What does the actuarial team do?
We help pension scheme trustees and employers manage their pension schemes.
We work with trustees to make sure they can pay all the benefits promised to scheme members. This involves grappling with huge uncertainties. How will inflation affect those payments in future? And how long will the scheme have to pay each scheme member, or in starker terms, when will they die? Actuarial work tries to make sense of those uncertainties, to help trustees decide how best to fund retirement benefits.
For employers, it’s more about managing risk. Employers want to know that the pension promises they make to staff won’t cost the company more than expected.