Investing in future pension administrators

by Troy Ramsey   •  

The role of the pension administrator has never been more important. With increased attention to data quality, the services being provided to members and projects such as Guaranteed Minimum Pension equalisation, having an effective pension administration team is essential. Investing the time and training into employees starting their career within the pension industry lays the foundations for the future of effective administration teams.

Trained to PASA standards

Having started my career with Spence and completed our pension management graduate programme, I have been fortunate to learn from day one the important role pension administration has to play in ensuring the optimal outcome for both clients, and their members. I have benefitted directly from first-class procedures and training that echo the high standards the Pension Administration Standards Association (PASA) expects of its accredited members, such as Spence.

The three-year graduate programme enabled me to develop the technical and soft skills necessary to provide high standards of pension administration. Having progressed from learning the basics of how pension calculations and scheme structures work, I now have responsibility in a senior role for overseeing the deliverance of our administration service for several clients. This has been enhanced through continued encouragement to pursue professional qualifications with the Pension Management Institute.

Member focussed

There is a common thread running throughout my pension administration journey so far. Everything we do as pension administrators should enhance the service provided to members and ensure that their experience is made as effortless as possible.

I regularly interact with members and know first-hand the appreciation that is felt when they receive a first-class service. Every member should be entitled to the highest possible standards from their pension administrator, which can be achieved if the right training and procedures are in place to develop a knowledgeable and dedicated team.

Providing a high-quality administration service should be the cornerstone for all pension schemes, which means it is vital to invest in the next generation of pension administrators.

Our graduate development programme instils the core principles that both we, and PASA, expect of a pension administrator. Having benefitted from being part of the programme, I look forward to playing my part in contributing to the development of new and future graduates, to ensure that we maintain our high standards and that we continue to put the needs of the member first.

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