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13 Sep 2020

Contract Pension Associate (Contract)

Sagicor Life Jamaica Limited – Posted by careersja Anywhere

Job Description

The selected candidate will complete the winding up of all dormant plans and prepare Progress Reports for current plans being wound up for submission to the Financial Services Commission.

Key Duties and Responsibilities:

  • Reconciliation of payments made to Members from Dormant Plans; Ensure all payments made since the Plan’s winding up date are accounted for; Identify members who have not been paid their benefit
  • Ensure administration fees are discontinued where applicable; Prepare reports of benefits remaining to members.
  • Locating Members of dormant plans; Identify members to be contacted and work with the Pensions Officer to reach out to these members and or the Trustees.
  • Liaise with the ARS Unit for assistance with searching for members; Identify other means of reaching out to member and utilize those means.
  • Preparation of data for Actuarial Update; Ensure proper reconciliation is done and data provided to the Actuarial Department for updates to be done
  • Liaise with Finance to get Fund statements needed
  • Prepare any outstanding reports and actuarial data for the wind up of any dormant plan whose Wind Up activities were not started.
  • Dormant Plan close out; Undergo investigations to ascertain the status of all dormant plans.
  • Contact Trustees, Employers and Members where necessary to arrange meetings and payments; Fully pay out all benefits due to these Plans; Preparation of submissions to the Regulators for all dormant Wind-ups.
  • Plan Closure Progress Report Statements; Ensure all payments made since the wind-up date or last progress report date are accounted for; Prepare reports of benefits paid and benefits remaining to members
  • Liaise with Pension Administrators to collect documents needed to prepare Wind Up (Accounting) Progress Report; Utilise the FSC’s template for all submissions.
  • Ensure all items requested by the FSC are included in accounting statements being submitted
  • Prepare Final Wind Up (Accounting) Report where required for the Regulators.
  • Preparation of Option forms; Preparation of option forms /updated option forms for member of wind up plans handled by the Unit.
  • Internal Reporting requirements; Log all work done and update database with information about each dormant plan; Provide details of all work done in assigned database.
  • Benefit Payments; Calculate retirement benefits due to members; Prepare option forms for members, where necessary, outlining benefits due
  • Perform other related duties assigned from time to time.

Academic Qualifications/Specialized Skills/Competencies:


  • Minimum of a Bachelor’s Degree in Accounts or Mathematics from a recognized tertiary institution.
  • Loma level I or certificate in other industry specified courses.
  • Three (3) years’ experience in a similar capacity.
  • Excellent communication skills.
  • Ability to manage time.
  • Sound knowledge of standard PC software applications
  • Research skills.

How to Apply

If this role is of interest to you kindly submit an application via Sagicor's career portal, no later than September 18, 2020.

While we appreciate all applications only shortlisted applicants will be contacted.

Job Categories: Finance. Job Types: Contract.

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