Pension Services Administrator

SUMMARY:
Responsible for all administration relation to payment and processing of pensions and administration of pensioner medial aid

POSITION INFO:

1.
Payment of Pensions
â–ª Process all monthly pension payments in terms of Fund Regulations.
â–ª Process all monthly pension payments for in-fund living annuitants
â–ª Ensure that monthly reconciliations are performed to ensure that payments replicate payment schedule
â–ª Ensure that remittance advices are generated and dispatched
â–ª Processing and settling of lump sum benefits for death of a pensioner
â–ª Process IRP 5 and other tax documentation ensuring that annual and ad hoc reconciliations are carried out.
â–ª Ensure that payments comply with SARS regulations and that monthly tax are reconciled and submitted timeously
2.
Medical Aid Processing
â–ª Make medical aid deductions and payments timeously
â–ª Reconcile all medical aid deductions to medical aid scheme schedule
â–ª Process changes to medical aid deductions as required
â–ª Ensure that all medical aid deductions are reflected on returns
3.
Processing of Pension Increases
â–ª Process all pension increases in terms of Board of Management minute
â–ª Reconcile increase schedules to ensure accuracy
â–ª Process payments on due date
4.
Declarations
â–ª Issue Declarations of Existence and reminders to Pensioners monthly.
5.
Reporting and Performance Management
â–ª Participate in daily operations meetings
â–ª Participate in Fund performance management systems
â–ª Report on all processes and any reconciliations and any variances and reasons for variances in accordance with Operational requirements.
6.
Document Management
â–ª File all documents in terms of Fund policy
â–ª Backups all data are carried out in terms of Fund policy.

PREFERRED QUALIFICATION: NQF level 5, National Diploma in Management or Financial Management
MINIMUM PERIOD OF EXPERIENCE/ TRAINING (DESCRIBE TYPICAL EXPERIENCE BACKGROUND): A minimum of 1 year experience in pension fund administration with a strong focus on operations.
PREFERRED EXPERIENTIAL / TRAINING BACKGROUND:
Extensive training on Everest System, highly literate in MS Office applications, specifically MS Excel and MS Word

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