Pensions Strategy Manager

At National Grid, we keep people connected and society moving. But it’s so much more than that. National Grid supplies us with the environment to make it happen. As we generate momentum in the energy transition for all, we don’t plan on leaving any of our customers in the dark. So, join us as a Pensions Strategy Manager, and find your superpower.

Are you passionate about shaping the future of pension benefits? We’re on the lookout for a dynamic Pensions Strategy Manager to become a vital part of our Pensions team at National Grid. In this exciting role, you will play a key role in managing our multi-billion-pound pension arrangements, ensuring that both current and former employees receive the benefits they deserve.

Your expertise will help us identify, evaluate, and implement innovative strategies for cost-effective management of benefits and risk across our pension schemes. Plus, you’ll have the opportunity to contribute to impactful projects stemming from corporate activities.

If you’re ready to make a difference and drive positive change in our pension landscape, we want to hear from you!

This role is based out of our London office (The Strand), and we’d hope to see you at least two days per week but you’re welcome to be in the office more often if that would work best for you. We’re happy to discuss any additional flexibility in working patterns or requirements that you feel could help to make this job work for you!

What You’ll Do:

• Support funding discussions (including valuation negotiations) with trustees of National Grid’s UK DB plans.
• Lead actuarial input into year end and mid-year IAS19 company accounting, involving the management of our key advisors, auditors and internal finance teams.
• Manage the monitoring and internal reporting of pension scheme performance. This includes providing pensions forecasting information to the wider business and managing expectations regarding key financial metrics.
• Support the pensions aspects of company-wide projects, such as work on mergers, acquisitions, divestitures, and other restructurings, typically working in a cross-functional team.
• Act as a subject matter expert to provide innovative, strategic, and best-practice solutions that address the needs / wants of business customers to reduce risk and cost.
• Support the development of the long-term strategic priorities and business plans for Group Pensions, contributing to the development of our pensions strategy and setting a clear direction for meeting National Grid’s objectives.
• Where initiatives are approved, the role will be responsible for the detailed planning of the initiative – either as a subject matter expert or as part of a working party – to ensure their successful implementation.
• Act as an internal consultant to HR on pension matters, including leading the HR aspects of pensions change within wider company projects (e.g., mergers, acquisitions, and divestitures), supporting HR on benefit programmes (e.g., flexible benefits annual cycle and renewal) and on pay and benefit negotiations with Unions.
• Support with pension trade union forums, including the running of meetings and providing pensions updates.
• Manage internal pension communication including proactively maintaining our online pensions resources and producing relevant articles on UK pension changes.
• Liaising with National Grid’s payroll team, third party administrators, and trustee support team on day-to-day pensions queries.

What You’ll Have:

• Newly Actuarially qualified, with at least 3+ years of post-qualified experience.
• Detailed technical knowledge of UK pensions plans and of the options available to them. Ability to navigate, problem solve and develop innovative options for best outcomes.
• Ability to develop trusted expert relationships with key stakeholders (e.g., pension scheme trustees) to achieve a shared understanding of needs and goals.
• Ability to act as an internal consultant to HR, manage internal pension communications, and provide updates to trade union forums
• Strong relationship-building skills to liaise with trustees, HR, payroll teams, third-party administrators, and other key stakeholders effectively.
• Proven ability to work effectively in cross-functional teams, understanding how the role we play in pensions fits into the wider strategy and objectives of the business.

Don’t meet every single requirement? Studies have shown that women and people of colour are less likely to apply for jobs unless they meet every single qualification. At National Grid, we are committed to building a diverse, inclusive, and authentic workplace for everyone. So, if you’re excited about this role but your experience or qualifications don’t match the job description exactly, we encourage you to apply anyway. You might just be the right person for our growing business in this role or another one.

What You'll Get:

Up to £85,000 dependent on experience.

As well as your base salary, you will receive a bonus based on company and performance with on target being 15% (with a maximum of 30%) and a competitive contributory pension scheme where we will double match your contribution to a maximum company contribution of 12%. You will also have access to a number of flexible benefits such as a share incentive plan, salary sacrifice car and technology schemes, support via employee assistance lines and matched charity giving to name a few.

More Information:

This is a hybrid working role from our London office (The Strand) with circa 2 days in the office. The closing date for this vacancy is Midnight 16 July, with interviews due to take place w/c 21 July onwards. We encourage candidates to submit their applications as early as possible and not to wait until the published closing date. National Grid’s recruitment periods can and may vary. We reserve the right to remove this advert or close it to further applications at any point during the recruitment process.

About Us:

National Grid touches the lives of almost everyone in the UK, with an energy network that stretches across the Atlantic. We’re an international team, and our work underpins the lives of millions of people. Feet forwards, head up, and eyes bright, we’re working hard to create value for people today – and shape the future of energy tomorrow. In the UK, we don’t generate or sell energy – we join the dots to get energy from A to B. National Grid owns and operates the high voltage electricity transmission system in England and Wales. Our role is key in enabling the transition to a low carbon energy system by designing and building the generation and demand connections and wider infrastructure needed to meet the UK’s ambitious net zero targets.

There’s never been a better time to work in energy. It’s a time of opportunity and transformation as we strive to provide a greener, cleaner energy system for the country. We’re looking for people with the skills and enthusiasm to help deliver for our customers today and build an energy network that’s fit for the future. In return we can offer you the chance to make a real impact at work.