Pensions Actuarial Consultant

LGBT Great; Greater London; Hybrid; GBP 70,000 - 110,000; Full time

Benefits offered by this job

Hybrid working

Professional study support

Wellbeing networks

Life assurance

Income protection

Enhanced parental leave

Pension scheme

Discretionary bonus

Season ticket loans

Volunteering opportunities

Electric vehicle salary sacrifice

Job summary

LCP is seeking a Pensions Actuarial Consultant in London with hybrid working options. The role supports DB pensions and PRT work, balancing actuarial and risk transfer tasks across client projects.

Ideal candidates have 4+ years in UK pensions consulting, strong technical knowledge, and the ability to communicate clearly. The team offers learning, collaboration, and diverse client exposure within a supportive, inclusive environment.

Qualifications

• Actuary (preferably qualified) with at least 4 years’ experience in UK pensions actuarial consulting.
• Strong UK pensions technical knowledge with core valuation and member options experience.
• Awareness of current UK pensions industry topics.
• Ability to draft clear communications and presentations.
• Ability to delegate tasks and manage workstreams with oversight.

Responsibilities

• Work on a variety of schemes with client priorities and scale from small to large.
• Coordinate actuarial calculations and review with junior team members; own workstreams.
• Play a central role in Pensions Risk Transfer: liaise with insurers and manage transactions.
• Explore opportunities to join other specialist teams and further learning.

Skills

Actuary (qualified)

UK pensions actuarial consulting

Job description

Pensions Actuarial Consultant

Business area Pensions Actuarial and Pension Risk Transfer

Location London

Job ID 315400

Location - London with hybrid working available

LCP is an award-winning actuarial and analytics consultancy providing market-leading capabilities and advice across pensions and financial services, energy, and health. We combine powerful analytics with human expertise to help shape a more positive future.

We have an exciting opportunity to join LCP as a Consultant in our Pensions Actuarial Department, supporting our continued growth in the DB pensions market. We are preferably looking for candidates to divide their time between pensions actuarial and pensions risk transfer (PRT) work, but we are flexible on the split between the two depending on your strengths and interests.

The team

Our pensions actuarial department in London consists of over 150 people, from analysts to Partners. The team advises trustees and sponsors on a wide range of DB pensions issues, from core work such as actuarial valuations and member options advice to strategic advice and project work.

Our specialist Pensions Risk Transfer team sits within our pensions actuarial department and has the deepest experience of any team in the market. The team are highly respected within the industry having led the market since its inception. The majority of people within the Pensions Risk Transfer team divide their time across a number of aspects of pensions advice.

Everyone in the department has their own unique client mix, meaning that everyone works with lots of different people to advise a range of different clients. This means that the client work is varied and interesting, and there are always new opportunities to learn from others in the team.

What will you be doing?

As a Consultant you will be

• Working on a variety of schemes, each with their own priorities, our clients range from small schemes with only a handful of members, to large schemes of over 1bn
• Coordinating actuarial calculations with less experienced team members on your clients and reviewing these calculations along with the associated advice. At consultant level, you are expected to take ownership of workstreams with support from senior members of the team
• Undertaking a central role within the Pensions Risk Transfer team, in broking insurance transactions, liaising and negotiation with insurers, attending meetings and managing projects from start to end
• Exploring within our department opportunities to join other specialist teams, for example covering longevity, GMP equalisation, Collective Defined Contribution schemes and post transaction work

Everyone at all levels is encouraged to attend client meetings to help develop their consulting skills. Your client list will be designed such that you have opportunities to attend and present at client meetings along with a more experienced members of the team. You will also have the opportunity to attend industry networking events, with LCP playing a key role organising events targeted at consultant level.

What skills and experience are we looking for?

• An actuary (preferably qualified) with at least 4 years’ experience working in the UK pensions actuarial consulting environment

• Strong UK pensions technical knowledge – able to review core technical work such as actuarial valuation and member options calculations and pensions accounting

• Awareness of current issues and key hot topics in the UK pensions industry

• Ability to draft clear communications and presentations

• Ability to delegate tasks to less experienced members in the team, explaining the wider context

• Good commercial awareness with the ability to consider agreed budgets when carrying out work

You do not need any prior experience of Pensions Risk Transfer work as we are happy to provide training as required. We simply ask that candidates are keen to learn and get involved.

What qualities and behaviours should you bring?

• Technically strong and able to propose your own ideas on how to approach complex calculations

• Good communication skills – able to explain the approach taken and results to more senior team members, and be willing to challenge

• Ability to prioritise workloads with conflicting importance and flexibility to adapt to different client needs

• Team player with the ability to build strong relationships both within and outside LCP

• Approachable and happy to assist less experienced team members, fostering a supportive working environment

What’s in it for you?

LCP’s pensions actuarial department is growing as we expand our client base and continue to take on new projects for our existing clients. Our goal is to be the leading long-term partner for DB advice and deliver better outcomes for members, trustees, sponsors and society. With this comes opportunities to work on wide-ranging clients and projects and progress within the business.

Also, take a look at our and Career stories pages to see why our people love being here! As well as joining a certified B-Corp, multi-award winning, fun, collaborative, people first organisation where your personal and professional skills will be developed to make you the best you can be, we offer an attractive benefits package designed to promote your overall wellbeing so that you are able to perform to your full potential both in and out of work. Currently our core benefits package includes:

For you:

• Hybrid working (see top of the advert for details)
• Professional study support (where applicable)
• Access to our internal Wellbeing, LGBTQ+, Multicultural and Women’s networks

For your family:

• Life assurance
• Income protection
• Enhanced maternity/paternity/adoption and shared parental leave

For your health:

• 26 days annual leave (pro-rata for part-time working) plus bank holidays (most of which can be taken flexibly!) with options to buy & sell holiday
• Private medical insurance
• Discounted gym memberships, critical illness and dental insurance through our flexible benefits
• Eye care vouchers
• Cycle to work scheme
• Digital GP services

For your wealth:

• Competitive pension scheme
• Discretionary bonus scheme
• High street discounts
• Season ticket loans

For others:

• Volunteering opportunities

For the environment:

• Electric vehicle salary sacrifice scheme (qualifying period applies)

And much more!

We continuously strive to build an inclusive workplace where all forms of diversity are valued, including age, background, disability, gender, gender identity, gender expression, race, religion or sexual orientation.

LCP is committed to making our opportunities accessible to all and would welcome you getting in touch to let us know if an adjustment can be made to help with your application. This may be extra time for assessments, pre-interview site visits, interview structure or questions, or asking us about building accessibility. Whatever it may be, please get in touch via our dedicated email address - to discuss how we can support you with your application.

Recruitment agencies

LCP operates a Preferred Supplier List (PSL) for recruitment agencies which is reviewed annually. We do not accept unsolicited CVs from agencies who are not part of our current PSL. LCP only pay agency fees where we have a signed agreement in place, and the agency has been instructed by a member of our recruitment team to supply CVs via the Applicant Tracking System (ATS) for a legitimate, open vacancy. If this process is not adhered to, LCP reserve the right to contact these candidates directly and have discussions with them without paying any agency fees. We do not pay agency fees when speculative and unsolicited CVs are submitted to any employee or Partner at LCP.