What is a pension actuary?

Pensions actuaries advise trustees and companies on the management of their pension schemes. Pensions actuaries work with other specialists, such as pensions lawyers and administrators, to help different pension schemes meet the needs of trustees, employers and scheme members.

How much do pension actuaries make?

The average Pension Actuary salary is $77,199 as of November 29, 2021, but the salary range typically falls between $69,846 and $93,183. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

Can actuaries work in pensions?

Most actuaries work in the financial services sector – including insurance, pensions, healthcare, corporate finance, risk management, investment and banking – in technical, consulting and general management roles.

Why do pensions have an actuary?

A grounding in pensions actuarial work provides a good base from which to expand your career. Developing strong careers in less technical (but key business) areas of sales, people management, project management and communication.

What is the role of an actuary relative to pension plans?

An actuary’s role is to ensure that the company has established an appropriate funding pattern to meet its pension obligations, to make predictions and assumptions about future events and conditions that affect pension costs, and to assist the accountant in measuring facets of the pension plan that must be reported ( …

Are actuaries only in insurance?

The bulk of actuaries are indeed in the insurance trade. But that doesn’t mean opportunities aren’t available outside of the policies and premiums framework. An actuarial career is a largely flexible one – you can say it fits into any business around.

How do I become a pension actuary?

The road to become a pensions actuary in the United States requires long hours of study and successful completion of a number of examinations. Many actuaries begin their education with a four-year degree in business, economics or actuarial science.

What does a pension actuary do in divorce?

Collins Pension Actuaries provides Pension Sharing Reports to enable solicitors and their clients to make an informed decision in the settlement of the divorcing parties’ pensions.