Pensions Operations Analyst

Pensions Operations Analyst – Pension Risk Transfer (PRT)

Pension Risk Transfer (PRT) is a division within M&G Life, responsible for the design and delivery of bulk purchase annuities and alternative de-risking solutions for Defined Benefit pension schemes. Due to continued growth and a strong future pipeline, the team is expanding across several areas.

We are seeking a Pensions Operations Analyst to support both the development and implementation of new PRT propositions, as well as the ongoing operational delivery of existing contractual arrangements. This role offers an excellent opportunity for someone with strong analytical skills who is looking to build a career within pensions, insurance, and bulk annuities.

Key Responsibilities

The role covers two main areas: new business support and ongoing operational delivery.

New Business & Proposition Development

• Support the development and implementation of new PRT propositions and operating models
• Act as an operational point of contact for queries relating to new business transactions
• Carry out operational due diligence on new business transactions to assess non-financial risks
• Support implementation activities, ensuring smooth onboarding of new schemes
• Provide reporting and analysis to support decision-making, including input into risk premium assessments

Ongoing Operational Delivery

• Assist with the delivery and ongoing operation of the PRT operational model
• Manage monthly and quarterly scheme reporting requirements
• Reconcile pension data and payrolls on a regular basis, ensuring policyholders are paid accurately and on time in line with scheme rules
• Liaise with outsourced pension administration partners to ensure a high standard of service delivery
• Identify opportunities for continuous improvement and support innovation within operational processes

Knowledge, Skills & Experience

• Strong Maths and English A-level, STEM Degree preferable
• Analytical mindset with strong problem-solving skills
• High level of attention to detail and accuracy
• Effective written communication skills
• Professional approach, with a high degree of honesty, integrity, and discretion
• A genuine interest in delivering a strong customer journey desirable but not essential
• Experience using Microsoft Excel and Word
• Experience of reconciliation / data analysis, desirable but not essential
• Knowledge of Financial Services, Insurance, or Pensions, desirable but not essential

What This Role Offers

• Exposure to the fast-growing UK Pension Risk Transfer market
• Support for professional qualifications
• Structured learning and development within a supportive team
• Opportunities to build technical knowledge in pensions and bulk annuities
• Career progression within PRT, Operations, or wider M&G Life function

Location: Reading

Work Level: Colleague

Recruiter: Amy Curtis

Closing Date: 5th June 2026

What we offer:

At M&G, we're committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:

• As a savings and Investments firm we are proud to offer a valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services - to help give you real confidence to put your money to work.
• Enjoy 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy – to balance your work and personal commitments.
• Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - as supporting families is a core aspect of our inclusive culture.
• Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

We have a diverse workforce and an inclusive culture at M&G, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions.

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: careers@mandg.com