Pensions Analyst - Defined Benefits/GMP

Posted 30 March by Resource Solutions
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Rectification Analyst (Pensions)

Location: UK Wide (Working from Home)

Length of assignment: 6 months initially and likely to extend

GMP Rectification Analyst

My client is looking for talented and ambitious analysts who are keen to further their career, focused on technical delivery of GMP Rectification projects that sit within the rapidly growing area of GMP Equalisation. This is an opportunity to join a great multi-disciplinary team supporting client teams in the delivery of projects to rectify, equalise and in some cases convert GMP. We are looking for individuals with excellent technical and excel skills alongside strong communication skills, adaptability and organisational skills.

You will be working as part of a team to deliver projects to clients (trustee and corporates) with a primary focus on GMP Projects. This role would be suitable for someone with a strong knowledge of UK Defined Benefit Pensions, alongside a good understanding of Excel. An added benefit would be knowledge around GMP equalisation.

What is the role?

GMP Rectification builds on the GMP reconciliation work that will have already been completed. Any differences between HMRC data and Scheme data will need to be corrected in line with the approach agreed between the business and the client. This will require:

  • Analysis of data to understand if the required data is available;
  • Working with stakeholders either to make assumptions on missing data or to fill the data gaps;
  • Once the data is complete the relevant calculations need to be undertaken using standard tools and processes to establish the correct benefits and any under / over payments made to members;
  • Communicating the results with stakeholders, including consultants and colleagues completing the GMP Equalisation calculations.

Skills and Experience

To be successful in this role you will have:

  • Good understanding of UK Defined Benefit pensions, calculation of retirement benefits and interaction of GMP within a Defined Benefit pension calculation.
  • Strong ability to manage data in Excel and experience of completing analysis work accurately.
  • Ability to communicate technical issues with Consultants and colleagues responsible for GMP Equalisation calculations.
  • Ability to produces reports, using available templates
  • A willingness to learn new skills and be adaptable in a changing environment.
  • Preferably experience of reviewing / checking work completed by colleagues.
  • People Manager experience advantageous but not essential

Being involved in GMP Rectification will provide you with insight into data management, support technical development of benefit calculations and provide early career opportunities to present reports to clients. Career development opportunities exist to complete other parts of the GMP Project work.

Reference: 42368396

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