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Pensions Stereotype Breaker

When you think of pensions does your mind automatically assume you’ll be working at the post office? You may make the link with industries such as tax, and imagine a very corporate and (dare we say?) even slightly dull working life that’s just about processing a few documents.

Making sure people get hold of their hard-earned pension payments when the time comes is certainly part of it. But there’s a lot of work that needs to done before anyone gets to that point in this industry; and there’s a lot more to do than just paper-pushing! Let’s put the record straight…

P-p-p pick up a pension…

Of course, the majority of people start to pick up their pensions in their later years once they’ve retired – and there are plenty of jobs in this industry concerned with making sure this happens in an administrative sense. However, in this industry it’s likely you could be helping people of various ages – not just those who have retired. You could advise graduates starting out in their first role in their career, to senior employees who have started with a company and need to negotiate their pension and benefits package.  

The pensions industry can be quite a corporate environment, especially if you are working as part of an in-house finance department for a large company or organisation. However, this by no means implies that the work is dull! Each individual case is different, and pensions professionals often have to liaise with various different parties, for example the employee, trustees (representatives of a pension scheme’s members) and the employer, to determine what everyone wants to achieve with the benefits packages. So it’s not just about administration. There is also call for negotiation, mediation and management, particularly in pension scheme management roles.

Pensions experts can also help individuals to set up private pension schemes of their own. There’s great variety in advisory roles; everyone has different requirements – particularly if you work for a specialist pensions company.

Something for the mathematically minded…

Actuaries play a big part in pensions, so there’s plenty of room to build up an actuarial career in this industry too. Again here, every case is different and will require different models to develop and risks to calculate, so actuaries are kept on their toes!  

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