Meeting our Client and Customer Service Apprentices
Over the past few decades, defined benefit (DB) pensions in the private sector have become increasingly rare with most DB schemes closed to new entrants. At the same time demand for buy-ins and buyouts has soared, driven by improved pension scheme funding levels and a desire from Trustees and Sponsoring Companies to draw a line under their historical obligations, and secure their members’ benefits for the long-term. This heightened demand underscores the need to attract new talent to the sector, both to address the increasing volume of pre and post transaction work, and to provide service and customer care to scheme members long into the future.
In response to this need, L&G launched its Apprenticeship Programme in 2022 to encourage young people to pursue careers in the sector. Our one-year programme focuses on recruiting based on behaviours, rather than experience, offering young people office experience and a business diploma qualification. Apprentices bring fresh perspectives, helping to enhance diversity and strengthen our long-standing teams. We recently welcomed our third cohort of apprentices, with the class of 2023/2024 successfully passing their diplomas and all securing permanent roles at L&G.
The apprenticeship programme has been a great success. Two of our recent graduates are Cara Epega and Max Eagle, who both work within our Client and Customer Service team. Cara and Max joined the programme in 2023. Cara is a Junior Transition Consultant and the first graduate to join our Transitions team that works with Trustees and scheme administrators during the onboarding of a new deal. Cara is involved in helping to onboard pension schemes, ensuring that the process of transitioning the retirement benefits and administration to L&G is smooth and efficient. Her dedication to customer service and ability to empathise with clients make her a valuable asset to our team. Cara shares,
Max works in the Collateral Reinsurance Services (CRIS) team as a Junior Operations Analyst. He was inspired to apply for the programme by a friend who already works at L&G. Max's role involves working on reinsurance arrangements and he has also supported more broadly in generating retirement quotes for members . His enthusiasm and ability to learn and adapt quickly has impressed his colleagues and mentors alike. Max notes,
The importance of apprenticeships in DB pensions administration
As the PRT market continues to grow, the need for skilled professionals who understand the nuances of how DB pensions work becomes increasingly important. Traditional methods of recruitment may not always suffice, especially as this is a specialised sector with a finite pool of experienced experts.
The programme is designed to cultivate talent from within, providing apprentices with hands-on experience and mentorship from our team of experts, many of whom have decades of experience in the industry. This approach not only addresses the immediate need for skilled professionals but also ensures a sustainable pipeline of future leaders who are well-versed in DB pensions administration.
Cara and Max's experiences highlight the benefits of this programme. They have received comprehensive training, participated in development days shadowing different teams, and gained valuable insights into the workings of our business. This approach to learning has equipped them with the skills and knowledge necessary to excel in their roles and contributes to the continuous improvement of our services at L&G.
Meeting members in person at customer events has further solidified their understanding of the impact of their work. Cara and Max have had the opportunity to directly interact with members which has deepened their appreciation for the importance of providing top class customer service . Cara reflects:
Looking ahead: the future of our apprenticeship program
When asked what advice he would give to our new apprentices, Max emphasised that, the support from the team has made his journey rewarding and enjoyable, he said
Cara echoed this sentiment and highlighted the importance of knowing that you are not alone and that seeking help from colleagues is key.
With 11 apprentices already onboarded, our apprenticeship programme is now being expanded to other service teams across L&G. As we continue to refine this initiative, we are committed to providing even more opportunities for apprentices to grow and thrive.