In Summary - Pension Fund Manager
Pension Fund Managers typically work in the following Career Sectors:
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The Work - Pension Fund Manager
People who want to have a pension in retirement (as well as the one provided by the State) regularly pay sums of money, known as contributions, into a pension fund or scheme. Employers may make additional contributions. The total amount is invested, and the profits made eventually provide the money to pay out the pension. Pension fund managers establish and manage such pension schemes for private and public sector employees. Managing a fund involves investing the contributions in the best way possible to ensure that when employees retire, the money required to provide pension payments is available.
The overall responsibility for the fund is the pension fund manager's, but an investment manager usually deals with the actual mechanics of investment. The managers can either be part of the same organisation or be hired as consultants. Pension fund managers are responsible for maintaining close liaison with these specialists.
Pension fund managers oversee portfolios of investments and are responsible for deciding the combination of shares, government stock and property to be bought. Since such large sums are involved, fund managers' decisions can have implications for the economy.
Managing a pension fund involves making sure that legal and taxation requirements are met. Pension fund managers should also ensure employers and employees know about the benefits and obligations of the scheme. They also see that the collection of contributions and payment of benefits operates smoothly.
Pension fund managers have an important policy-making role in helping to set up a company pension fund and the employee benefit package. They spend much of their time liaising with stockbrokers, analysts, tax inspectors, personnel managers, trade union representatives, lawyers and government officials.
Most commonly reported Work Tasks
- Manage investment funds to maximize return on client investments.
- Select specific investments or investment mixes for purchase by an investment fund.
- Analyze acquisitions to ensure conformance with strategic goals or regulatory requirements.
- Select or direct the execution of trades.
- Develop or implement fund investment policies or strategies.
- Develop or direct development of offering documents or marketing materials.
- Evaluate the potential of new product developments or market opportunities, according to factors such as business plans, technologies, or market potential.
- Identify group or individual target investors for a specific fund.
- Meet with investors to determine investment goals or to discuss investment strategies.
- Monitor regulatory or tax law changes to ensure fund compliance or to capitalize on development opportunities.
Interests - Pension Fund Manager
This occupation is typically suited for people with the following Career Interests:
Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.
Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.
They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.
As a pensions professional, you'll need to be able to:
- Analyse complex information and explain it in a way that non-specialists can understand.
- Manage a team of administrative and clerical staff.
- Make confident decisions.
- Pay close attention to detail.
- Prioritise and plan tasks.
You should have:
- Numerical and analytical skills.
- A thorough understanding of employment law, taxation, accounts and statistics.
- Good verbal and written communication skills.
- Sound judgement.
- IT skills; in particular, you should be able to use spreadsheets.
- Teamwork, interpersonal and supervisory skills.
Entry Requirements - Pension Fund Manager
Pay & Salary - Pension Fund Manager
Salary Range (thousands per year)* 25k - 55k
Last Updated: March, 2017
* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.