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Actuarial jobs: pension and life insurance? [closed]
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(I am not sure if this is on topic here, if not then my apologies.)
I am asking this question on behalf of someone who is interested in being an actuary. When one applies for a graduate scheme, it asks you if you would to be in the pension or life insurance division.
I would like to know in what ways do the work they do differ? Do they need slightly different skill set? (if so, how does it differ?
BTW I am from the UK, country specific answer preferred, but I am not to bothered
new-job united-kingdom
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
asked Aug 17 '14 at 21:11
Lost1
1012
closed as off-topic by IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey, bethlakshmi Aug 25 '14 at 15:33
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey
suggest improvements |Â
up vote
-1
down vote
favorite
(I am not sure if this is on topic here, if not then my apologies.)
I am asking this question on behalf of someone who is interested in being an actuary. When one applies for a graduate scheme, it asks you if you would to be in the pension or life insurance division.
I would like to know in what ways do the work they do differ? Do they need slightly different skill set? (if so, how does it differ?
BTW I am from the UK, country specific answer preferred, but I am not to bothered
new-job united-kingdom
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
asked Aug 17 '14 at 21:11
Lost1
1012
closed as off-topic by IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey, bethlakshmi Aug 25 '14 at 15:33
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey
3
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10
suggest improvements |Â
up vote
-1
down vote
favorite
up vote
-1
down vote
favorite
(I am not sure if this is on topic here, if not then my apologies.)
I am asking this question on behalf of someone who is interested in being an actuary. When one applies for a graduate scheme, it asks you if you would to be in the pension or life insurance division.
I would like to know in what ways do the work they do differ? Do they need slightly different skill set? (if so, how does it differ?
BTW I am from the UK, country specific answer preferred, but I am not to bothered
new-job united-kingdom
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
asked Aug 17 '14 at 21:11
Lost1
1012
(I am not sure if this is on topic here, if not then my apologies.)
I am asking this question on behalf of someone who is interested in being an actuary. When one applies for a graduate scheme, it asks you if you would to be in the pension or life insurance division.
I would like to know in what ways do the work they do differ? Do they need slightly different skill set? (if so, how does it differ?
BTW I am from the UK, country specific answer preferred, but I am not to bothered
new-job united-kingdom
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
asked Aug 17 '14 at 21:11
Lost1
1012
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
edited Aug 18 '14 at 6:38
Jan Doggen
11.5k145066
11.5k145066
asked Aug 17 '14 at 21:11
Lost1
1012
asked Aug 17 '14 at 21:11
Lost1
1012
asked Aug 17 '14 at 21:11
Lost1
1012
1012
closed as off-topic by IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey, bethlakshmi Aug 25 '14 at 15:33
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey
closed as off-topic by IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey, bethlakshmi Aug 25 '14 at 15:33
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – IDrinkandIKnowThings, Garrison Neely, Jan Doggen, Michael Grubey
3
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10
suggest improvements |Â
3
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10
3
3
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10
suggest improvements |Â
1 Answer
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Pension actuaries work to help pensions meet the requirements of their beneficiaries and the trustees for the pensions. As listed at the link, that includes evaluating funding and investments, accounting, managing risk, and individual benefits.
This will tend to be more complicated, and requires a substantial knowledge of the laws as well as some understanding of investments. (You're not a trader, but you need to understand how the various investment options work.)
Life insurance actuaries have a somewhat simpler job (although not necessarily easier). They are primarily concerned with pricing life insurance contracts and ensuring fund solvency, but can sometimes fall into other areas as well according to the link.
I would suggest that the pension actuary position is the more 'interesting' one typically, with a bit more varied work, but it also entails more difficult work to learn. Life insurance actuary is more purely mathematical.
answered Aug 18 '14 at 2:35
Joe
8,0322046
suggest improvements |Â
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
up vote
0
down vote
accepted
Pension actuaries work to help pensions meet the requirements of their beneficiaries and the trustees for the pensions. As listed at the link, that includes evaluating funding and investments, accounting, managing risk, and individual benefits.
