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Pensions Adviser/Manager

Do you want to become a Pensions Adviser/Manager? Here is some information to help point you in the right direction:

Job Description - Print Page

Personal pensions advisers help private clients to select the most appropriate pension to save for their retirement. Consultancies working with corporate institutions offer the services of pension scheme advisers and managers to advise trustees. Pensions managers oversee larger teams of pension advisers, ensuring schemes operate effectively and meet compliance standards.

Personal pensions advisers and consultants both:

• examine the different pension options, creating packages for clients 
• make adjustments to schemes when circumstances change
• communicate legislative changes to pension rules.

Those advising on personal pension schemes divide into three groups - tied advisers, linked directly to one financial provider, multi-tied, linked to a number of providers, and independent financial advisers (IFAs), who research the whole pension market.

Pensions advisers working for a consultancy or employed by one financial provider usually work 40 hours a week, from Monday to Friday. Independent advisers frequently work during evenings and weekends to fit around their customers' schedules.

Salaries range from around £14,000 to over £62,000 a year. With bonuses, skilled senior managers may earn in excess of £100,000 a year.

A pensions adviser/manager needs:

• good verbal and written communication skills
• to be methodical and analytical
• excellent record-keeping skills
• a thorough understanding of all financial products
• to be interested in investments and the financial services market.

Employers include banks, and pension, actuary, accountancy, benefits and insurance firms. Candidates with pension specific experience are in short supply in the personal advice field. There are opportunities across the UK. 

There are no set entry requirements, although many employers expect some GCSEs/S grades (A-C/1-3). However, consultancies appointing scheme advisers usually recruit graduates. All pensions advisers and managers are required to pass appropriate exams before advice can be given. There is no upper age limit for entry.

Training is a combination of practical experience and professional qualifications. There are many options available, depending on the field of advice. Some subject areas require specialist training.

Promotion may be possible to a mangerial role. Personal advisers may also become self-employed.

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