Pensions Administrator

Roles and Responsibilities

Pension Administration:
Oversee the enrolment, contributions, and withdrawal processes of the various Pension Scheme for eligible employees, ensuring accurate and timely administration.

Compliance:
Ensure compliance with the Federal Law regarding pensions for UAE and GCC Nationals, regularly updating processes to reflect changes in legislation.

Liaison with Pension Authorities:
Act as the main point of contact between the company and the various Pension Authorities, ensuring smooth communication and resolving any pension-related issues.

Employee Support & Education:
Provide expert guidance and support to UAE and GCC National employees regarding their pension rights, entitlements, and any queries. Develop and deliver informational sessions or materials as needed.

Data Management:
Maintain accurate records of all pension-related activities, including employee eligibility, contributions, and benefit calculations. Ensure data is updated and managed in compliance with company policies and government requirements.

Reporting:
Prepare regular reports for management on pension contributions, liabilities, and compliance status. Support internal and external audits related to pension matters.

Stakeholder Collaboration:
Collaborate with HR, Payroll, and Finance teams to ensure that pension contributions are processed accurately and on time. Provide insights and recommendations for improving pension-related processes.

Continuous Improvement:
Stay updated on changes in pension regulations and best practices. Propose and implement improvements to the pension administration process to enhance employee experience and organizational efficiency.

Qualifications

• Must have a Bachelor's degree in Finance, Business Administration, or a related field.
• Minimum 2 years of experience in pension administration, with a focus on GCC Nationals’ pension schemes, good exposure to GPSSA and ADPF GOSI and compliance with pension regulations.
• In-depth knowledge of various pension schemes and laws, with up-to-date awareness of federal regulations and ongoing changes in pension programs.

Desired Candidate Profile

1. Pension Plan Administration and Management

• Plan Design and Implementation: Developing, reviewing, and managing pension plan designs (e.g., defined benefit plans, defined contribution plans, hybrid plans) to meet the needs of both the employer and employees.
• Contribution and Benefit Calculations: Ensuring the correct calculation of pension contributions, benefit payments, and ensuring that all statutory requirements are met.
• Plan Maintenance: Monitoring the ongoing operation of pension plans, updating them as needed, and ensuring they are well-managed and operating in line with the terms of the plan documents.
• Third-Party Coordination: Coordinating with external pension administrators, actuaries, custodians, and financial service providers.

2. Regulatory Compliance and Reporting

• Compliance with Pension Legislation: Ensuring that pension plans comply with national and international pension laws, tax laws, and regulatory standards.
• Governance and Risk Management: Advising on the governance structure of pension plans and ensuring that plans are adequately protected from potential financial or operational risks.
• Regulatory Reporting: Preparing and filing necessary reports for pension regulators, government agencies, and tax authorities.
• Audits and Reviews: Organizing and managing internal or external audits of pension schemes.

3. Pension Plan Communication and Employee Education

• Employee Communications: Communicating pension plan benefits to employees through presentations, meetings, or written materials.
• Pension Education and Guidance: Providing individual pension counseling to employees regarding retirement options and savings strategies.
• Benefit Statements and Updates: Ensuring that employees receive regular pension statements and updates.
• Workshops and Seminars: Organizing or leading educational seminars on retirement planning and investment strategies.

4. Investment Strategy and Fund Management

• Investment Management: Overseeing the investment strategy for pension funds, ensuring alignment with the objectives of the plan.
• Risk and Return Analysis: Evaluating the performance of pension funds and investment portfolios.
• Fund Selection and Monitoring: Researching and selecting appropriate investment funds and regularly reviewing fund performance.

5. Actuarial and Financial Analysis

• Actuarial Valuations: Collaborating with actuaries to conduct regular actuarial valuations of pension funds.
• Funding and Solvency: Analyzing the funding status of defined benefit plans to ensure adequacy of assets.