits under UK pension rules.

 

Processes paperwork in connection with pension scheme leavers and retirees, ensuring compliance with UK pension law and local pension plan requirements.

 

Is solely responsible for providing pension companies with extensive, annual pension plan renewal data.

 

Is solely responsible for receiving and arranging payment of all bills associated with the day-to-day running of the pension plans e.g. from lawyers, Independent Financial Adviser, pension regulator, pension companies etc. Is responsible for maintaining trustees' bank accounts and monthly reconciliation of those accounts. Is responsible for reconciling monthly trustees' investment account with pension company. Is signatory on 3 trustee checking bank accounts and is responsible for reconciling these each month for annual scrutiny by pension plan auditor.

 

Manages the Medical Insurance Scheme.

Manages Mission's Life Insurance Plan.

 

Qualifications Required:

 

NOTE: All applicants must address each selection criterion detailed below with specific and comprehensive information supporting each item.

 

Education: Foundation Degree in Pensions Administration and Management or an equivalent qualification.

 

Prior Work Experience: Professional work experience within a pension administration environment (e.g. pension provider or 3rd party administrator).

 

Language Proficiency: Fluent in written and spoken English (this may be tested).

 

Knowledge: Comprehensive and extensive knowledge of UK pension, social security, and trust laws. A good appreciation of a multi-faceted HR support program and of communication techniques employed by HR service providers is required.

 

To find out how to apply please select the apply button and visit our website.

 

Work Schedule: Full-time (40 hours per week)

Annual Salary: £54,805