Technical Calculation Analyst (Calculation Assurance)
We have an exciting opportunity for a Technical Calculation Analyst to join our Calculation Assurance team within the Technical Policy & Services function based in Darlington (hybrid working). This role plays a crucial part in ensuring the accuracy of pension benefit calculations across Railpens schemes, supporting our operational teams and safeguarding member outcomes. We are looking for
About Railpen
Railpen is responsible for the safekeeping and investment of around £34 billion in assets and oversees the administration of several pension schemes, including the Railways Pension Schemeone of the UKs largest and longest established schemes.
For decades, our heritage has been rooted in supporting the pension needs of the rail industry and its employees. Today, we hold a long-term perspective on how best to serve our members and positively shape the communities and future they will retire into.
Our valuesIntegrity, Community, and Alignmentguide the decisions we make and shape how we work with colleagues, members, and partners.
The Role
As a Technical Calculation Analyst, you will help ensure the accuracy, integrity, and reliability of Railpens pension and benefit calculations. You will work closely with colleagues across Technical & Policy Services, Administration, and Process Assurance to support both system change and ongoing operational needs.
Key Responsibilities
Testing & Assurance
Develop, maintain and fully test pensions and benefit calculation tools and software
Design, execute, and document robust test plans to ensure accuracy and quality
Support delivery of system enhancements and statutory changes
Investigation & Support
Perform manual benefit calculations for member records
Investigate complex calculation queries and provide clear analysis and guidance
Highlight, escalate, and clarify issues with internal stakeholders and external suppliers
Provide live assurance support to the business
Collaboration
Work cross-functionally to understand system changes, risks, and business impacts
Support wider business areas in ensuring members receive correct benefits
About You
Essential Knowledge & Experience
Strong understanding of Defined Benefit pensions, including CARE arrangements
Experience supporting or performing member benefit calculations
Knowledge of processes linked to pension administration
Skills & Behaviours
Strong analytical and investigative skills with excellent numerical accuracy
Ability to produce clear documentation and maintain audit trails
Competent user of Microsoft Excel
Effective communicator (written and verbal)
Customer-focused, collaborative, and proactive in managing workloads and SLAs
Open-minded team player with a willingness to stay current on pensions developments
Desirable
Knowledge of Defined Contribution schemes
What We Can Offer You
Rewarding you
A competitive salary (depending on experience)
28 days annual leave plus bank holidays
Generous annual bonus plan
We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay
4x Life Assurance cover
Colleague referral scheme
Heath & Wellbeing
Private Medical Insurance
Employee assistance programme
Health cash plan
Eye care vouchers
Flu vaccination
Lifestyle
We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave
Buy and sell holidays
Give as you earn scheme
Paid volunteering days
Flexible half days leave
Electric vehicle leasing
Cycle to work scheme
Next Steps
If you would like to apply, please click on the apply button or visit our Careers Page by 2nd March 2026.
Railpen is committed to creating an inclusive and diverse environment, we value diversity and welcome people from all backgrounds and walks of life.
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