These appointments are permanent and pensionable.
Location
Our office is located in Central London and is unlikely
to move to any other area in the foreseeable future.
Salary
The salary range for these posts is £25,900 to £48,600
(subject to review).
Your pay will normally start at the
minimum, but you will be eligible for staggered increases
if you have qualifications which exempt you from some
actuarial examinations. Thereafter salary progression will
be determined
by examination passes. On successful completion of the
Core Technical subjects of the Institute/Faculty examinations,
you will receive an extra increase. All trainees are
eligible, in addition, for performance increases against
agreed standards
and targets which are assessed on a yearly basis.
Prospects
Promotion to Actuary (with a salary range of £49,000
to £112,050, subject to review) will be made upon
passing all the examinations of the Institute or Faculty
of Actuaries. Pay as an Actuary, and further promotion,
will depend upon regular assessment and performance.
Hours
You will normally work a 5-day week of 36 hours (including
study leave), excluding lunch breaks. A system of flexible
working hours is in operation.
Annual Leave
You will be entitled to 25 days paid leave per annum, plus
10½ days public and privilege holidays. This increases
to 30 days on qualification.
Relocation Expenses
If you have to sell a house to take up the appointment
you may qualify for financial assistance. Certain costs
may be reimbursed up to a maximum of £5,000.
You should obtain the agreement of the Government Actuary's
Department before committing yourself to relocation expenses
which you hope to have reimbursed. Payment will be made
after you have started work and you will be required to
repay a proportion if you resign within two years.
We can also assist in finding rented accommodation if you
are successful at being offered a position.
Exam Hurdles
You are expected to achieve a suitable
standard in performance and exam success. You will be expected
to pass all the examinations of the Institute of Actuaries
or of the Faculty of Actuaries within eight years of entry
to the profession, making steady progress throughout this
period. Hurdles are set at 2, 4 and 6 years.
