Technical Actuary

Job Description

We are seeking a Technical Actuary to join our team and play a key role in delivering high-quality actuarial support across our portfolio of Bulk Purchase Annuity (BPA) schemes.

We are seeking a Technical Actuary to join our team and play a key role in delivering high-quality actuarial support across our portfolio of Bulk Purchase Annuity (BPA) schemes.

Permanent

This role could be based from our London, Edinburgh, Telford or Birmingham office with time spent working from home and from the office.

All our roles are open to part‑time, job‑share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process. You can read more about flexible working here.

From £56,200 depending on experience plus discretionary bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures.

Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.

We are seeking a Technical Actuary to join our team and play a key role in delivering high‑quality actuarial support across our portfolio of Bulk Purchase Annuity (BPA) schemes. This role involves close collaboration with both internal teams and external stakeholders to ensure the accurate and efficient delivery of member options throughout the end‑to‑end journey, from initial contract reviews through to buy‑out.

You will use your technical expertise to support the development, review and enhancement of actuarial calculations, processes and models, ensuring robust governance and a consistently strong member experience.

• Collaborate with external stakeholders (including scheme advisers, trustees and outsourced partners) and internal teams (such as Pricing, Transition, and Data Services) to support a consistent and aligned member option journey for all schemes.
• Ensure member options and benefits are determined in line with transaction benefit specifications, seeking opportunities to enhance efficiency, accuracy and the overall member experience.
• Provide subject matter expertise on actuarial topics such as GMP Equalisation and their impact on member options.
• Review actuarial calculations completed by administrators, including transfer value calculations and retirement projections.
• Develop and maintain clear, well‑structured documentation for actuarial processes, identifying improvements where appropriate.
• Ensure all work produced has appropriate governance, including audit trails and version control.
• Provide technical actuarial oversight on exercises such as PIE, ETV and Level Pension Options.
• Implement and review factor assumptions across the BPA scheme portfolio.
• Build and maintain cashflow projection models aligned to transaction benefit specifications.
• Monitor legislative and market developments that may affect actuarial aspects of the proposition.
• Provide actuarial expertise to ongoing projects and manage actuarial work streams as required.

• Qualified Actuary with strong experience post‑qualification, specialising in pensions.
• Strong technical understanding of Defined Benefit pensions legislation.
• Extensive experience reviewing member calculations, including GMP Equalisation, CETV and retirement quotations.
• Experience setting factor bases and generating actuarial factors.
• Experience building models for factor generation and cashflow…