Deputy General Manager / Manager (Pension & Retirement Benefits)

1. Position Summary

The Deputy General Manager / Manager (Pension & Retirement Benefits) will be responsible for the administration and management of pensions and entitled medical benefits to portfolio of PIACL pensioners and their eligible dependents. The role includes oversight of pension disbursement through scheduled banks (in line with SBP Pension Bank Accounts Regulations) and medical services provided through group health insurance arrangements. The incumbent will ensure that all processes are transparent, compliant with regulatory frameworks, and delivered efficiently to beneficiaries.

2. Key Responsibilities

a. Pension Administration

• Oversee monthly disbursement of pensions through scheduled banks in compliance with SBP Pension Bank Accounts Regulations.
• Ensure timely reconciliation of pension accounts, error-free payments, and resolution of anomalies.
• Maintain updated pensioner records, including verification of life certificates, family pension cases, and arrears settlements.
• Implement digitization initiatives for pensioner data management.

b. Medical Benefits Management

• Administer group health insurance policies covering retired employees and eligible family members.
• Liaise with insurance companies for policy renewals, claims processing, network hospital arrangements, and grievance resolution.
• Ensure cost-effectiveness, service quality, and compliance with insurance regulations.
• Maintain transparent records of premium payments, claims ratios, and insurer performance.

c. Compliance & Governance

• Ensure strict adherence to Companies Act, SECP regulations, and SOE Act 2023.
• Monitor compliance with SBP’s Pension Bank Account Regulations and PIACL pension policy.
• Prepare periodic compliance reports for management, Board Committees, and external auditors.

d. Beneficiary Services & Communication

• Establish pensioner facilitation and grievance redressal mechanisms.
• Communicate policy updates, claim procedures, and pension-related notifications clearly to retirees and beneficiaries.
• Develop and maintain a pensioner helpdesk (physical and digital).

e. Vendor & Contract Management

• Negotiate and manage contracts with scheduled banks (for pension disbursement) and insurance providers (for medical benefits).
• Monitor vendor service-level agreements (SLAs), claims settlement timelines, and customer service quality.
• Ensure transparent procurement processes in compliance with PPRA rules.

f. Financial Oversight & Reporting

• Monitor pension and medical benefit budgets, ensuring timely disbursement of funds.
• Reconcile accounts with banks and insurers; address discrepancies promptly.
• Provide regular financial, actuarial, and risk assessment reports to senior management.

g. Leadership (for DGM role)

• Supervise and guide the Pension & Benefits administration team.
• Build internal capacity for efficient pension and health benefits management.
• Foster a culture of transparency, accountability, and service orientation.

3. Qualifications & Experience

Education:

• For DGM: Chartered Accountant (CA), ACCA, CPA, CFA, CMA /MBA/MPA/Master’s in Finance, HR or related discipline from an HEC-recognized institution;
• For Manager: Chartered Accountant (CA), ACCA, CPA, CFA, CMA, Bachelor’s with 16 years of education in Finance, HR, Public Administration or related discipline from an HEC-recognized institution.
• Professional certifications in Pension/Employee Benefits Management, Insurance, or Risk Management (preferred).

Experience:

• For DGM: Minimum 12 years of experience, with at least 05 years in senior management, preferably in pensions, employee benefits, insurance, or banking.
• For Manager: Minimum 09 years of relevant experience, including pension administration, medical benefits, or large-scale HR operations.
• Experience in public sector/government-owned enterprises or regulated industries will be preferred.

Maximum Age:

45 years

Skills & Competencies:

• Strong knowledge of pension administration systems, SBP pension regulations, and group health insurance frameworks.
• Vendor management, negotiation, and contract oversight skills.
• Proficiency in ERP/HRMS systems and pension management software.
• Strong problem-solving, analytical, and financial reconciliation skills.
• High integrity and transparency in managing sensitive pensioner/beneficiary data.

4. Key Performance Indicators (KPIs)

• Timely and accurate disbursement of pensions (% payments error-free, on-time).
• Claim settlement turnaround time for medical benefits.
• Beneficiary satisfaction (measured through grievance resolution and feedback).
• Compliance with SBP, SECP, and SOE Act 2023.
• Cost efficiency and performance of insurers and banks.
• Updated and verified pensioner database accuracy (% of reconciled records).

5. Remuneration & Benefits

• Competitive salary package commensurate with qualifications and experience.

Benefits as per company policy and market best practices.