Pensions Management Course

INTRODUCTION

The world of pensions is rapidly evolving, bringing with it increasing complexity and heightened responsibilities for everyone involved with work-related pension schemes. Managers, auditors, and accountants are under more pressure than ever to navigate these complexities effectively. This tailored Pensions Management training course is designed to address the practical elements of pension scheme management, offering procedural guidance on administration, accounting, and auditing.  The Pensions Management program will also focus on essential management skills, providing supervisors and first-line managers with the core knowledge and skills needed to execute their roles effectively. Participants in the Pensions Management training course will develop the following competencies:

• Understand the value and intricacies of pension management.
• Apply best practices from both the public and private sectors.
• Handle common administrative duties with greater efficiency.
• Grasp the importance of records management in pension administration.
• Contribute significantly to the investment decisions of pension schemes.

TRAINING OBJECTIVES

This Pensions Management training course is designed to help participants achieve the following critical objectives:

• Develop a comprehensive understanding of pension scheme regulation and administration.
• Explore pension scheme investments, including alternative investments and auditing challenges.
• Investigate the pensions SORP (Statement of Recommended Practice) and its key requirements.
• Plan and execute the key stages of a change process using appropriate tools.
• Utilize a range of analytical tools to identify and address problems effectively.
• Initiate and manage strategic planning processes for pension schemes.
• Develop and improve sustainable policies for records management.
• Gain practical insights through case studies related to real-world job responsibilities.

WHO SHOULD ATTEND?

This Pensions Management training course is ideal for a wide range of professionals but will be particularly beneficial for:

• Managers involved in pension scheme administration
• Pension administrators seeking to enhance their technical knowledge
• Trustees responsible for overseeing pension schemes
• Internal auditors and management accountants engaged in pension scheme audits

COURSE CONTENT

Day 1: Introduction to Pensions

• Importance and purpose of pensions
• Overview of the pensions framework
• Understanding occupational schemes
• Roles and responsibilities of trustees
• Identifying and managing risks in pension schemes
• Case study analysis

Day 2: Basics of Pension Administration

• Comprehensive understanding of pensions
• The role and responsibilities of a trustee
• Scheme rules, contributions, and benefits explained
• Case study analysis

Day 3: Managing Pension Administration Schemes

• Running a Defined Contribution (DC) Scheme vs. Defined Benefit (DB) Scheme
• Financing strategies for Defined Benefit Schemes
• Case study analysis

Day 4: Objectives and Value of Records Management

• Introduction to records and their importance
• Risks associated with electronic records
• Addressing ERM (Electronic Records Management) misconceptions and strategies
• Best practices for records retention, disposal, and storage
• Effective filing systems
• Case study analysis

Day 5: Strategic Response to Pension Administration

• Investment strategies for pension scheme assets
• Best practices for pension administration and accounting
• Effective member communication strategies
• Problem management in pension schemes
• Case study analysis

GENERAL NOTES

• The course is delivered by experienced trainers with extensive expertise in the field.
• The training includes a mix of practical activities, theoretical knowledge, group work, and case studies.
• Participants will receive comprehensive training manuals and additional reference materials.
• A certificate is awarded upon successful completion of the course.
• Custom-tailored courses to meet specific organizational needs are available. For more information, contact us at training@skillsforafrica.org.
• The training will be conducted at the Skills for Africa Training Institute in Nairobi, Kenya.
• The training fee covers tuition, materials, lunch, and the training venue. Accommodation and airport transfers can be arranged upon request.
• Payments should be made to our bank account before the training starts, and proof of payment sent to training@skillsforafrica.org