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POSITION: Pensions Officer
FUNCTION: Human Resource
LOCATION: La Lucia Ridge
THIS POSITION IS OPEN TO SOUTH AFRICAN CITIZENS ONLY
- Completed Accounting degree.
- 2 years’ pensions experience in benefit payments
INTERPRETATION AND APPLICATION OF RULES FOR BENEFIT CALCULATIONS
- Determine the benefits of members on retirement, death or disability in service, including widow and child pensions, based on the correct interpretation of fund rules and policies. Make recommendations to the Principal Officer on the disbursement of such benefits and issue a report of benefits awarded on a monthly basis.
- Ensure that the Pension Funds Act is complied with in all cases.
- Keep abreast of any changes in legislation and of precedent setting rulings by the Pension Funds Adjudicator.
- Visit sites and conduct presentations to provide clear information to members concerning their pension entitlements and options prior to retirement, redundancy or resignation. Inform members on the timing and tax implications of their retirement.
- Monitor expatriates’ benefits in host countries’ pension funds and provide these members with updated information on request, track variable pay awards for expatriate managers and ensure that all information is at hand on calculations of retirement benefits for senior managers.
- Liaise with the Receiver of Revenue to ensure compliance with legislation at all times and ensure tax relief in special circumstances where service outside SA is concerned.
CONTROL PAYMENTS TO PENSIONERS AND CHILD BENEFICIARIES
- Recommend and implement arrangements to invest lump sums with the beneficiary fund set up by the Fund where minors survive deceased members, monitor the investment and ensure payment to the child on majority.
MAINTENANCE OF COMPUTERISED PENSIONER RECORDS
- Ensure the integrity and accurate maintenance of the Defined Benefit and Defined Contribution Fund SAP database on termination of members’ service.
COMMUNICATION WITH MEMBERS
- Together with the Pensions Officer and Communications committee provide appropriate communication to members, (actives, deferred and pensioners) on a regular basis to ensure that they have a thorough understanding of the fund, the fund rules and fund operating procedures. Emphasis to be given to savings preservation for younger members of the
- Manage surplus claims and payments.
- Monthly accrual of death and disability liability and reconciliation to general ledger. This includes reporting of benefits awarded and relevant movement in reserves or accumulated funds in conjunction with the fund financial officer.
- Parking of journal entries
- Salary and ad hoc reconciliations
- Custodian reconciliations
- Prepare Contribution analysis
- Assist with completion of annual financial statements
AD HOC & COMPANY ACQUISITIONS AND DISPOSALS
- Co-ordinate ad hoc exercises such as transfers in and out of the fund.
- Assist the Principal Officer in determining pension arrangements for members and pensioners belonging to companies acquired or disposed of.
Please note: as part of the job application, you will be asked to complete an online assessment. Completion of the assessment is mandatory in order to be considered. Please allow yourself plenty of time to complete both the application and assessment. If the assessment is filled out partially or not at all, it will adversely affect the progress of your application. Please be aware that you will have to complete the assessment at once as you will be unable to return to it later.
Please apply online. Your application will be reviewed against our requirements and we will be in touch shortly after the closing date to provide you with an update on the status of your application.
Should you require additional information, please contact Enterprise Support, 0800 980 612 quoting reference number 16000CVN.
CLOSING DATE: 12 August 2016