Senior Pensions Administrator Salary
With over three-quarters of Senior Pensions Administrators in the United States reporting more than 10 years of experience in the field, this area is heavily weighted toward experienced professionals. Pay ranges from $45K to $91K per year and averages out to $70K annually. Female Senior Pensions Administrators make up most of the survey respondents at 77 percent. A strong majority report receiving medical coverage from their employers and the greater part collect dental insurance. Most Senior Pensions Administrators like their work and job satisfaction is high. The information for this snapshot was generated by responses to the PayScale salary survey.
|Salary||$49,435 - $87,429|
|Bonus||$-0.50 - $8,081|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$46,734 - $91,231|
|Bonus||$-0.50 - $8,081|
|Total Pay (||$46,734 - $91,231|
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. (Copyright 2017 PayScale.com)
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
Pay by Experience Level for Senior Pensions Administrator
Pay by Experience for a Senior Pensions Administrator has a positive trend. An entry-level Senior Pensions Administrator with less than 5 years of experience can expect to earn an average total compensation of $56,000 based on 7 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Pensions Administrator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $58,000 based on 13 salaries. An experienced Senior Pensions Administrator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $69,000 based on 18 salaries. A Senior Pensions Administrator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $71,000 based on 15 salaries.
Key Stats for Senior Pensions Administrator
Rated 5 out of 5
based on 6 votes.