Calculates how much employers must set aside to pay future pensions and certifies the funding of retirement plans. BLS does not publish separate figures for actuaries; it counts them within actuary (SOC 15-2011), whose median pay is $130,000 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 15-2011
- Computer and Mathematical
- Last updated October 9, 2026
At a glance
Pension Actuary in four numbers
- Median pay
- $130,000a year, or $62.50/hrBLS OEWS, May 2025Lowest 10% $79KTop 10% $215K
US median, all jobs: $50,980
- Projected growth
- +9.2%Much faster than averageBLS EP, 2025–2035This career+9.2%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +9.2% All jobs +3.5% - Openings a year
- 1,50031,200 jobs todayBLS EP, 2025–2035
- Jobs in 202531.2K
- Projected 203534.1K
Employment, 2025–2035 Item Value Jobs in 2025 31.2K Projected 2035 34.1K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
Also advertised as: Enrolled Actuary, Retirement Actuary, Pension Consulting Actuary, Retirement Plan Actuary, Defined Benefit Actuary.
Pay
How much do Actuaries make?
Every pension actuary in the US, by percentile of annual wage
Median
$130,000
Middle half earn $97,680 to $170,650
- 10th
- $78,570
- 25th
- $97,680
- 75th
- $170,650
- 90th
- $215,100
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $78,570 |
| 25th | $97,680 |
| Median | $130,000 |
| 75th | $170,650 |
| 90th | $215,100 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $130,000
- Median hourly wage
- $62.50/hr
- Mean annual wage
- $141,480
- People employed
- 26,670
Versus all US occupations
At $130,000, Actuaries earn 155% above the $50,980 median across all US occupations, a difference of $79,020 a year.
Versus computer and mathematical occupations
Inside the Computer and Mathematical group, where the middle occupation pays $116,580, this is 12% above the group median.
Pay range
The top 10% earn $215,100 or more while the bottom 10% earn $78,570, a gap of 2.7×. That is a typical spread for a US occupation.
Rank in the bank
This median pays more than 87% of the 1,741 occupations in the NueCareer career bank.
Highest-paying state
Connecticut pays the most at $166,800, and still leads at $160,988 once local prices are taken into account.
Pay by state
Which states pay Actuaries the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1Connecticut | $166,800 | $160,988 | 1,380 |
| 2District of Columbia | $166,230 | $151,254 | 160 |
| 3New York | $156,480 | $144,995 | 2,630 |
| 4New Jersey | $142,800 | $131,244 | 1,260 |
| 5Alabama | $136,950 | $154,183 | 190 |
| 6Arizona | $135,870 | $134,956 | 200 |
| 7Washington | $134,720 | $125,891 | 360 |
| 8Utah | $132,720 | $134,245 | 180 |
| 9Nevada | $132,370 | $132,398 | 120 |
| 10Florida | $132,110 | $127,749 | 1,300 |
Job outlook
Is Pension Actuary a growing career?
Employment change over 2025–2035, against every US occupation
Much faster than average. +9.2% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Actuaries | +9.2% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Much faster than average
BLS projects employment of Actuaries to change 9.2% over 2025–2035, roughly 2.6× the 3.5% projected for all occupations. That is 2,900 more jobs.
Annual openings
About 1,500 openings are projected each year, 4.8% of the 31,200 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Pension Actuary
Pension actuaries need a bachelor's degree, often in actuarial science, mathematics or statistics, and pass Society of Actuaries exams in the retirement track toward the Associate and Fellow designations.
To sign required filings for private pension plans under ERISA, actuaries must be Enrolled Actuaries, licensed by the Joint Board for the Enrollment of Actuaries after passing its exams and meeting experience requirements. Most start as actuarial analysts at consulting firms, studying for exams while working. Strong communication skills matter, since actuaries explain complex results to plan sponsors and trustees.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
None
- 3
Typical on-the-job training
Long-term on-the-job training
- 4
Preparation needed (O*NET job zone)
Medium preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
The work
What does a Pension Actuary do?
Pension actuaries work with defined benefit plans, the traditional pensions that promise workers a set retirement income. They estimate how long participants will live, when they will retire, and how investments will perform, then calculate what the plan owes and how much the employer must contribute each year.
They prepare annual valuations, certify funding under federal law, and calculate pension costs for corporate financial statements. Pension actuaries also advise employers and public pension systems on plan design, funding strategy, lump-sum offers, and transferring pension obligations to insurers. Many work at consulting firms serving corporations, unions, and state and local governments.
Day-to-day tasks
- Perform annual actuarial valuations of pension plans
- Calculate required employer contributions
- Certify plan funding status for regulatory filings
- Compute pension expense for financial statements
- Model the effects of plan design changes
- Advise sponsors on lump-sum offers and pension risk transfer
- Present results to plan trustees and boards
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Pension actuaries work in offices at consulting firms, insurers and government pension systems, with many hybrid arrangements. Workloads peak around plan year-end and filing deadlines. Some travel to present to boards and trustees. Early-career actuaries balance work with exam study.
Where the work happens
Indoors, climate-controlled
NeverEvery dayIndoors, in a climate-controlled space, every day.
Outdoors in all weather
NeverEvery dayAlmost never works outdoors.
Physical demands
Sitting
NeverAlmost all the timeSeated for more than half the working day.
