What is the background to this programme?
Workplace Pensions Administrators play a critical role in managing the day to day operation of workplace pension schemes. They are likely to be involved in a variety of tasks supporting more senior administrators which may include: producing quotations, maintaining cash books, drafting Administration reports for clients, and responding to member enquiries.
Workplace Pensions Consultants is likely to be involved in a variety of client support activities including governance, strategy and management, and supporting more experienced colleagues. Tasks may include: assisting/advising pension scheme sponsors and Trustees, agenda setting for Trustee meetings, communications to members and assisting in the governance of a pension scheme.
What qualification is achieved?
The apprentice will complete at least one of the following qualification/examinations:
Chartered Insurance Institute – Award in Financial Administration (Pensions option), Certificate in Financial Services, Certificate in Life and Pensions
Pensions Management Institute – Award in Pensions Essentials, Retirement Provision Certificate; Certificate in
Pension Scheme Member Guidance; Certificate in Pensions Essentials; Certificate in Pensions Administration; Certificate in Pension Calculations; Diploma in Pensions Administration; Advanced Diploma in Retirement Provision
Chartered Institute of Payroll Professionals – Certificate in Pensions Administration
What is covered?
- Workplace pension schemes – Broad understanding of the workplace pension schemes structure and different roles involved in running a scheme.
- Systems and processes – Understanding all systems and processes used in the role together with the standards that need to be met.
- Business awareness – Understanding their organisation’s business strategy, culture and role within the sector. Awareness of how their own role fits within the wider organisation and industry.
- Regulatory and compliance – Understanding the regulatory and legislative environment for workplace pensions and the impact of this on the role. Understanding the difference between providing information, guidance and advice.
