- scheme actuary
The actuary appointed to advise the trustees of an occupational pension scheme. Most occupational schemes must appoint an actuary, who must be a named individual rather than a firm. The actuary must also be a Fellow of the Faculty and Institute of Actuaries (or else approved by the Secretary of State for Work and Pensions). The actuary's main task is to conduct and certify regular actuarial valuations of the scheme's assets and liabilities. See the Faculty and Institute of Actuaries website .
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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