Railpen – Darlington, England, United Kingdom
An exciting opportunity to join Railpen’s Benefits Unit as a Technical Services Consultant focusing on delivering member benefit calculations, data and reports in order to operate and execute buy‑in and buy‑out transactions. This permanent role is within the delivery area of Railpen’s Technical Policy and Services team based in our Darlington office and offers hybrid working.
Who we are
Railpen is responsible for the safekeeping and investment of around £34 billion in assets and the administration of several pension schemes, including the Railways Pension Scheme, one of the UK's largest and longest established pension funds.
Our heritage of looking after the pension needs of the rail industry and its employees gives us our name and our unique outlook on how we serve our members. Railpen takes a holistic view, focusing on how we serve members today and how we can positively impact the communities and the world they will retire into.
Our values of integrity, community and alignment are the guiding principles that influence our behaviour. They help us make decisions and shape our relationships with others. They’re what we stand for.
The role
As a Technical Services Consultant you will be responsible for carrying out and reviewing individual calculations and valuation data extracts, delivering calculations, data and reporting under the buy‑in/buy‑out operational framework. Responsibilities include:
* Calculating member benefits, applying insurer factors where relevant, and checking amounts received from insurers.
* Producing clear and accurate benefit specifications and other data extracts.
* Providing complex calculations and solutions to queries to improve member experience, both in business as usual and wider initiatives.
The person
We are looking for someone who has an understanding and knowledge of DB pensions and the processes linked to member benefit calculations. A background in the pensions industry is key for this role, as is a willingness to stay up to date on emerging pensions developments. Knowledge and experience with buy‑in and buy‑out transactions is strongly preferred but not essential.
The successful candidate will have good analytical, investigative and numerical skills, be able to document their work to maintain clear audit trails, have experience using Microsoft Excel spreadsheets and be able to communicate effectively in writing and orally. You should be customer‑service driven, able to balance priorities and workloads, understand the importance of meeting service‑level agreements, and proactively manage customer expectations. Collaboration and an open mindset are essential.
What we can offer you
Rewarding you
* A competitive salary (depending on experience)
* 28 days annual leave plus bank holidays
* Generous annual bonus plan
* Membership of the Railways Pension Scheme, a Defined Benefit arrangement with a lifetime pension and a lump sum on retirement based on length of service and pay
* 4× Life Assurance cover
* Private Medical Insurance
* Employee assistance programme
* Health cash plan
Lifestyle
* Hybrid and flexible working, 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
* Flexible half‑days leave
* Electric vehicle leasing
* Cycle to work scheme
Next Steps
If you would like to apply, please click the apply button or visit our Careers Page by 10th November 2025.
Equal Employment Opportunity Statement
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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