Senior Pensions Administrator Salary
Senior Pensions Administrators who are practiced in their profession and carry more than 10 years of experience make up approximately three in four of Senior Pensions Administrators. Pay fluctuates from $47K to $87K per year, but expected earnings average $69K per year. A fair number enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Among survey respondents, women are more common than men; 85 percent of Senior Pensions Administrators are female. Most Senior Pensions Administrators report high levels of job satisfaction.
Job Description for Senior Pensions Administrator
Senior pension administrators have several job responsibilities, but they generally oversee the administration of retirement plans. They review records for these plans and make sure that they are up-to-date and comply with federal regulations. They are concerned with the normal operation of the plan, including customer service and billing. On occasion, they may work with clients to make the plan more personalized for the individual. For instance, they may assist in deciding on benefit distribution.Read More...
The minimum education required for this position is a bachelor’s degree and five years of experience in a related field. Employers also look for someone who is knowledgeable about a range of the policies and procedures involved in this type of work, since senior pension administrators often rely on their own judgment to make recommendations to clients and accomplish their goals.
Senior pension administrators are often considered first line management, so they may oversee a team and give them direction in their own work. At times, senior pension administrators may take part in training new hires in the field. In addition to being familiar with the laws and procedures governing these plans, anyone interested in this position should be independent and creative and know how to take initiative. A lot of the work will be self-directed, although typically, a senior pension administrator does report to a manager. Senior pension administrators must also have great research, critical thinking, and communication skills. A proficiency with Microsoft Word and Excel is a bonus.
Senior Pensions Administrator Tasks
- Process financial statements and keep beneficiaries informed about changes to their retirement plan.
- Oversee the administration of a company's retirement plan.
- Conduct audits and ensure plan is in compliance with government regulations.
- Facilitate communication between individual plan holders, financial advisors, and investors.
Senior Pensions Administrator Job Listings
Search for more jobs:
Pay by Experience Level for Senior Pensions Administrator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Senior Pensions Administrators, experience does not seem to be a major factor in determining pay. The average inexperienced worker earns $56K, and someone who has worked for five to 10 years can expect a bigger median salary of $60K. The average pay reported by folks with 10 to 20 years of experience is around $68K. Senior Pensions Administrators with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $70K.
Key Stats for Senior Pensions Administrator
Rated 4 out of 5
based on 7 votes.