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About the Role

The Pension Benefits Analyst is a member of the Member Services team responsible for providing customer service support to members and pensioners. This role involves preparing estimates and correspondence related to various life events such as terminations, retirements, death benefits, and marriage breakdowns. The position requires knowledge of pension legislation and administration processes, strong customer service skills, critical problem-solving abilities, and attention to detail.

Responsibilities

Respond to telephone, email, and written requests from members and pensioners about all aspects of pension and relevant benefits.
Update pensioner payroll records with requested changes.
Meet with retiring or terminated members and/or family members of deceased pensioners to assist with completing documentation and answering questions.
Prepare and provide retirement or termination estimates to members leaving the Plan.
Prepare correspondence to survivor spouses or beneficiaries of deceased Plan members, outlining settlement requirements and preparing onboarding documents.
Finalize estate files upon receipt of required documents and prepare payment documentation for lump-sum value payments and final monthly pension payments.
Coordinate with TTC Employee Benefits for pre-retirement and post-retirement death files.
Support in the preparation of the calculation of members' Family Law Valuations.
Maintain all member and pensioner death records in the register and document management systems.
Periodically request death certificates through the Registrar General where family members of deceased cannot be located or are unwilling or unable to provide documentation.
Assist the team with maintaining pension payroll adjustments and changes monthly, including updating information, delimiting deceased pensioners, printing cheques, and processing wire transfer payments.
Assist with calculating and updating the monthly Bank of Canada Commuted Value (CV) interest rates and the quarterly OAS and CPP maximum payments.
Support business readiness, testing, training, and operational activities associated with pension administration system modernization initiatives.
Maintain up-to-date training materials and standard operating procedure documents.
Provide general office administrative support by scanning and uploading various file types to the enterprise content management system.
Perform other duties as assigned.

Requirements

High-school diploma or post-secondary education or equivalent work experience in pension administration.
Pension Plan Administration Certificate (PPAC) or CPBI Pension Certificate or equivalent or working towards the designations.
Commitment to continuous learning and staying current with developments in pension administration, pension legislation, regulatory requirements, and industry trends.
3+ years of experience working in pension benefits administration or a related industry, as a benefits analyst, coordinator or representative, with strong emphasis on customer service.
Understanding of defined benefit pension plans, TTCPP’s Bylaws, Canadian payroll regulations, Ontario Pension Benefits Act, Family Law Act, Canada Revenue Agency regulations.
Experience calculating pension entitlements for various life events – termination, retirement, pre-retirement death, marriage breakdown.
Familiarity with basic accounting principles and practices.
Strong mathematical skills.
Proficiency with Microsoft 365 applications, including Excel, Word, PowerPoint, and Teams.
Excellent communication skills (written and verbal).
Strong attention to detail.
Demonstrated critical thinking, analytical capability, financial acumen, sound record-keeping, and problem-solving skills.
Strong relationship-building skills.
Professionalism, integrity, and ability to act with discretion to maintain confidentiality.
Ability to work effectively under pressure and meet deadlines without compromising quality or accuracy.
Ability to problem solve, ask questions, and escalate issues where necessary.
Ability to work well independently and in a team environment.
Candidates must be legally entitled to work in Canada.
Offer of employment will be conditional upon satisfactory credit, criminal record, and reference checks.

Skills

Customer service
Pension administration
Pension legislation
Problem-solving
Attention to detail
Communication (written and verbal)
Critical thinking
Analytical capability
Financial acumen
Record-keeping
Relationship-building
SAP (asset)
SuccessFactors (asset)
Microsoft 365 (Excel, Word, PowerPoint, Teams)

Location

Toronto, Ontario

Work Type

Hybrid
Fixed-term
Full-time contract

Experience Level

3+ years of experience

Education Level

High-school diploma or post-secondary education or equivalent work experience
Pension Plan Administration Certificate (PPAC) or CPBI Pension Certificate or equivalent or working towards the designations

Salary/Compensations

$72,000 to $80,000 annually
plus 4% of bi-weekly earnings in lieu of vacation time
plus 7% of bi-weekly earnings in lieu of benefits

About the Company

TTCPP is a defined benefit pension plan established in 1940 for employees of the Toronto Transit Commission, the Amalgamated Transit Union Local 113, and TTCPP.
For more than 80 years, TTCPP has been providing a secure retirement income for its members.
The Plan is fully funded and strong with more than 27,000 members and $10.0 billion in net assets.
VISION: To always be there for our members–today and for a lifetime.
MISSION: Providing a financially secure retirement for our members by delivering a pension for life at a reasonable cost. Supporting our members with responsiveness, open communication and hands-on service, now and throughout their retirement.
VALUES: Member-first, Accountable, Collaborative

Equal Opportunity

TTCPP is an equal opportunity employer, committed to the principles of the Accessibility for Ontarians with Disabilities Act (AODA).
We will provide an accessible experience for applicants, members, guests, and TTCPP employees.
We are committed to providing an inclusive and barrier-free work environment.
We are also committed to fostering a diverse and inclusive workplace that encourages and welcomes all elements of diversity, including diversity of thought.
If you require accommodations at any stage of the hiring process, please contact careers@ttcpp.ca.
All accommodation-related information will be kept confidential.