Standing
NeverAlmost all the timeBending or twisting
NeverAlmost all the time
Working with people
Contact with other people
NoneConstantFace-to-face discussions
NeverEvery dayFace-to-face discussions every day.
Dealing with the public
Not importantExtremely important
Pressure and stakes
Strict deadlines
NeverEvery dayConflict situations
NeverEvery dayCost of a mistake
Not seriousExtremely serious
Autonomy
Freedom to decide
NoneA lotA lot of freedom to make decisions without checking first.
Conditions: O*NET Work Context survey. Each item has its own scale, so each dot is read against the two answers that end its own line.
Core skills
O*NET importance, 1 to 5
- Mathematics4.4
- Reading Comprehension4.1
- Active Listening4.0
- Critical Thinking4.0
- Writing3.9
- Speaking3.9
- Active Learning3.4
- Monitoring3.0
| Item | Value |
|---|---|
| Mathematics | 4.4 |
| Reading Comprehension | 4.1 |
| Active Listening | 4.0 |
| Critical Thinking | 4.0 |
| Writing | 3.9 |
| Speaking | 3.9 |
| Active Learning | 3.4 |
| Monitoring | 3.0 |
Source: O*NET 31.0 Database
Transferable skills
O*NET importance, 1 to 5
- Complex Problem Solving4.0
- Judgment and Decision Making4.0
- Systems Evaluation3.9
- Systems Analysis3.8
- Operations Analysis3.1
- Social Perceptiveness3.0
- Coordination3.0
- Negotiation3.0
| Item | Value |
|---|---|
| Complex Problem Solving | 4.0 |
| Judgment and Decision Making | 4.0 |
| Systems Evaluation | 3.9 |
| Systems Analysis | 3.8 |
| Operations Analysis | 3.1 |
| Social Perceptiveness | 3.0 |
| Coordination | 3.0 |
| Negotiation | 3.0 |
Source: O*NET 31.0 Database
Tools and software
- Analytical or scientific software · in demand
- Business intelligence and data analysis software · in demand
- Data base user interface and query software · in demand
- Development environment software · in demand
- Object or component oriented development software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Process mapping and design software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Word processing software · in demand
- Compliance software
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Pension Actuary?
NueCareer estimate (Holland code ICE) built on O*NET's Actuary profile, scored 1 to 7
| Axis | Pension Actuary |
|---|---|
| Realistic | 2 |
| Investigative | 5 |
| Artistic | 1 |
| Social | 2 |
| Enterprising | 4 |
| Conventional | 6 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around organising, following procedures and working precisely with data, combined with investigating, analysing and solving problems with ideas and data.
- Conventional6.3
- Investigative5.0
- Enterprising3.9
- Social2.5
- Realistic1.8
- Artistic1.1
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Pension Actuary
O*NET related occupations
- Computer and Mathematical
- Business and Financial Operations
- Business and Financial Operations
- Business and Financial Operations
- Business and Financial Operations
Compensation, Benefit, and Job Analysis Specialist
$78,210median a year
Most earn $49K to $129K
+6.0%Bachelor's - Business and Financial Operations
More computer and mathematical careers
Median annual pay, with actuaries highlighted
- Software Developer$135,980
- Actuary$130,000
- Pension Actuary$130,000
- Data Scientist$120,230
- Business Intelligence Analyst$120,230
- Database Administrator$104,620
- Web Designer$104,000
- Computer Programmer$100,390
- Web Developer$92,650
| Item | Value |
|---|---|
| Software Developer | $135,980 |
| Actuary | $130,000 |
| Pension Actuary | $130,000 |
| Data Scientist | $120,230 |
| Business Intelligence Analyst | $120,230 |
| Database Administrator | $104,620 |
| Web Designer | $104,000 |
| Computer Programmer | $100,390 |
| Web Developer | $92,650 |
Source: BLS OEWS, May 2025
Lists Pension Actuary appears on
Questions
Pension Actuary: frequently asked questions
How much do Actuaries make?
BLS does not publish a separate wage for actuaries. It counts them within actuary, whose median pay is $130,000 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $97,680 and $170,650, and the top 10% earn $215,100 or more.
Do you need a degree to become a Pension Actuary?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Actuaries, and O*NET rates the preparation needed as medium preparation. BLS also lists long-term on-the-job training as typical on-the-job training.
Is Pension Actuary a growing career?
Yes, strongly. Employment is projected to grow 9.2% over 2025–2035, more than double the 3.5% projected for all occupations (BLS EP, 2025–2035). BLS still projects about 1,500 openings a year, mostly from workers retiring or moving to other work.
What does a Pension Actuary do?
Pension actuaries work with defined benefit plans, the traditional pensions that promise workers a set retirement income. A typical task: perform annual actuarial valuations of pension plans. Employers most often ask for Analytical or scientific software, Business intelligence and data analysis software, Data base user interface and query software.
Which states pay Actuaries the most?
The highest state medians for Actuaries are Connecticut ($166,800), District of Columbia ($166,230), New York ($156,480) (BLS OEWS, May 2025).
What personality type suits a Pension Actuary?
O*NET scores Actuaries highest on the Conventional, Investigative and Enterprising interest areas, so the work mixes organising, following procedures and working precisely with data with investigating, analysing and solving problems with ideas and data. On NueCareer's MBTI-to-interest mapping the closest types are ISTJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.