Implementation Analyst (BPA)

EQ Retirement Solutions is transforming the retirement and pensions markets with leading administration and technology solutions. With over 1200 employees globally, 189 years of knowledge and 11 million pension scheme members and policyholders, we are here to help people plan for a confident financial future by delivering innovative, reliable and customer-focused retirement services. Our teams are driven by a shared commitment to excellence, collaboration and making a real impact to the lives of our clients and customers.

Role Summary

We are seeking a technically strong Bulk Purchase Annuities (BPA) Calculation Implementation Analyst to join our BPA Calculations Implementation team. This role is ideally suited to an experienced Calculation Implementation Analyst, or a Senior Defined Benefit (DB) Pensions Administrator (or equivalent) with extensive manual calculation experience who is looking to progress into a more technical, analytical and project-focused role. The position centres on interpreting DB pension scheme rules, performing and validating complex manual calculations, and translating these into robust system calculation requirements for BPA schemes. While BPA experience is advantageous, it is not essential — strong DB technical knowledge and hands-on manual calculation capability are the core requirements.

Core Duties/Responsibilities

The successful candidates will be responsible for the following:

• Interpret complex benefit specifications and scheme rules to derive detailed calculation requirements
• Perform and check complex manual DB pension calculations across a wide range of events, including:

• Normal, early and late retirements
• Death benefits (spouse, dependant and guarantee pensions)
• Transfers out
• Trivial commutation and small pots
• Pension increases and revaluation

• Apply detailed legislative requirements including:

• GMP (including GMPe)
• Revaluation legislation
• Anti-franking principles
• Equalisation considerations

• Validate actuarial and commutation factors to ensure correct application
• Maintain and refine calculation spreadsheets used for modelling, validation and reconciliation
• Translate manual calculation methodology into structured system requirements
• Support and oversee the Calculation Engine to ensure automation reflects correct technical logic
• Identify and document calculation requirements for new BPA transactions
• Create and agree detailed scenario testing matrices with clients
• Lead technical scenario testing, reconcile results and resolve discrepancies
• Ratify factor usage and maintain factor feeds
• Perform and obtain client sign-off for bulk and monthly calculation exercises
• Provide technical oversight during pension increase exercises
• Collaborate with internal stakeholders and BPA clients to understand scheme-specific nuances
• Support pre-sales activity by assessing the technical complexity of prospective BPA transactions
• Ensure smooth technical handover to BAU administration teams
• Provide hypercare support to resolve calculation-related issues post-go-live
• Provide ongoing technical support for complex or non-standard cases
• Contribute to improving calculation implementation standards and documentation
• Ensure all calculation methodologies are clearly documented and audit-ready
• Support system enhancements to improve calculation robustness and efficiency
• Maintain up-to-date knowledge of DB legislation and regulatory developments

Skills, Capabilities and Attributes

Essential:

• Extensive hands-on experience performing and checking complex Defined Benefit pension calculations
• Experience operating at Senior Administrator (or equivalent) level with responsibility for technical accuracy and peer review
• Strong working knowledge of: GMP (including GMPe), Revaluation and pension increase legislation, Commutation and anti-franking rules
• Ability to interpret scheme rules and benefit specifications independently
• Strong Excel skills, including building and maintaining calculation models
• High attention to detail and strong analytical capability

Desirable:

• Exposure to BPA schemes or risk transfer transactions
• Relevant pensions qualifications (e.g. PMI qualification)
• Experience validating or supporting system-based calculation automation

What We Offer

• Save For Your Future - Equiniti Pension Plan; Equiniti matches your pension contributions up to 10%
• Health and Wellbeing – Employee Assistance Programme: counselling, legal & wellbeing support for colleagues and their households. Life assurance cover at 4x salary with the ability to purchase enhance cover.
• Employee discounts – Discounts and cashback at your favourite high street stores through our EQ Wins Platform.
• Flexible Benefits – The ability to purchase a wide variety of benefits through our flex plan; gadgets, travel insurance, will writing, holiday trading and more.
• Time Off – Typically 29 days holiday + bank holidays. 2 volunteer days to get involved with a charity of your choosing.
• Winning together – Equiniti ICON award vouchers; recognising the individuals going above and beyond to help the business succeed.
• Learning & Development – Investment in LinkedIn Learning for all colleagues.