Pensions Actuarial Consultant (London)

Location – London, with hybrid working in line with departmental requirements (currently a minimum of 40%, or 2 days per week).

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

What’s the role?

We have an opportunity to join our pensions actuarial department in London and support our continued growth in the DB pensions market. We are ideally looking for candidates who will divide their time between pensions actuarial and pensions risk transfer (PRT) work, although we are flexible on the split depending on your strengths and interests.

Who are the team?

Our pensions actuarial department in London consists of over 150 people, from analysts to partners. They advise trustees and sponsors on a wide range of DB pensions issues – from core work such as actuarial valuations and member options exercises to strategic advice and project work.

LCP’s highly respected, market‑leading specialist Pensions Risk Transfer team sits alongside the wider pensions actuarial department. Most people within the Pensions Risk Transfer team divide their time across a number of areas of pensions advice.

Everyone in the department has their own client mix, which means they work with a wide range of colleagues and advise a variety of clients. This means the client work is varied and interesting, with plenty of opportunities to learn from others in the team.

What will you be doing?

Our clients range from small schemes with only a handful of members to large schemes of over £1bn. You’ll work on a variety of schemes, each with its own priorities. This will also include:

• Coordinating actuarial calculations with less experienced team members on your clients and reviewing these calculations along with the associated advice. At consultant level, you will be expected to take ownership of workstreams with support from more senior members of the team.
• Within the Pensions Risk Transfer team, you would play a central role in broking insurance transactions, liaising and negotiating with insurers, attending meetings and managing projects.
• Within our department, there are also opportunities to join other specialist teams, for example those covering longevity, GMP equalisation and Collective Defined Contribution schemes.
• Everyone at all levels is encouraged to attend client meetings to help develop their consulting skills. Your client list will be designed to give you opportunities to attend and present at client meetings alongside a more senior member of the team.
• You will also have the opportunity to attend industry networking events, with LCP playing a key role in organising events aimed at consultant level.

What skills and experience are we looking for?

• A qualified pensions actuary, or someone very close to qualification, with demonstrable experience in the UK pensions actuarial consulting environment
• Excellent UK pensions technical knowledge, with the ability to review core technical work such as actuarial valuation calculations, member options calculations and pensions accounting
• Awareness of current issues and key topics in the UK pensions industry
• Ability to draft clear communications and produce effective presentations
• Ability to delegate tasks to less experienced team members, while explaining the wider context
• Good commercial awareness, with the ability to work within agreed budgets

You do not need prior experience in Pensions Risk Transfer work, as we are happy to provide training as needed. We’re simply looking for someone who is keen to learn and get involved.

What qualities and behaviours will help you thrive?

• Excellent technical pensions knowledge, with the ability to suggest your own approach to complex calculations
• Good communication skills – able to explain your approach and results to more senior team members, and willing to challenge constructively where appropriate
• Excellent organisational skills
• A collaborative team player, with the ability to build strong relationships both within and outside LCP
• Approachable and willing to support less experienced team members, helping to foster a supportive working environment

What’s in it for you?

Take a look at our Glassdoor 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
• Cycle to work scheme
• Digital GP services

For your wealth:

• Discretionary bonus scheme
• 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 – accessibilityaware@lcp.uk.com 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 or candidate profiles from agencies who are not part of our currentPSL. 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 or candidate profiles are submitted to any employee or Partner at LCP.

Pensions Actuarial and Pension Risk Transfer

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