Module Code: H8PMGMT
Long Title Pensions Management
Title Pensions Management
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: Deirdre Bane
Module Author:  
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Analyse and advise on pension related matters in a practical and non-technical manner to a range of pension scheme stakeholders.
LO2 Evaluate the professional role and responsibilities of a pension’s manager or scheme consultant and demonstrate an appreciation of the role and responsibilities of other relevant parties in the management of pension arrangements.
LO3 Explore a contemporary issue of relevance or challenge to their Industry drawing on knowledge & skills developed over the course of the programme and applying their critical analysis and evaluation skills
LO4 Demonstrate the ability to source, critically analyse & evaluate empirical data & material in the context of the issue identified.
LO5 Critically review the information sourced and present the finding in report clear, logical and systematic manner, in line with the terms of reference for this assessment.
LO6 Draw & report realistic and appropriate conclusion from their analysis & findings and present appropriate recommendations.
LO7 Undertake a critical review of their personal learning and identify ways in which their project could have been undertaken more effectively.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Employee Benefits
• Importance of employee benefits • Development of benefit strategy -company objectives, employee demographics, cost, market position, recruitment & retention • Types of employee benefits-salary, bonus, pension benefits, risk benefits – death in service lump sum, widows/dependants benefits, PHI, medical insurance, critical illness, share schemes.
Designing a Pension Scheme
• Study of considerations/factors that influence pension & risk Scheme Design. • Retirement benefit scheme design: defined benefit/defined contribution/ hybrid scheme design, group &/or executive scheme, Personal Pension/PRSA • Death in service scheme design • Industry norms • National Policy with regards retirement provision
Role of Pension Manager (Employer Pension Manager)
• Pension manager role • Key attributes • What a pensions manager should be aware of • Reviewing & evaluating service provider
Role of Pension Consultant
• Role of the pension consultant • Adviser to trustees & company. Relationship management • Service co-ordination, ensuring compliance, communication – employer, trustee & members. Insurance management, risk management & investment consulting • Professionalism & duty of Care
Other key parties– Role/Responsibilities
• Independence of adviser, conflict of duty/interest, whistle blowing & other ethical considerations • Pensioner trustee/independent trustee • Administrators – registered, in-house, insurance company, 3rd party • Investment manager • Legal advisor • Auditors • Tax advisors • Registered administrators • Independent financial advisor
Scheme Communication
• Role of trustee, employer & adviser in scheme communication • Communication methods: target audience, language, one to one, groups, sensitive situations, conflict of interest • Scheme disclosure: event driven or on-going communication, Statutory disclosure requirements, discharge of Trustee responsibility o Employment contract o Trust deed & rules & pension scheme booklets, o Investment information o Benefit Statements & Projection Statements o Trustee Annual Report, Actuarial Valuations o Member 1-1’s - review of benefit statement, modelling, Wind up/Redundancy
Management of Record Keeping and IT Systems
• Importance of record keeping, regulatory requirements. • Overview of records required for pension /risk benefit administration – new employees, active members, deferred members, pensioners dependants, divorced member, and deaths. • Key considerations in the management/development of IT systems • Use of computerised systems – functions & types e.g. record keeping benefit calculation, unit allocation/investment, payroll interfaces, annual renewals, data transfer, automated work flow, internet etc. • Risk considerations: security, back-ups data feed/transfer issues & quality, disaster recovery, virus.
Administering & paying benefits
• Practical understanding of benefit payment procedures– required information, timeline and trustee discretion etc.
Policy & Legislation
• Review of current challenges or reforms and Government Policy EU Pension policy/reform. •Overview recent/relevant changes in regulation
Assessment Breakdown%
Coursework100.00%

Assessments

Full Time

Coursework
Assessment Type: Project % of total: 70
Assessment Date: n/a Outcome addressed: 2,3,4,5,6,7
Non-Marked: No
Assessment Description:
Capstone
Assessment Type: Oral % of total: 30
Assessment Date: n/a Outcome addressed: 1,2,5
Non-Marked: No
Assessment Description:
Roleplay
No End of Module Assessment
No Workplace Assessment
Reassessment Requirement
Repeat failed items
The student must repeat any item failed

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2 Every Week 2.00
Lecturer-Supervised Learning (Contact) Workshop 4 Once per semester 0.33
Assignment No Description 100 Once per semester 8.33
Total Weekly Contact Hours 2.33
 

Module Resources

Recommended Book Resources
  • Irish Institute of Pensions Management. (2010), Pensions Management.
  • Pensions Management Institute (UK). (2010), Total Remuneration.
  • Irish Institute of Taxation. (2014), Pensions: Revenue, Law & Practice Finance Act 2014.
  • Armstrong, M.. (2010), A Handbook of Employee Reward Management and Practice, 3rd. Kogan Press.
  • McClave H. (2008), Communication for Business, 4th. Gill & MacMillan.
Supplementary Book Resources
  • The Pensions Authority. (2014), Trustee Handbook, 4th.
  • Perkin S.J., White G. Employee Reward, 2nd. CIPD.
  • Roberts J.. (1998), Presentations: Your Questions and Answers, Richmond Trotman.
  • Finucane, K., Buggy, B and Tighe, U.. (2006), Irish Pensions law and practice, 2nd. Thomson Roundhall.
  • Harvey N.. (2002), Effective Communication, Gill MacMillan.
This module does not have any article/paper resources
Other Resources
  • [Website], www.betterregulation.com – Irish Pensions Law section.
  • [Website], http://www.revenue.ie/en/about/foi/s16/p ensions/index.html.
  • [Website], http://www.pensionsauthority.ie/en/Regul ation/.
  • [Website], http://www.pensionsombudsman.ie/cms/inde x.php.
  • [Website], http://www.iapf.ie/.
  • [Website], www.cipd.co.uk.
  • [Website], www.nera.ie.
Discussion Note: