By Adam Cadle
Pension managers are set to see their roles significantly change by 2020, and will become multi-disciplinary professionals as a result of fundamental change within the pensions landscape, according to the Pensions Management Institute (PMI).
With auto-enrolment on the horizon, and an increasing use of flexible benefit arrangements, pension managers will have to take on an increasing number of varied roles in order to ensure that schemes meet legislatory requirements.
PMI chief executive Vince Linnane said: “The new role will require many professional skills that are familiar now, such as technical knowledge, effective communication to a very broad audience with a wide range of financial knowledge (or lack of it), a sophisticated understanding of IT systems and an awareness of the impact of changing legislation.
“However, in future there will be greater emphasis on the expanding options for remunerating employees, a requirement for better all-round management and leadership skills and a better understanding of a much wider range of financial products and markets (including investment options).”