Technical Calculation Analyst (Calculation Assurance)

We have an exciting opportunity for a Technical Calculation Analyst to join our Calculation Assurance team within the Technical Policy & Services function based in Darlington (hybrid working). This role plays a crucial part in ensuring the accuracy of pension benefit calculations across Railpen’s schemes, supporting our operational teams and safeguarding member outcomes. We are looking for

About Railpen

Railpen is responsible for the safekeeping and investment of around £34 billion in assets and oversees the administration of several pension schemes, including the Railways Pension Scheme—one of the UK’s largest and longest established schemes.
For decades, our heritage has been rooted in supporting the pension needs of the rail industry and its employees. Today, we hold a long‑term perspective on how best to serve our members and positively shape the communities and future they will retire into.

Our values—Integrity, Community, and Alignment—guide the decisions we make and shape how we work with colleagues, members, and partners.

The Role

As a Technical Calculation Analyst, you will help ensure the accuracy, integrity, and reliability of Railpen’s pension and benefit calculations. You will work closely with colleagues across Technical & Policy Services, Administration, and Process Assurance to support both system change and ongoing operational needs.

Key Responsibilities

Testing & Assurance

• Develop, maintain and fully test pensions and benefit calculation tools and software

• Design, execute, and document robust test plans to ensure accuracy and quality

• Support delivery of system enhancements and statutory changes

Investigation & Support

• Perform manual benefit calculations for member records

• Investigate complex calculation queries and provide clear analysis and guidance

• Highlight, escalate, and clarify issues with internal stakeholders and external suppliers

• Provide live assurance support to the business

Collaboration

• Work cross‑functionally to understand system changes, risks, and business impacts

• Support wider business areas in ensuring members receive correct benefits

About You

Essential Knowledge & Experience

• Strong understanding of Defined Benefit pensions, including CARE arrangements

• Experience supporting or performing member benefit calculations

• Knowledge of processes linked to pension administration

Skills & Behaviours

• Strong analytical and investigative skills with excellent numerical accuracy

• Ability to produce clear documentation and maintain audit trails

• Competent user of Microsoft Excel

• Effective communicator (written and verbal)

• Customer‑focused, collaborative, and proactive in managing workloads and SLAs

• Open‑minded team player with a willingness to stay current on pensions developments

Desirable

• Knowledge of Defined Contribution schemes

What we can offer you

Rewarding you

• A competitive salary (depending on experience)

• 28 days annual leave plus bank holidays

• Generous annual bonus plan

• We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay

• 4x Life Assurance cover

• Colleague referral scheme

Heath & Wellbeing

• Private Medical Insurance

• Employee assistance programme

• Health cash plan

• Eye care vouchers

• Flu vaccination

Lifestyle

• We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave

• Buy and sell holidays

• Give as you earn scheme

• Paid volunteering days

• Flexible half days leave

• Electric vehicle leasing

• Cycle to work scheme

Next Steps

If you would like to apply, please click on the apply button or visit our Careers Page by 2nd March 2026.

Railpen is committed to creating an inclusive and diverse environment, we value diversity and welcome people from all backgrounds and walks of life.