01-08-2025
Pensions sector seeks Gen Z talent amid recruitment challenges
The government has announced a pensions commission to investigate how to boost pension saving, but for it to succeed employment in the pensions sector must be expanded too.
Research by The Pensions Regulator shows that, despite being one of the most vital areas of financial services, 80 per cent of pension scheme administrators are finding recruitment of skilled personnel a 'challenge'.
With the total value of UK pensions sitting at about £3.2 trillion, the industry generates more than 2 per cent of UK GDP annually, yet it lacks the perceived glamour of other financial services. However, with salaries ranging to up to £400,000 for senior pensions directors, the industry provides similar opportunities but with arguably greater job security.
'Pensions can sometimes be wrongly perceived as stuffy or boring, but nothing could be further from the truth,' explains Sophia Singleton, president of the Society of Pension Professionals. 'It's a diverse, innovative and essential industry that makes a huge contribution to both individual savers and the wider economy.'
