Pensions adviser

Alternative titles for this job include Pensions consultant

Pensions advisers help people to plan for financial security in retirement.

Average salary (a year)

£22,000 Starter

to

£80,000 Experienced

Typical hours (a week)

36 to 38 a week

You could work

evenings / weekends on shifts

How to become a Pensions adviser

You can get into this job through:

  • an apprenticeship
  • working towards this role
  • applying directly

Apprenticeship

You can get into this job through a level 6 apprenticeship as a financial services professional, specialising in workplace pensions.

This non-degree apprenticeship will usually take 3 to 4 years to complete. You'll do on-the-job training and spend time with a college or training provider.

On completion, the apprentice will be able to apply for professional membership with the Pensions Management Institute.

Entry requirements

You'll usually need:

  • 5 GCSEs at grades 9 to 4 (A* to C) and college qualifications like A levels for a higher or a degree apprenticeship

More information

Work

You could start as a pensions administrator or financial customer service adviser. You could then take qualifications offered by the Pensions Management Institute (PMI), or the Chartered Insurance Institute (CII).

Direct application

You can apply to companies directly if you have some of the relevant skills and knowledge required for this role.

You'll usually be expected to have some experience in finance or sales. GCSEs or A levels in English and maths would also be helpful.

Employers may offer you additional training if needed.

Other routes

If you have a degree you may be able to join a company's graduate trainee scheme.

More information

Professional and industry bodies

You may find it useful to join organisations like the Pensions Management Institute, for professional recognition, training opportunities and to make industry contacts.

Further information

You can find out more about becoming a pensions adviser from Pension Careers.

What it takes

Skills and knowledge

You'll need:

  • customer service skills
  • knowledge of economics and accounting
  • maths knowledge
  • to be thorough and pay attention to detail
  • sensitivity and understanding
  • persistence and determination
  • analytical thinking skills
  • excellent verbal communication skills
  • You will be expected to use a computer confidently as part of this job.

What you'll do

Day-to-day tasks

Your day-to-day duties may include:

  • managing client relationships, or finding new business
  • calculating the value of pension funds
  • issuing regular statements to pension scheme members
  • answering enquiries from scheme members

Working environment

You could work in an office or from home.

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.

Training opportunities

Apprenticeships In England

Level 6 Financial Services Professional Apprenticeship (Bournemouth)

  • Wage : £17,000.00 Annually
  • Location: Bournemouth BH7 7DA

Courses In England

Finance: Certificate in Financial Services CeFS and Diploma in Financial Services DipFS

  • Provider: Nene Park Academy
  • Start date: 01 September 2019
  • Location: Peterborough

Diploma in Financial Studies

  • Provider: Oldham Sixth Form College
  • Start date: 01 September 2019
  • Location: Oldham

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