UK Pension

Consultant /Senior Consultant Pension Actuarial

Human Capital

The Human Capital Offering Portfolio focuses on helping organizations manage and sustain their performance through their most important asset: their people. Centered on five core issues this Portfolio signifies to the market that we see Human Capital as a topic critical to the C-Suite. As we go-to-market we will show our clients that we serve more than HR organizations from the CEO to CFO Risk Manager to Business Unit leader-and that we deliver on our issues and help create value for our clients.

Workforce Transformation (WT) Rewards and Well Beingis a mature practice with over 15 years of experience supporting more than 40 professionals in delivering quality rewards and retirement services across Deloittes sectors and offerings.

At Deloitte our retirement consultants provide a full-range of Pension and OPEB audit and valuation services to clients. Our team members work collaboratively and apply their actuarial knowledge and experience to help clients in providing retirement plan design solutions funding alternative experience studies and de-risking solutions. The team also offers insights into retirement benefits administration of DB and DC plans using ProAdmin software. The team also supports broader areas of Rewards Strategy Workforce Governance and Risk Employer Healthcare and Rewards more about Deloitte WT.

Work youll do

• Support audit teams in the review and evaluation of UK DB pension schemes focusing on compliance with IAS 19 and FRS 102.
• Test clerical accuracy of actuarial and financial reports.
• Review actuarys reports for reasonableness consistency and compliance with relevant standards.
• Test the appropriateness of actuarial assumptions used in pension scheme valuations.
• Participate in planning calls and contribute to the preparation of planning memos.
• Perform initial review of all audit materials related to pension schemes.
• Collaborate with the audit Owner and Firm Actuary (FA) to resolve technical issues.
• Prepare final deliverables including memos and work papers for review by senior team members.

Preferred

• Relevant experience working with UK Defined Benefit pension schemes including actuarial valuations and pension scheme accounting.
• Familiarity with UK pension legislation including tranches (e.g. GMP Excess) and statutory increases.
• Experience supporting financial reporting under IAS 19 and/or FRS 102.
• Basic understanding of UK pension scheme types especially Defined Benefit schemes.
• Awareness of typical options for UK DB pension schemes such as:
  • Transfer Values
  • Early Retirement
  • Late Retirement
  • Pension Increases
  • Augmentation
  • Additional dependent pension
  • Guarantees
• Basic understanding of surplus recognition in pension schemes.

Location: Hyderabad and Bangalore

Required Skills:

UK Pension