Professional Negligence and Liability

Edited by Mark Simpson KC

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Chapter 19 PENSION SCHEME ACTUARIES

Authored by MICHAEL TENNET QC, JONATHAN HILLIARD AND DANIEL PETRIDES

I. AN INTRODUCTION TO THE ROLE OF PENSION SCHEME ACTUARIES

1. General

19.1 Broadly speaking, the job of an actuary involves assessing probabilities and contingencies. Actuaries exercise a degree of expert judgement in relation to possible outcomes and the likelihood of future events occurring. As their role involves a degree of judgement, it is not always straightforward to establish whether negligence has occurred or not. The comments of Buckley J in Re George Newnes 1 are indicative of the traditional approach taken by the courts:

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