Actuaries, pension deficits and saving public money

This week’s Accountancy Age carries an article about actuaries and their assumptions. It might not be fascinating but it is interesting as well as relevant for the public and not-for-profit sectors with their pension deficits.

Perhaps surprisingly the author encourages finance directors to challenge actuaries despite being an actuary himself. While it is unusual for a professional to suggest that their profession doesn’t always know best, it should be remembered that any debate or correspondence is likely to result in fee income for actuaries. (Call me a cynic but I know from recent experience when I tried to do it for a client.)