Pensions Actuary: BPA & Strategy

Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.



The Role

As part of the Finance Business Development team, you will help shape and deliver the future of M&G’s growth strategy. Our recent re-entry to the bulk annuity market means that the team requires more talented and motivated actuaries with an understanding of Defined Benefit pensions. You will play a pivotal role in supporting our bulk annuity proposition by designing methodologies, assumptions and models to value BPA liabilities and also to support the business in launching new propositions and new product features.

This is an excellent opportunity for a pensions actuary who is looking to broaden their expertise and transition into insurance, or an actuary in an existing bulk annuity provider with DB pensions knowledge who is looking for their next career step.



Key Responsibilities

• Provide actuarial input into the analysis and assessment of BPA product features and how these impact Finance.
• Assist in the development of pricing, valuation, and modelling assumptions for BPA liabilities.
• Support the creation of financial models and scenario analyses to inform senior decision‑making.
• Contribute to risk assessments and ensure alignment with regulatory, capital, and governance frameworks.
• Prepare clear and concise documentation, presentations, and recommendations for stakeholders.
• Maintain awareness of market trends in DB pensions, de‑risking, longevity, and insurance‑based solutions.
• Collaborate with BAU and Finance teams to ensure smooth transition of new processes into ongoing operations.
• Drive improvements to actuarial controls, data quality, and process efficiency.
• Opportunities to support across our wider product suite outside of bulk annuities.

• Experience in DB pensions, such as scheme valuations, funding advice, risk transfer, bulk annuities.
• Understanding of life insurance valuation or an interest in transitioning into insurance‑based actuarial work.
• Strong communication skills, with the ability to convey complex concepts to non‑technical audiences.
• Ability to apply actuarial judgement to commercial, strategic, and uncertain environments.
• Experience working within strong governance frameworks and managing actuarial risk.
• Ability to prioritise effectively, work independently, and manage competing deadlines.
• Strong analytical skills and familiarity with actuarial modelling tools / software.
• Knowledge of Solvency II, IFRS 17, or insurance reporting (desirable but not essential).

• Fellow of the Institute and Faculty of Actuaries or close to qualification.

• As a savings and Investments firm we are proud to offer a valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services - to help give you real confidence to put your money to work.
• Enjoy 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You…