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Pensions jobs guide

Those in pensions jobs are working to manage, promote and administer employee pension schemes, and this includes a duty to educate staff members on the importance of saving for retirement. Nearly all major employers, both private and public, offer pension schemes to their employees, and a recent change in the law has meant that all employers must now provide a basic pension offering for eligible employees.

For this reason, pension jobs are an extremely important part of the strength of the economy, and the impact on many peoples’ lives.

There are a number of levels of job that can be worked in pensions jobs, which can be found in a range of different areas. These include:

• Pension departments of companies where the company’s own scheme is run.

• Benefits and actuarial firms are in place to give advice to businesses that have pension schemes.

• Specialist services are available as advisers and offer services like administration that is outsourced.

• Insurance companies where a lot of pension work can be found.

• Government agencies need an increasing number of experienced pension jobs workers.
» Read more: Pensions jobs guide

Pension cuts proposed for university staff

A quarter of a million workers at 400 universities, higher education colleges and associated institutions face cuts in their pensions. A range of changes to members of the Universities Superannuation Scheme (USS) are being proposed to cut a £17bn fund deficit. They include raising the pension age and increasing the amount members must contribute.
» Read more: Pension cuts proposed for university staff

Pension age: Ministers to speed up rise to 66

The government is planning to speed up the state pension age for men to 66, possibly by as early as 2016. Ministers will also raise the option of extending it further, perhaps to 70 and beyond in the following decades. The default retirement age of 65 - at which workers can be legally axed by employers - is also set to be axed. Deputy Prime Minister Nick Clegg said this would stop people being "cast on the scrap heap" and would help "reinvigorate what retirement means".
» Read more: Pension age: Ministers to speed up rise to 66

Pensions and Life Assurance

If you choose a career in pensions and life assurance, you could work at a range of levels, including administrator, advisor and manager. If you choose to work as a pension’s manager, you'll work for a company ensuring that their pension schemes are run effectively. Your tasks will include managing a team, processing claims and settling disputes, investing your company's funds, planning new pension schemes, marketing, preparing annual reports and making sure that the standards of the Financial Services Authority (FSA) are met.
» Read more: Pensions and Life Assurance

The truth about Pensions

Basic State Pension, Q&A
What is the basic state pension?
The basic state pension is paid to men at 65 and women at 60, who fulfil National Insurance (NI) contribution requirements. From 6th April 2020, the state pension age for both men and women will be 65. The government will introduce the retirement age gradually from age 60 to 65 for women over a 10-year period from 2010 to 2020
» Read more: The truth about Pensions

M&S plans pension fund bail-out

Marks and Spencer has announced plans to inject £800m into its final salary pension scheme in an attempt to fill its growing funding gap. The idea is that M&S will be making cash contributions to the scheme totalling about £376m over the next eight years, as well as other investments.
» Read more: M&S plans pension fund bail-out

Pensions Job Description

Pensions jobs require the responsibility of making sure that company pension schemes are working properly. The pension fund that has been accumulated by staff and company payments will be managed by someone in a pension job.
» Read more: Pensions Job Description