Pension Plan and Fund Administrator

The key objective of this Certified Pension Plan and Fund Administrator training course is to empower professionals with

• an in-depth understanding of pension and relevant pension plans and funds worldwide
• thorough knowledge and experience of all core responsibilities of a pension plan and fund administrator
• the required experience and knowledge to train other professionals on responsibilities and duties of pension plan and fund administrators
• the necessary confidence and information to help one’s organisation stay ahead of the competition with trained administrators successfully taking care of clients’ needs
• the knowledge and skill at par with a certified pension plan and fund administrator, thus inviting equal opportunities for career growth and progression
• the skill and experience to foresee challenges and take necessary steps and important, timely decisions to avoid business loss or client dissatisfaction
• the capabilities and confidence to place one’s organisation on a global platform and make a mark for the organisation, thereby fostering organisational growth and development
• the knowledge and understanding to ensure continuous update of policies, procedures and databases as per required standards and changing market dynamics

CONTENT

Overview of Pension

• Definition
• Factors influencing calculation
  • Years of service
  • Age
  • Compensation
• Broad categories of pension plans
  • Defined benefit plans
  • Defined contribution plans

Overview of Pension Funds

• Basic structure
• Regulations
• Investment mandates
• Investment styles

Core Tasks of a Plan Administrator

• Enrolling employees in respective pension plans
• Calculating plan beneficiary entitlement
• Making scheduled payments to beneficiaries
• Ensuring maintenance and provision of accurate plan data
• Paying pension benefits to ex-spouses of beneficiaries
• Fielding questions, concerns and complaints from beneficiaries

Features and Benefits of Pension Plans

• Guaranteed pension/income
• Tax efficiency
• Liquidity
• Vesting age
• Accumulation duration
• Payment period
• Surrender value

Types of Pension Plans

• Executive pension plan
• Group/social pension plan
• Master trust pension
• Self-invested personal pension
• Small, self-administered schemes
• Stakeholder pension

Benefits of International Pension Plans (IPPs)

• Unique and dependable backing
• Freedom to invest
• Tax-efficient planning opportunities
• Asset protection

Important Features/Factors of Defined Benefit Pension Funds

• Flat benefit formula
• Career average formula
• Final pay formula
• Fully funded
• Underfunded
• Overfunded

Factors Influencing Pension Plan Investments

• Knowledge of plans and schemes
• Investment tradition
• Self-incentives (defined benefit versus defined contribution)
• Legal and regulatory factors
• Global financial regulation
• Risk mitigation tools
• Income growth
• Unemployment rate

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.