Associate - Pension Services

Job Description

Our Tesco Rewards framework consists of pillars - Fixed Pay, Incentives, and Benefits. Total Rewards offered at Tesco is determined by four principles - simple, fair, competitive, and sustainable. Salary - Your fixed pay is the guaranteed pay as per your contract of employment. Performance Bonus - Opportunity to earn additional compensation bonus based on performance, paid annually Leave & Time-off - Colleagues are entitled to 30 days of leave (18 days of Earned Leave, 12 days of Casual/Sick Leave) and 10 national and festival holidays, as per the company s policy. Making Retirement Tension-FreeSalary - In addition to Statutory retirement beneets, Tesco enables colleagues to participate in voluntary programmes like NPS and VPF. Health is Wealth - Tesco promotes programmes that support a culture of health and we'llness including insurance for colleagues and their family. Our medical insurance provides coverage for dependents including parents or in-laws. Mental we'llbeing - We offer mental health support through self-help tools, community groups, ally networks, face-to-face counselling, and more for both colleagues and dependents. Financial we'llbeing - Through our financial literacy partner, we offer one-to-one financial coaching at discounted rates, as we'll as salary advances on earned wages upon request. Save As You Earn (SAYE) - Our SAYE programme allows colleagues to transition from being employees to Tesco shareholders through a structured 3-year savings plan. Physical we'llbeing - Our green campus promotes physical we'llbeing with facilities that include a cricket pitch, football field, badminton and volleyball courts, along with indoor games, encouraging a healthier lifestyle. You will be responsible for - Identifying operational improvements and finding solutions by applying CI tools and techniques - Responsible for completing tasks and transactions within agreed KPIs - Knows and applies fundamental work theories/concepts/processes in own areas of work -Scheme Administration: Process and validate a wide range of member events including retirements, deaths, transfers, pension increases, and member benefit calculations. Ensure all calculations, adjustments, and data entries comply with scheme rules, legislation, and company procedures. Update and maintain accurate records on pension administration systems, ensuring data integrity and accuracy. Adhere to the agreed Service Level Agreements and meet the defined measures of success. -Member Services: Respond to member (and their representatives) queries via email or written correspondence, delivering excellent customer service and adhering to response timeframes and statutory deadlines. Provide clear and accurate information to members regarding their benefits, options, and scheme rules. Generate statements, letters, and other communications to members, ensuring clarity and compliance with the scheme requirements. Compliance and Regulatory Adherence: Ensure all tasks comply with relevant regulations, including The Pensions Regulator s requirements, HMRC regulations, and GDPR. Maintain a working knowledge of pension legislation, regulatory changes, and updates to ensure accurate administration. -Process Improvement: Key people and teams I work with in and outside of Tesco: People, budgets and other resources You will need Identify and suggest improvements to streamline administrative processes and enhance service delivery. Highlight any risk and compliance issues identified to management for mitigation. Support the implementation of Trustee and scheme policy changes, ensuring accurate application within scheme operations. Knowledge of defined benefit pension schemes, including Graduates level education (Commerce preferred) benefit structures, calculation methodologies, and Preparation of calculations & official correspondence (Email and scheme-specific rules, Member Service Orientation letter writing) Experience in customer service-based environment (prefer min. Basic MS Office - Excel, Word 1 year)