Benefit Services Administrator
3 weeks ago
1. Transfers Administration
Carried out all transfers in terms of FSB approved requirements and Fund Regulations.
Reconcile all accounts prior to effecting any transfer
Ensure that all transfer documentation and personal details are up dated prior to transfers taking place.
Process transfers and payments.
2. Withdrawals
Carry out all withdrawals (incl. Divorce orders) in terms of Fund Regulations.
Establish effective date of withdrawals.
Reconcile payments prior to withdrawals determining exact date of withdrawal.
Calculate the withdrawal benefit based on information available and issue withdrawal statement.
Effect withdrawal payments.
Terminate withdrawing member from Fund.
Maintain a monthly register of withdrawals.
Deduct and ensure SARS monthly tax payments and Annual Tax filings.
Liaise with Actuary as required.
3. Retirement
Carry out all retirements in terms of Fund Regulations.
Process all retirement claims and establish effective date of retirement.
Reconcile payments prior to retirement highlighting the exact date of withdrawal.
Calculate the retirement benefit based on information available and issue withdrawal statement.
Process benefit payment.
Terminate retiring member from Fund.
Notify Pension Administration of retirement and hand over details to them.
Maintain a monthly register of retirements.
Liaise with Actuary as required.
4. Disabilities
Process all disability claims within Fund rules.
Establish effective date of disability.
Ensure that all disability claim documentation is completed in terms of Fund Regulations.
Reconcile payments prior to disability highlighting the exact date of withdrawal.
Calculate the disability benefit based on information available and issue payment details statement.
Process benefit payment.
Establish normal retirement date and flag it.
Notify Pension Administration of disability and hand over details to them.
Maintain a monthly register of disability claims.
Liaise with Actuary as required.
5. Reporting and Performance Management
Attend daily team meetings ensuring that daily objectives are met in accordance with
work plans.
Participate actively in the Fund performance management system.
Report on all processes and on reconciliations and any variances and reasons for variances.
6. Document Management
File and scan all documents are in terms of Fund policy
Carry out backups of all data terms of Fund policy.
**MINIMUM QUALIFICATIONS TO PERFORM ROLE**:
NQF level 6, National Diploma in Management or Financial Management
MINIMUM PERIOD OF EXPERIENCE/ TRAINING (DESCRIBE TYPICAL EXPERIENCE
**BACKGROUND)**:
A minimum of 1 years experience in pension fund administration with a strong focus on
operations.
**PREFERRED EXPERIENTIAL / TRAINING BACKGROUND**:
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