This will tend to be more complicated, and requires a substantial knowledge of the laws as well as some understanding of investments. (You're not a trader, but you need to understand how the various investment options work.)
Life insurance actuaries have a somewhat simpler job (although not necessarily easier). They are primarily concerned with pricing life insurance contracts and ensuring fund solvency, but can sometimes fall into other areas as well according to the link.
I would suggest that the pension actuary position is the more 'interesting' one typically, with a bit more varied work, but it also entails more difficult work to learn. Life insurance actuary is more purely mathematical.
answered Aug 18 '14 at 2:35
Joe
8,0322046
suggest improvements |Â
up vote
0
down vote
accepted
Pension actuaries work to help pensions meet the requirements of their beneficiaries and the trustees for the pensions. As listed at the link, that includes evaluating funding and investments, accounting, managing risk, and individual benefits.
This will tend to be more complicated, and requires a substantial knowledge of the laws as well as some understanding of investments. (You're not a trader, but you need to understand how the various investment options work.)
Life insurance actuaries have a somewhat simpler job (although not necessarily easier). They are primarily concerned with pricing life insurance contracts and ensuring fund solvency, but can sometimes fall into other areas as well according to the link.
I would suggest that the pension actuary position is the more 'interesting' one typically, with a bit more varied work, but it also entails more difficult work to learn. Life insurance actuary is more purely mathematical.
answered Aug 18 '14 at 2:35
Joe
8,0322046
suggest improvements |Â
up vote
0
down vote
accepted
up vote
0
down vote
accepted
Pension actuaries work to help pensions meet the requirements of their beneficiaries and the trustees for the pensions. As listed at the link, that includes evaluating funding and investments, accounting, managing risk, and individual benefits.
This will tend to be more complicated, and requires a substantial knowledge of the laws as well as some understanding of investments. (You're not a trader, but you need to understand how the various investment options work.)
Life insurance actuaries have a somewhat simpler job (although not necessarily easier). They are primarily concerned with pricing life insurance contracts and ensuring fund solvency, but can sometimes fall into other areas as well according to the link.
I would suggest that the pension actuary position is the more 'interesting' one typically, with a bit more varied work, but it also entails more difficult work to learn. Life insurance actuary is more purely mathematical.
answered Aug 18 '14 at 2:35
Joe
8,0322046
Pension actuaries work to help pensions meet the requirements of their beneficiaries and the trustees for the pensions. As listed at the link, that includes evaluating funding and investments, accounting, managing risk, and individual benefits.
This will tend to be more complicated, and requires a substantial knowledge of the laws as well as some understanding of investments. (You're not a trader, but you need to understand how the various investment options work.)
Life insurance actuaries have a somewhat simpler job (although not necessarily easier). They are primarily concerned with pricing life insurance contracts and ensuring fund solvency, but can sometimes fall into other areas as well according to the link.
I would suggest that the pension actuary position is the more 'interesting' one typically, with a bit more varied work, but it also entails more difficult work to learn. Life insurance actuary is more purely mathematical.
answered Aug 18 '14 at 2:35
Joe
8,0322046
answered Aug 18 '14 at 2:35
Joe
8,0322046
answered Aug 18 '14 at 2:35
Joe
8,0322046
answered Aug 18 '14 at 2:35
Joe
8,0322046
8,0322046
suggest improvements |Â
suggest improvements |Â
3
You could google for that answer on your own. Or you could pop that question on your country's association of actuaries.
– Vietnhi Phuvan
Aug 17 '14 at 21:53
@VietnhiPhuvanmail instead of telling me to use google, which I have in vain, give me a link from your google result? I have not found an article which answered my precise question.
– Lost1
Aug 17 '14 at 22:22
This is based on a U.S. perspective. If you talk to anyone in this field, they will tell you that pensions is a horrible field to get into, mainly due to that the work itself is not actuarial (it is more accounting) and that once you're in pensions, you're stuck in pensions. See here for further discussion.
– user26326
Aug 19 '14 at 17:10