Pension Administrator Review

An eight week internship introducing pension administration for DB pension schemes. Includes membership record keeping, benefit calculations and payments including electronic payments, regulatory reporting including e-filing, running pensioner payroll, preparing transfer packs/ quotes for members, preparing retirement quotes for members, closing pensions on the death of a member, spouses pensions on death, address updates, contact details updates and general scheme queries. There is also a telephone helpline we monitor to answer member questions over the phone.

I have definitely learnt a lot about DB pension schemes. Including benefit options members can take at retirement, and what factors affect these benefits. I have learnt about the risk of pension transfers and pension scams and what checks we do to do prevent pension scams. I have learnt how to communicate professionally in emails and phone calls to members/ customers. I have also developed my time management skills, ensuring all my tasks are completed on time to help improve team SLAs.

Even over just an 8 week internship I was given responsibility by sending emails and letters to members/ customers, answering pension and scheme queries. I also put some transfer packs and retirement quote packs together for members, which all got reviewed and checked by a senior member of the team before issuing. There is a lot of checking/ reviewing of work before information goes out to the member. This is great at the beginning when I am learning.

I was in a great team, very supportive and friendly, even though I was not there long! Very willing to sit with me and explain technical knowledge and tasks. Also received support from the training team ensuring I had access to all the training I needed and enrolling me on training courses/ training days which were very useful. I also received support and training from members of other teams. Even some partners of the firm held some sessions with the interns with an opportunity to ask questions and receive guidance.

Very friendly, positive, supportive environment. Everyone willing to help and genuinely lovely people. Strong focus on producing good quality work for clients/ members. Lots of training and support to make this happen. During my 8 week internship there was a netball tournament where each office put forward mixed teams. This was great fun and allowed me to talk to other members of the company, based around the UK, who I would not have usually worked with.

I really enjoyed my internship at Barnett Waddingham. I have learnt a lot of technical knowledge and professional soft skills. I really like the culture and the people. There is a good range of training and generous support for exam study. Good location for me, and it was nice being in the office everyday. I find this makes learning easier, when the team is around you to ask questions. I would love to come back here for a longer term role in the future.

Yes

Make sure you know what services Barnett Waddingham offer. Their values are important as well. Be positive and show positive behaviour if you get an interview/ assessment day. If you are new to pensions, do some research into DC and DB pensions. Find out what is going on in the current market economy which may affect BW or pension schemes. Prepare well to help your nerves on the day (interview/ assessment day). Remember to smile and be yourself.