Pensions Consultant - Scheme Benefits

Summary: The Pensions Consultant - Scheme Benefits role is a remote position focused on analyzing scheme benefits and documentation for Bulk Purchase Annuities (BPA) projects. The consultant will be responsible for deep analysis of scheme documentation, producing essential documents, and collaborating with data teams. This is a 6-month contract position classified as inside IR35. The role requires strong technical knowledge of pensions, particularly defined benefit schemes and GMP equalization.

Key Responsibilities:

• Deep analysis of scheme documentation, including:
  • Benefit Specification packages (Ben Specs)
  • Addendums eg, GMP equalisation addendums
• Produce:
  • Scheme Structure Document (sections, subsections, membership categories, tranche splits, data requirements)
  • Benefit Basis Document (all calc methodologies for DB scheme processes)
• Identify gaps and raise queries via Benefit Basis Issues Log with trustees, clients, and administrators.
• Provide manual calculations to evidence understanding and validate benefit basis detail.
• Collaborate with the data team to define data requirements essential for system automation.

Key Skills:

• Strong pensions technical knowledge, particularly:
  • DB schemes
  • GMP/GMP Equalisation
  • Tranche splits (pre/post-88 GMP, pre/post-97, Barber, etc.)
  • Benefit payment ages (NRA, LRA, BPA, etc.)
  • Revaluation and annual pension increase rules
• Regular hands-on experience reading and interpreting Ben Specs
• BPA (Bulk Purchase Annuities) - Desirable

Salary (Rate): £520 per day

City: undetermined

Country: UK

Working Arrangements: remote

IR35 Status: inside IR35

Seniority Level: undetermined

Industry: Other

Detailed Description From Employer:

• Pensions Consultant - Scheme Benefits
• Remote role
• 6 month contract
• Inside of IR35
• £520 per day Umbrella

Focus: Scheme Benefits Analysis, Scheme Structure, and Benefit Basis documentation for BPA (Bulk Purchase Annuities) projects.

Core Responsibilities

• Deep analysis of scheme documentation, including:
  • Benefit Specification packages (Ben Specs)
  • Addendums eg, GMP equalisation addendums
• Produce:
  • Scheme Structure Document (sections, subsections, membership categories, tranche splits, data requirements)
  • Benefit Basis Document (all calc methodologies for DB scheme processes)
• Identify gaps and raise queries via Benefit Basis Issues Log with trustees, clients, and administrators.
• Provide manual calculations to evidence understanding and validate benefit basis detail.
• Collaborate with the data team to define data requirements essential for system automation.

Essential Skills & Experience

• Strong pensions technical knowledge, particularly:
  • DB schemes
  • GMP/GMP Equalisation
  • Tranche splits (pre/post-88 GMP, pre/post-97, Barber, etc.)
  • Benefit payment ages (NRA, LRA, BPA, etc.)
  • Revaluation and annual pension increase rules
• Regular hands-on experience reading and interpreting Ben Specs
• BPA (Bulk Purchase Annuities) -Desirable

If you are available and interested, please apply today!

Guidant, Carbon60, Lorien & SRG - The Impellam Group Portfolio are acting as an Employment Business in relation to this vacancy.