Defined Benefit Pension Administration Specialist

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SUMMARY:

The Group Defined Benefit Pension Administration Specialist is a member of the NFP/CBA Group Retirement Services (GRS) Team which provides a range of group retirement, actuarial, consulting and administration services to Canadian organizations that sponsor single-employer programs. Primary responsibilities include day-to-day defined benefit (DB) pension administration and customer service, preparation and peer review of defined benefit pension calculations, including termination, retirement, and death, establishment of new plans in CBA’s systems, managing plan documentation, completion and filing of required government documents, and plan amendments.  The Specialist has direct contact with corporate clients and pension plan members.

General Responsibilities

  • Implement newly appointed DB pension plans on CBA’s proprietary DB administration systems
  • Complete year end DB administration processing
  • Complete compliance reporting, including Form 7, Annual Information Returns, Fund Statements, and Form 8s
  • Day-to-day administration, pension benefit processing (termination, death and retirements) record keeping of assigned defined benefit pension plan clients, including, but not limited to:
    • Prepare member quotations upon termination, retirement and death
    • Calculate and co-ordinate payout of benefits upon termination, retirement and death
    • DB annual anniversary updates
    • Prepare annual member and sponsor statements
    • Prepare AIRs and PBGF assessments
    • Prepare PAs, PSPAs and PARs
    • Prepare and file Plan amendments
    • Respond to member/sponsor inquires
  • Maintain knowledge of legislation policies & procedures
  • Prepare valuation data on a triennial basis or as required by the Plan Actuary     
  • Periodic service support to those DB clients who also sponsor DC pension plans and Group RRSPs
  • Input of data for new clients as received from previous consultant/administrator
  • Provide direct support to corporate clients and plan members
  • Assist with project work and other duties as required

Education, Professional Development & Work Experience:

  • Minimum 7 years of experience and excellent knowledge with defined benefit pension plan administration and compliance
  • A strong understanding of applicable provincial and federal legislation
  • Basic knowledge of defined contribution pension plans and group RRSPs
  • Excellent communication and client service skills
  • Experience in directly servicing plan sponsors and plan members
  • Strong mathematical and analytical skills
  • Advanced knowledge of Microsoft tools, including, Excel, Word
  • Fluent in English and French is an asset

NFP Canada is committed to an inclusive, equitable and accessible workplace. We welcome and encourage applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.