Pension Benefit Officer

The Opportunity:

The Saskatchewan Pension Plan (SPP), was created in 1986 and is a fully funded, capital accumulation plan created by the provincial government. SPP provides a professionally managed pension plan at low fees to individuals with little or no access to employer-sponsored pensions. SPP has over $900 M in assets under management and over 32,000 members.

The SPP is seeking a well-organized, client focused, and efficient individual to join its pension services team as the Pension Benefits officer. The successful person will be responsible for calculating payments from the Plan and making adjustments to member accounts. This individual will also be required to: explain, both verbally and in writing, calculations, Plan rules, policies and procedures

• Processing monthly annuity and VB pension payments and income tax requests, calculates overpayments upon death, calculates and initiates death benefit payments, mails cheques and retired member statements of account.
• Process and communicate with VB retirement members wishing to close their account or transfer out to an SPP annuity or other outside retirement vehicle.
• Reconciles the current month’s VB and annuity retirement payroll.
• Assists with annual reconciliation of T4A and NR4 tax slips.
• Staying current on changes to federal and provincial retirement income programs as they affect post-retirement choices for VB retirement members.
• Verifies that systems properly generate interest, benefits, minimum payment, and income tax amounts in accordance with Saskatchewan Pension Plan Act and Regulations and CRA requirements.
• Communicates with retired members and their representatives regarding payments, address changes, beneficiaries, death benefit payments, powers of attorney.
• Consults with post-retirement members regarding annuity and VB pension options, CRA-required minimum withdrawals from VB accounts, mandatory and voluntary income tax, options to transfers in/out, T4A/NR4 amounts.

Job Capabilities:

As a public servant, we are seeking someone who:

• Is accountable, takes ownership of their work by contributing to organizational outcomes and demonstrates the corporate values in our Commitment to Excellence.
• Is innovative and seeks out ways for improvement by thinking creatively, identifying new ideas and taking responsible risks.
• Works collaboratively with others to understand, engage and have meaningful dialogue to achieve work outcomes.
• Is inclusive, identifies and is aware of personal bias, and readily seeks out and appreciates diverse perspectives.
• Is adaptable, continuously learns from experience and applies those learnings to new situations.
• Focuses on achieving public service excellence.

Technical Knowledge and Skills:

• Financial accounting principles and practices.
• Complex math skills.
• Computer applications including Microsoft Windows, Word, Excel, and Outlook.
• You will have demonstrated ability to accurately perform mathematical calculations to audit pension payments and payouts.
• Plan, prioritize and organize work in order to meet strict deadlines while experiencing frequent interruptions and changing priorities.
• Examine, understand, explain, and appropriately apply policies and procedures to retirement related issues.
• Compare, recognize and correct discrepancies in order to balance and ensure data integrity.
• Seek out relevant information to develop and maintain procedures or identify problems.
• Work independently and cooperatively with others in a team environment to establish, build and maintain positive working relationships and to ensure deadlines, goals, and objectives are met.
• Communicate effectively, verbally and in writing to a diverse group of individuals and their families and representative to explain Plan provisions.
• Access, retrieve, input, change and process information in a database.
• Develop complex spreadsheets.
• Develop merges in word processing software.

You will be:

• Attentive to detail and policy to ensure accuracy of work.
• Flexible and self-motivated when dealing with multiple demands and priorities.
• Service orientated.

As our successful candidate, you will have strong knowledge of the pension industry and practices. You bring a solid understanding of the regulatory environment along with effective communication skills.

Typically, the knowledge, skills and abilities for this position are acquired through completion of a two-year business course, a diploma or certificate in accounting, or equivalent experience supplemented with Canadian Investment Funds Course. The successful candidate must pass the Canadian Investment Funds Course offered within the first six months of employment.

The successful candidate shall be subject to a Criminal Record Check as a condition of employment.

Job Skills:

• Communication (Level B)
• Critical Thinking (Level B)
• Digital Skills (Level B)
• Interacting with Others (Level B)
• Navigating Ambiguity (Level B)
• Managing Self (Level B)
• Health, Safety and Wellness (Level A)
• Data Literacy (Level B)
• Influence (Level B)
• Political and Organizational Awareness (Level A)
• Managing Organizational Resources (Level B)

Learn more about the Government of Saskatchewan’s Capabilities and Skills Framework here.

What We Offer:

• Dynamic and challenging work
• Competitive salary
• Comprehensive benefits package including pension
• Vacation, scheduled days off, and other types of leave
• Inclusive work environments
• Career growth, development, and advancement opportunities
• Flexible work arrangements

Our Commitment to Excellence:

The Government of Saskatchewan upholds deep-rooted values of Respect and Integrity, Serving Citizens, Excellence and Innovation, and Acting as One Team.