Actuarial Consulting - Pensions – Industrial Placement 2025
Start date: September 2025
Application Closing Date: 2nd December 2024
Better Decisions Begin with You
Aon shapes decisions for the better to protect and enrich the lives of people around the world. When you join us, you’ll become empowered to make the same impact, as you explore ways of becoming a more relevant, connected and valued professional.
Wealth Solutions : Retirement
Join Aon on an Actuarial Consulting Pensions placement and spend 12 months discovering how our team of global specialists help businesses make smart choices about their employees’ pensions — now, and into the future.
Right now, UK companies have more invested in pension schemes than the rest of Europe combined. But, has each individual company set aside enough to meet their pensions’ obligations in twenty, thirty or even forty years’ time?
As the market leaders in actuarial consulting, our consultants are here to advise our clients on their defined benefit pension schemes, helping them to manage the associated financial and operational risks, now and in the future. As an Aon industrial placement student, you’ll work alongside experts in the industry, earning as you learn and building your career as an Actuary!
Your role on our Actuarial Industrial Placement in Wealth Solutions: Retirement
On your 12-month placement, you’ll find that no two days are the same. You’ll work with a variety of client teams with colleagues who advise either the trustees handling the pension scheme, or the company that provides it.
Our aim is for you to learn about the potential career path ahead of you, while being given real responsibility on client projects. We'll work with you through classroom-based and on-the-job training to develop your technical and consulting skills — including your understanding of key calculations, communication techniques, project management and networking.
What your day could look like:
Actuarial and Analytical Tasks, such as:
- Regular assessment of the financial position of pension schemes
- Identifying and implementing ways for trustees and companies to reduce the risks in relation to their schemes, including longevity risks, investment risks and inflation risk
- Carrying out calculations relating to the pension scheme for the company's financial accounts and with respect to individual pension scheme members' benefits
- Estimating pension protection fund levies
Client Focused Tasks, such as:
- Day-to-day management of the pension scheme and internal projects
- Building and maintaining relationships with clients and other stakeholders of the scheme
- Attending and presenting at client meetings
You’ll be given opportunities to work on a range of projects, gaining early exposure to clients to support your development. You’ll also have the opportunity to be involved in one of our specialist teams, focussing in areas such as:
- Risk Settlement, advising clients on the best way to reduce risk through transferring it to a third party.
- Member Options, helping clients reduce risk and/or cost by offering pension scheme members the choice to reshape their benefits to better suit their individual circumstances.
- Analysis of mortality and other demographic factors using Aon's Demographic HorizonsTM toolkit.
Your Development
You will be enrolled onto our award-winning development programme, where over the 12 months, you will take part in a wide range of insightful and interactive training and development activities in addition to your role. Here are couple of key elements of our development programme:
- Induction – Learn about Aon and our Story, meet and network with your fellow interns and Aon colleagues from across our business including senior leaders; technical and business training to equip you with skills and knowledge to help you in your role
- Aon Business focused project – you and your team will be tasked to research and help to find solutions for a real business challenge. At the end of the project, you will present your findings to a panel of Aon colleagues
- Feedback – when you begin your Aon placement, you will have time with your line manager to discuss your goals and over your 12-month programme you will receive feedback and support.
Your career beyond your Placement
Once you’ve completed the formal Placement programme, depending on your performance, you may be offered a role on our graduate programme for the following year. When you return, you’ll be part of our Launch development programme where we’ll fully support your study towards your professional qualification as a Fellow of the Institute and Faculty of Actuaries. To find out more about the actuarial qualification please visit actuaries.org.uk
Next Steps
If you are interested in our Industrial Placement programme and would like to apply, here are some things to help you:
Entry Requirements:
- As Actuarial Consulting is a mathematically based career path you will need to have or be on track to achieve a 2:1 degree (or equivalent) in a maths, actuarial science, or other highly numerical degree
- You will need to have achieved an A-grade or above in Maths A-level, A-grade in Maths Scottish higher or international equivalent of this
Please be aware for future opportunities, including graduate roles, applicants must be eligible to work in the UK without the need for visa sponsorship now or in the future; or you have pre-settled or settled status from the EU Settlement Scheme – or if you have applied and you're waiting for a decision.
What are we looking for?
- Motivation to pursue an actuarial career – you will need to be able to articulate why you want to be an actuary
- Passion and inquisitiveness – we are looking for candidates who understand what we do and are eager to learn more
- Commercial awareness – this helps us to provide support and advice to our clients with clarity and confidence
Locations:
Our Wealth Solutions: Pensions teams are based across the UK. Here are the locations where we have opportunities this year:
Birmingham, Epsom, Leeds, London, Manchester, St. Albans
We recognise the value for our Early Career colleagues of being in the office environment from the beginning of their programme. As a new early career colleague, you will spend the first 6 months based in the office to support your learning, development, and progression. This will enable you access to support from managers, collaborate with colleagues as well as grow your network across Aon. After completing this initial training period, you will then have the opportunity to work more flexibly, spending at least 3 to 4 days face to face in the Aon office or with clients.
How we support our colleagues
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognise that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working.
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law.
If you require any reasonable accommodations or adjustments, please contact graduates@aon.co.uk and a member of the UK Early Careers team will contact you.
Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.
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