GC Education & Skills Business | Pensions Administrator Level 3

Pensions Administrators play a vital role in supporting the management of pension schemes. They assist with day-to-day operations, including producing quotations, setting up benefits for members, and handling transfers in and out of the scheme. They also manage financial tasks such as reconciling bank statements, maintaining cash books, and preparing cash-flow forecasts.

In addition to administrative duties, pensions administrators ensure members receive accurate pension data, respond to inquiries, and update member records with relevant information. They work closely with senior administrators, managing their own workload while contributing to excellent customer service and smooth scheme operations.

Key Facts

Duration

14 Months

Funding Band

£9,000

Delivery Location

National

Qualification

On successful completion, apprentices will achieve a Pensions Administrator Level 3 Apprenticeship.

Apprenticeship details

The Pensions Administrator Level 3 Apprenticeship equips apprentices with the advanced skills, knowledge, and behaviours needed to thrive in pension administration roles. This apprenticeship builds on foundational knowledge, preparing individuals to manage more complex pension tasks and contribute effectively to the smooth operation of pension schemes within an organisation.

What it covers:

The Pensions Administrator Level 3 Apprenticeship covers a wide range of skills and knowledge essential for managing pension schemes effectively, including:

Administering pension schemes and setting up member benefits, such as retirement, death, and leaving service benefits
Maintaining financial records, including cash books, reconciling bank statements, and preparing cash-flow forecasts
Updating and managing member records, such as salary details and changes in personal information like address or marital status
Interpreting pension scheme data and ensuring compliance with regulations to maintain accurate benefits payable
Responding to member inquiries, including fund valuations and information on investment options

This apprenticeship prepares apprentices to manage the daily tasks of pension administration while delivering excellent service to both members and the organisation.

Delivery

A Skills Development Tutor will be allocated to the apprentice and will deliver learning and assessment sessions with them on a regular basis, liaising with their work-based mentor to monitor progress.

Entry requirements

Applicants must hold a minimum of Level 2 in maths and English or equivalent.

Additionally, they must be employed in a relevant role.

Progression

After completing the Pensions Administrator Level 3 Apprenticeship, apprentices can progress to higher levels of study. They can also move into senior roles like Senior Pensions Administrator or Pensions Manager, specialise in areas like pension consultancy or compliance, or explore broader career opportunities in financial services.

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