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- Tasks: Join the Pensions Policy Team to support trustees and engage with stakeholders on pension matters.
- Company: Railpen, a leading custodian of UK pension schemes with a strong community focus.
- Benefits: Competitive salary, generous leave, health benefits, and a lifelong pension scheme.
- Why this job: Make a real impact on pension policy while working in a supportive and collaborative environment.
- Qualifications: Fellow of the Faculty and Institute of Actuaries with experience in DB funding regulations.
- Other info: Flexible working options and a commitment to diversity and inclusion.
The predicted salary is between 36000 - 60000 £ per year.
We have a unique opportunity for a Pensions Actuary to join Railpen’s Pensions Policy Team on a permanent basis.
Who we are
Railpen is responsible for the safekeeping and investment of around £34 billion in assets and the administration of several pension schemes, including the Railways Pension Scheme, one of the UK\’s largest and longest established UK pension funds.
Our heritage of looking after the pension needs of the rail industry and its employees gives us our name and our unique outlook on how we serve our members. Railpen takes a holistic view, focusing on how we serve members today and how we can positively impact the communities and the world they will retire into.
To learn more about Railpen including our values, culture and purpose, visit our LinkedIn Life page.
The team and the role
The Pensions Policy Team works closely with the Trustee and its sub-committees to assist the Trustee in meeting its obligations relating to integrated funding and policy matters for the railways pension schemes. This role will act on the Trustee’s behalf to engage with sponsoring employers and other stakeholders, working towards good outcomes on integrated funding and policy matters.
The team maintains a high standard of delivery to the Trustee so it can meet its strategic objectives as the custodian of some of the largest open DB schemes in the UK. The work includes: understanding the Trustee’s obligations and supporting the Trustee in meeting them, representing Trustee interests in discussions with sponsoring employers and other stakeholders, using professional judgement to consider what issues to raise with the Trustee and ensuring the Trustee’s decisions are executed once they have been made.
A major immediate focus for the role is the upcoming 31 December 2025 actuarial valuations of the Railways Pension Scheme, to support the Trustee and employers reaching agreement on each of the distinct 100+ RPS sections. Alongside this the role will involve exposure to various aspects of day to day scheme management and Trustee delivery, working with other team members and external advisors to provide a high quality service to the Trustee.
This role is not eligible for visa sponsorship. Applicants must have the legal right to work in the UK.
The person
The ideal candidate will be a Fellow of the Faculty and Institute of Actuaries (or equivalent) with some experience in supporting trustees under the scheme-specific DB funding regulations, with an understanding of the integration of investment, funding and covenant considerations in decision-making. The candidate will have an appreciation for the different funding and investment approaches to be tailored to the separate requirements of open and closed DB schemes, including experience of taking closed DB schemes to their ‘endgame’. A knowledge of DC arrangements would also be beneficial.
We are looking for someone who is able to communicate effectively, who is adaptable, collaborative in their approach and is able to build effective relationships with Railpen colleagues, external advisors, industry peers and stakeholders. Exceptional attention to detail and ability to work independently with focus on delivering best practice and overall continuous improvement will also be key to this role.
Our values of integrity, community and alignment are the guiding principles that influence our behaviour. They help us make decisions and shape our relationships with others. They’re what we stand for. You will actively demonstrate our values, helping to create a safe environment, to place the needs of the community above oneself and, through a culture of ‘fair challenge’, align to the best interests of our members.
What we can offer you
- A competitive salary
- 28 days annual leave plus bank holidays
- Generous annual bonus plan
- We provide membership of the Railways Pension Scheme, a Defined Benefit arrangement under which you get a pension for life and a lump sum when you retire, based on your length of service and pay
- Life Assurance cover
- Colleague referral scheme
Health & Wellbeing
- Employee assistance programme
- Health cash plan
- Eye care vouchers
- Flu vaccination
Lifestyle
- We support hybrid and flexible working along with very generous family leave including 12 months full pay maternity leave and 6 months full pay paternity leave
- Buy and sell holidays
- Give as you earn scheme
- Paid volunteering days
- Flexible half days leave
- Electric vehicle leasing
- Cycle to work scheme
Please apply for the role by Monday 20th October 2025.
Railpen is committed to creating an inclusive and diverse environment, we value diversity and welcome people from all backgrounds and walks of life.
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Pensions Policy Actuary employer: Railpen
Contact Detail:
Railpen Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pensions Policy Actuary
✨Tip Number 1
Network like a pro! Reach out to your connections in the pensions and actuarial field. Attend industry events or webinars, and don’t be shy about introducing yourself to potential employers. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by researching Railpen’s values and recent projects. Tailor your responses to show how your experience aligns with their mission. Practise common interview questions and think of examples that highlight your skills in communication and collaboration.
✨Tip Number 3
Follow up after interviews! A quick thank-you email can go a long way in leaving a positive impression. Mention something specific from your conversation to remind them of your enthusiasm for the role and the company.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining the Railpen team. Let’s get you that dream job!
We think you need these skills to ace Pensions Policy Actuary
Some tips for your application 🫡
Know Your Stuff: Before you start writing, make sure you understand the role and what Railpen is all about. Dive into their values and mission to show that you’re not just another applicant, but someone who genuinely connects with their purpose.
Tailor Your Application: Don’t just send a generic CV and cover letter. Highlight your experience as a Fellow of the Faculty and Institute of Actuaries and how it relates to the specific needs of the Pensions Policy Team. Make it personal!
Showcase Your Skills: Use your application to demonstrate your communication skills and attention to detail. Give examples of how you've built relationships in previous roles and how you’ve tackled complex issues. We want to see your problem-solving prowess!
Apply Through Our Website: Make sure to submit your application through our website. It’s the best way for us to keep track of your application and ensures you don’t miss out on any important updates. Plus, it shows you’re serious about joining the team!
How to prepare for a job interview at Railpen
✨Know Your Numbers
As a Pensions Policy Actuary, you'll need to be comfortable with complex data and financial figures. Brush up on your understanding of DB funding regulations and the specifics of the Railways Pension Scheme. Be ready to discuss how you would approach the upcoming actuarial valuations and what factors you would consider.
✨Showcase Your Communication Skills
This role requires effective communication with trustees, employers, and stakeholders. Prepare examples of how you've successfully communicated complex actuarial concepts in the past. Think about times when you had to adapt your communication style to suit different audiences.
✨Demonstrate Your Collaborative Spirit
Railpen values collaboration, so be prepared to discuss your experience working in teams. Highlight instances where you’ve worked with external advisors or peers to achieve a common goal. Show that you can build relationships and work towards good outcomes together.
✨Align with Their Values
Familiarise yourself with Railpen's values of integrity, community, and alignment. During the interview, reflect these values in your answers. Share examples of how you've prioritised community needs or demonstrated integrity in your previous roles, showing that you’re a good cultural fit.