A
Actuarial Hopeful
Member
What do people think is the future for pensions actuaries?
This is actually something I explicitly asked a pensions actuary during an interview I had for a graduate trainee position with Aon (unfortunately I was unsuccessful), and his answer was that there would still be a significant demand for them in the future. He cited reasons such as new legislation which would require significant actuarial involvement to implement, and the fact that pension schemes take years to wind up, as to why the future is still fairly bright for pensions actuaries.
I have heard, though, from other sources that the future in pensions for actuaries is actually rather bleak. Which assessment of the situation do you agree with?
If most companies do finish up converting to Defined Contributions Schemes, will there not still be a demand for actuaries, or do DC schemes require far less actuarial involvement than DB schemes?
Forgive my ignorance, but I still haven’t managed to secure an actuarial trainee position and I’m predominantly interested in going into the consultancy aspect of actuarial work. I realise that there are opportunities in consultancy to work in Life or General, but these roles are even harder to obtain given the smaller number available.
This is actually something I explicitly asked a pensions actuary during an interview I had for a graduate trainee position with Aon (unfortunately I was unsuccessful), and his answer was that there would still be a significant demand for them in the future. He cited reasons such as new legislation which would require significant actuarial involvement to implement, and the fact that pension schemes take years to wind up, as to why the future is still fairly bright for pensions actuaries.
I have heard, though, from other sources that the future in pensions for actuaries is actually rather bleak. Which assessment of the situation do you agree with?
If most companies do finish up converting to Defined Contributions Schemes, will there not still be a demand for actuaries, or do DC schemes require far less actuarial involvement than DB schemes?
Forgive my ignorance, but I still haven’t managed to secure an actuarial trainee position and I’m predominantly interested in going into the consultancy aspect of actuarial work. I realise that there are opportunities in consultancy to work in Life or General, but these roles are even harder to obtain given the smaller number available.