UK - Recruitment in the pensions sector has hit a two-year high, consultants claim.
They say the upturn in the jobs market is being driven by forthcoming changes to pension legislation and they believe rates should continue to improve over the coming year.
The growth in the pensions industry reflects a recruitment boom across the finance sector, a new survey from Reed shows.
It said that 92% of the 1500 organisations questioned for its quarterly recruitment index planned to recruit in the third quarter of the year.
Nearly half (49%) said they would recruit for growth compared to 36% last year while a further 43% said they would recruit to maintain staff levels.
Elliot Bauer life and pensions senior consultant Kirsty Walsh said many companies had begun recruiting in anticipation of the pensions simplification legislation.
She said: “We are seeing more of the bigger companies looking for people to carry out legislative work and I can see that trickling down to the smaller companies over the coming year.
“I think a lot of firms were waiting to see what it would mean for them first and we are just seeing the end of that now.”
Darwin Rhodes pensions director Michael Lixenberg said: “Things have certainly picked up after an 18 month to two-year slump, particularly in the past six months or so.
“Positions have really been across the board but there seems to be more activity in in-house vacancies, ranging from administration to senior management.
“The downturn period was quite lengthy and we are fairly confident that with things such as pensions simplification going on at the moment, the upturn will go on for even longer.”
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...