Pensions Manager

Abingdon Road, Culham, Abingdon, Oxfordshire
Full-time
Salary: £46,293 + excellent benefits including outstanding pension
Division: Finance, Systems & Pensions
Site Location: UKAEA Culham, Oxfordshire
Confirmed Grade: Level 5
Department: Finance & Pensions

Company Description

By 2050, the planet could be using twice as much electricity compared to today. Are you interested in contributing and helping to shape the future of the world’s energy? If so, read on.

Fusion, the process that powers the Sun and Stars, is one of the most promising options for generating the cleaner, carbon-free energy that our world badly needs.

UKAEA leads the way in realising fusion energy, partnering with industry and research for groundbreaking advancements. Our goal is to bring fusion electricity to the grid, supported by tomorrow's power stations. In pursuit of our mission, UKAEA embraces core values: Innovative, Committed, Trusted, and Collaborative.

As an employee of UKAEA, you will benefit from:

- Outstanding defined benefit pension scheme, details of which can be found at the end of this advert.
- Corporate bonus scheme of up to 7% and a Relocation allowance (if eligible).
- Flexible working options, including family-friendly policies and the right to request flexible working from the start of your employment.
- Employee Assistance Programme and trained Mental Health First Aiders.
- Generous annual leave allowance starting with 25 days, plus 3 days of Christmas closure and 2.5 privilege days, in addition to UK bank holidays.
- Wide range of career development opportunities.
- A vibrant culture committed to equality and being fully inclusive.

The salary for this role is £46,293

Job Description

UKAEA’s pay arrangements and grading structure are currently under review as part of a transformation project and proposed multi-year pay deal. UKAEA aims to introduce a new grading structure in 2024. This will enable us to lead the delivery of sustainable fusion energy and maximise the scientific and economic benefits. Now is a great time to join the Organisation and be part of the journey.

This role requires employees to complete an online Baseline Personnel Security Standard (BPSS), including The Disclosure & Barring Service (DBS) checks for criminal convictions.

The Role

Are you looking for an exciting opportunity to make a difference? Join our team and contribute to the future of fusion energy.

As the Pensions Manager, you will play a pivotal role in ensuring the day-to-day running of the pension scheme on behalf of the participating employers (18, with 7 of these active employers). The pensions team is responsible for spending £275m on benefits and collecting £51m in income.

You will act as the main point of contact for employers, administrators, and other stakeholders, ensuring pension information on the UKAEA intranet remains up-to-date and relevant for members.

The Pensions Manager will manage the governance arrangements for the pension scheme, ensuring that the Pensions Oversight Board operates as expected and receives the right reporting and papers.

You will support the head of pensions on major change projects, including the planned move to alpha, GMP, dashboards and procurements, whilst deputising where necessary for the head of pensions.

You will be required to work freely and confidently to make sound decisions, especially when improving operational efficiency.

Additional Responsibilities:

- Improving operational efficiency and acting with the pension scheme's authority in defined areas (e.g., challenging performance).
- Acting as the main pensions lead for UKIFS, a UKAEA subsidiary in the scheme.
- Managing the governance arrangements for the pension scheme, ensuring that the Pensions Oversight Board operates as expected and receives the right reporting and papers.
- Liaising with the following stakeholders: employers, the pensions administrator, auditors, HMRC, members, the pension regulator, actuaries, scheme medical advisers, and wider government stakeholders (including DESNZ). Depending on the nature of the work, this will either involve leading meetings or supporting the head of pensions.
- Manage historic compensation cases and process insurance claims.

Qualifications

Essential Requirements:

Demonstrable experience needed in at least two of the three following areas:

Pensions technical/administration:

- Experience of calculation of benefits.
- Communicating with members.
- Processing work orders and answering technical queries.

Pensions governance:

- Acting as secretary to pensions boards (or equivalent).
- Supporting boards in organising meetings and papers.
- Minute taking.
- Other board support.

Pensions specialist:

Likely to be a wide-ranging role within pensions, involving areas such as

- Finance/audit
- Payroll
- Contract management change
- Consulting
- Engagement.

This is not an exhaustive list, but the applicant should detail any pension experience and its relevance to the job.

Additional Information

A full list of our benefits can be found on our website.

We welcome applications from under-represented groups, particularly individuals from black and other ethnic minority backgrounds, people with disabilities, and women. Our Executive team, supported by our 'Equality, Diversity and Inclusion' (EDI) Partner and Inclusion Ambassadors, actively promotes EDI and takes steps to increase diversity within our organisation. We reinforce best practices in recruitment and selection and evaluate approaches to remove barriers to success.

Please note that vacancies are generally advertised for 4 weeks but may close earlier if we receive a large number of applications.