Pension Consultants can either work on behalf of a company to research possible employee pension plans as well as adapting original ones and performing calculations or they may be a personal pension adviser who will give advice to individuals about the best product to suit their needs, they will also ensure that their customers are kept up to date with how their pension is maturing.
You can get into this job through:
You can get into this job through a higher apprenticeship as a financial adviser, specialising in pensions, or as a financial services professional, specialising in workplace pensions.
You'll usually need 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship.
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You could start as a pensions administrator or financial customer service adviser. You would do qualifications while you work to move into an adviser role. Qualifications are offered by the Pensions Management Institute and the Chartered Insurance Institute.
You can apply to companies directly if you have experience in finance or sales. GCSEs or A levels in English and maths would also be helpful.
Employers will offer you extra training in their pensions products when you start.
If you have a degree you may be able to join a pension company's graduate trainee scheme to become an adviser.
You'll need to register as an 'approved person' by the Financial Conduct Authority.
You can join the Pensions Management Institute for professional recognition, training opportunities and to make industry contacts.
You can find out more about becoming a pensions adviser from Pension Careers.
Career Path and Progression
With experience, you could specialise in a particular type of pension, become a pensions manager, or move into other types of financial advice.
You could also become a self-employed pensions consultant.
Related careers you may be interested in:
- Pensions administrator
- Pensions manager
- Financial adviser
- Excellent communication
- Interpersonal and customer service skills
- The ability to explain complex information in simple terms
- Good accuracy and attention to detail
- Good sales and negotiation skills
- A keen interest in financial products
- The ability to analyse and research information and keep up to date with the current market
- Well organised and able to prioritise workloads
- Able to meet and exceed set targets
£22,000 to £80,000