Managing the day to day operations of workplace pension schemes, providing information to clients and organisations.
Overview
This Advanced workplace pensions (administrator or consultant) apprenticeship standard will provide you with a level 3, qualification. This apprenticeship standard was approved on the 27/08/2015 and typically takes 18 months to complete. However, it is important to note that the duration of the apprenticeship standard stated does not include the End-Point Assessment period.
What the course covers
This apprenticeship standard provides the structure and guidance for two apprenticeship routes, both related to the operations and knowledge of workplace pension schemes. Those who work in workplace pensions can do this either as an inhouse role for an organisation or for an external pensions company who take on a portfolio of clients, both organisations and individuals.
The first of the two apprenticeship options are Workplace pension administrators. In this role you are responsible for managing the day to day operations of pension schemes, usually supporting more senior administrators in a variety of administrative tasks. You will be assisting with a wide range of jobs including, but not limited to:
- Producing quotations
- Setting up benefits for members including retirement, death, and leaving the job early
- Maintaining workplace pension cashbooks and drafting reports for clients based on collated information
As well as these, Administrators may also be responsible for managing data systems and member records, responding to any pension enquires within the organisation and providing details of various pension benefits.
Alternatively, workplace pension consultants provide specialist support to all kinds of organisations who are trying to pick and run a pension scheme. Within this role, you will have lots of client interaction as well as working in a team with more experienced colleagues. Some of your daily duties may include assisting and advising pension scheme sponsors as subject matter experts, setting the agenda for Trustee meetings and working in collaboration with others such as legal advisers.
Careers and jobs associated
- Workplace pensions administrator
- Workplace pensions consultant.
Visit the workplace pensions (administrator or consultant) apprenticeship standard, on the Institute for Apprenticeships site, to find further information on skills and knowledge learnt, assessment methods and more.
