Senior Associate - Pension Services

Job Description

Senior Associate - Pension Services Back to job search results Tesco India Bengaluru, Karnataka, India Hybrid Full-Time Permanent Apply by 17-Jun-2025 About the role Manage and Administer defined benefit pension schemes for the Trustee of the Tesco PLC Pension Scheme Providing accurate and efficient administration services. Handling member queries, processing benefits, ensuring regulatory compliance, and delivering excellent service to members. Support timely pension scheme operations, conduct data validation, quality checks, reconciliations. Additionally, support large-scale projects, including data exercises, member communications, and system upgrades. What is in it for you At Tesco, we are committed to providing the best for you. As a result, our colleagues enjoy a unique, differentiated, market- competitive reward package, based on the current industry practices, for all the work they put into serving our customers, communities and planet a little better every day. 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 wellness including insurance for colleagues and their family. Our medical insurance provides coverage for dependents including parents or in-laws. Mental Wellbeing - 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 Wellbeing - Through our financial literacy partner, we offer one-to-one financial coaching at discounted rates, as well 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 Wellbeing - Our green campus promotes physical wellbeing 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 Following Business Code of Conduct and always acting with integrity and due diligence and have these specific risk responsibilities: - Understands business needs and in depth understanding of Tesco processes - Builds on Tesco processes and knowledge by applying CI tools and techniques. - Responsible for completing tasks and transactions within agreed KPIs - Solves problems by analyzing solution alternatives -Scheme Administration: Process complex pension calculations 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. You will need Support internal and external audits by providing necessary documentation and addressing queries related to scheme administration. Maintain a working knowledge of pension legislation, regulatory changes, and updates to ensure accurate administration. -Data Management and Reporting: - Group Pensions Services Conduct routine data validation, quality checks, and reconciliations to maintain accurate scheme data and resolve discrepancies. - TBS Functional team Support data migration and cleansing activities for system upgrades or transfers. - Internal / External auditors Supporting all processes to maintain Data Compliance and minimise escalations and complaints. -Process Improvement: Identify and suggest improvements to streamline administrative processes and enhance service delivery. Document procedures and update administration manuals to reflect current practices and regulations. Highlight any Risk and Compliance issues identified to Management for mitigation. -Project Support: Participate in project work such as bulk data exercises, member communication campaigns, or system upgrades as required. Collaborate with the wider pension administration team on large-scale projects, ensuring deadlines and quality standards are met. Operational skills relevant for this job: -Scheme Governance and Compliance: Experience relevant for this job: Support the implementation of Trustee and scheme policy changes, ensuring accurate application within scheme operations. -Knowledge of defined benefit pension schemes, including -Essential: benefit structures, calculation methodologies, and -Graduates level education (Commerce preferred) scheme-specific rules, Member Service Orientation -Preparation of calculations & official correspondence (Email and -Adv MS Office - Excel, Word, letter writing) Basic PowerPoint - Experience in pension scheme administration (defined benefit / Eye-to-Detail de fined contribution), prefer min. 1-2 years. Desirable Planning & Organising Understanding of pension scheme rules (defined benefit / Process Mapping Tools and Techniques defined contribution). Competency in pension administration software and Microsoft About us Tesco in Bengaluru is a multi-disciplinary team serving our customers, communities, and planet a little better every day across markets. Our goal is to create a sustainable competitive advantage for Tesco by standardising processes, delivering cost savings, enabling agility through technological solutions, and empowering our colleagues to do even more for our customers. With cross-functional expertise, a wide network of teams, and strong governance, we reduce complexity, thereby offering high-quality services for our customers. Tesco in Bengaluru, established in 2004 to enable standardisation and build centralised capabilities and competencies, makes the experience better for our millions of customers worldwide and simpler for over 3,30,000 colleagues. Tesco Business Solutions: Established in 2017, Tesco Business Solutions (TBS) has evolved from a single entity traditional shared services in Bengaluru, India (from 2004) to a global, purpose-driven solutions-focused organisation. TBS is committed to driving scale at speed and delivering value to the Tesco Group through the power of decision science. With over 4,400 highly skilled colleagues globally, TBS supports markets and business units across four locations in the UK, India, Hungary, and the Republic of Ireland. The organisation underpins everything that the Tesco Group does, bringing innovation, a solutions mindset, and agility to its operations and support functions, building winning partnerships across the business. TBSs focus is on adding value and creating impactful outcomes that shape the future of the business. TBS creates a sustainable competitive advantage for the Tesco Group by becoming the partner of choice for talent, transformation, and value creation Apply