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Pension Fund Payroll Manager - Wiltshire Council
Salary: £215 Per Day
Hours: 37 Hours
Working Schedule: Monday to Friday
Contract Length: 3 Months +
Location: Trowbridge, Wiltshire, BA148JN
Job Details
Office based, but may involve some travelling to other council buildings.
We are looking for cover for our Pension Fund Payroll Manager.
You will be responsible for leading a small team, administering the payroll for our 20,000 pensioners, using a payroll system which is integrated into our pensions administration system (Altair).
You will be responsible for ensuring that all appropriate checks and controls are operating effectively, meeting payment and HMRC deadlines, and supporting the rest of the team.
Organisational support job family overview:
Delivery of services to support the Council and its partners in longer term; corporate compliance, contracting, planning, performance, policy and strategy.
Focus on the business and service infrastructure of the Council and its partners to ensure effective management and proper compliance
Advice and services rendered will generally be accepted as authoritative and recommended practice
Specialist area and/or management knowledge
Understanding area concepts and plans
Defining implications of external influences and trends
Shaping of Council responses including service plans/strategies & policies
Definition & management of strategic planning processes
Monitoring and reporting of performance
Service / function Context
The overall responsibilities of the service/function are:
The Wiltshire Pension Fund is established under Local Government Pension Scheme Regulations. Its purpose is to meet all future pension liabilities of its scheme members, whilst at the same time seeking to minimise the contributions that need to be paid into the Fund by the employer bodies. The level of employer contributions is assessed every three years through an actuarial valuation of the Fund.
The Wiltshire Pension Fund administers pensions on behalf of over 180 different employer organisations, ranging from local authorities, FE colleges, academies, charities and third party service providers.
The Pension Team is responsible for the governance and administration of the Wiltshire Pension Fund as well as the Fire Uniform Pension schemes.
The LGPS benefits being administered amount to liabilities, valued at the last triennial valuation of £2.7bn and these are funded by assets managed by the Fund of circ. £3bn.
The Fund pays out benefits of around £100m each year and receives in contributions from employers of £120m.
The Fund must be administered in line with the appropriate statutory scheme and a variety of overarching legislation, including tax regulations.
It also has to comply with various statutory guidance, in particular the Pension Regulator’s Code of Practice 13, which covers the governance requirements expected of all public sector pension schemes, including the LGPS.
Importantly the Fund is required to report any breaches of the law to the Pension Regulator, whether they have occurred within the Fund or any of the scheme’s employers.
The correct administration is critical to ensure the Fund isn’t fined by the Pension Regulator along with the associated reputational risk, but the management of the Fund’s assets and liabilities is attributable to its solvency and determines the level of contributions to be paid by employer’s organisations, a significant cost for them and for many smaller employers as this has a direct impact on their financial viability.
The Wiltshire Pension Fund ensures all pension benefits are paid correctly, on a timely basis and in line with the scheme regulations. It manages the relationships with the Fund’s 180+ scheme employers, overseeing the admission and cessation of these organisations.
It monitors and reviews the investment strategy of the Fund and brings forward proposals for improvement as appropriate to ensure the assets and costs of the Wiltshire Pension Fund are accounted for and reported correctly and legally.
Investment manager services are procured on behalf of the Fund via the Brunel Pension Partnership, in which the Fund participates together with 9 other LGPS Funds.
It procures actuarial services and other third party providers which value more than £7m and to ensure the continual development and enhancement of the pension administration service by improving performance and appropriate development of IT