General Accountability

The Pension Associate is responsible for providing assistance at the paraprofessional / administrative level in respective to the administration of the UTC Pension Plan.

 

Key Responsibilities

 

Perform and execute a variety of administrative duties relating to pension function in accordance with Pension Rules & Guidelines.

 

• Review all documents submitted upon joining the plan ensuring it meets the pension rules requirements.

 

• Review salary data to ensure it is correctly transported from the Employee Central interface.

 

• Enter all relevant pension data on Payroll System.

 

• Maintain accurate records of monthly pension contributions.

 

Assist the Pension Specialist in the preparation of financial statements and monthly management reports to facilitate the annual audit of the HR related data for the Trustees and Fund Accounting Unit.

• Collate financial and non-financial data to support the preparation of the annual and semi-annual financial statements.

 

• Organize and maintain accurate and current records to facilitate the auditing process by External Auditors.

 

• Reconcile and calculate the All-Staff Market Value of the Pension Fund to ensure no breaches occurred. Generate monthly activity reports for management and trustees.

 

Process Pension refunds, transfers and pensioners’ benefits and payroll.

• Assist with the calculation and preparation of pension refunds for approval which involves the following:
  • PAYE liability
  • Employee’s net refund

 

• Preparing pensioners’ benefits for approval which involves the following:
  • Cash lump sum and additional lump sum benefits
  • Monthly pension
  • Other benefit deductions such as Group Health and Life Plan (GH&LP)
  • PAYE cheques

 

• Submit relevant pension data to the Payroll Unit for the processing of pensioners’ payroll.

 

• Preparing instruction for remittances of PAYE and Group Health and Life contributions for retirees.

 

Respond to employees’ issues/inquiries regarding pension accounts and the status of the fund. Create, enrol, update, and maintain the     pension information database and filing system. Prepare and dispatch employee pension benefit statements.

• Serving as an internal consultant to employees on pension matters
• Maintain proper, accurate and current pension records.
• Preparation and dissemination of employees’ pension funds.

 

The selected candidate must possess the following combination of qualifications, skills, training, and experience:

• Passes in five (5) GCE Ordinary Level/ CXC / CSEC Ordinary Level subjects including English Language and Mathematics at General Proficiency Grades 1, 2 or 3 with a maximum of 2 subjects at Grade 3 and two (2) GCE/CAPE Advanced Level subjects.
• Minimum of two (2) years’ experience in a similar role preferably at a financial institution. Suitable combination of training and experience
• High confidentiality and integrity
• Passion for delivering excellent customer service
• Ability to work independently and in teams
• Strong interpersonal, communication and organizational skills
• Ability to analyze and interpret information and data received
• Excellent telephone and office etiquette
• Knowledge of Microsoft Office Suite of Products

 

All applications to be submitted by March 05, 2025.