I love the optimism
This doesn’t seem so far off? I worked in pensions from 2007-2017 and now work in PRT. Pension work was far more interesting in both depth and breadth than what I see now in the life and annuities space. And the pension actuaries I’ve worked with are some of the absolute smartest people I know - plus they can actually communicate well, which is a skill set I took for granted prior to joining a carrier.
Pensions are not a growing field, but the demand is still there, and the problems to be solved are interesting ones.
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I was fortunate to work as an international pension actuary in an era (1972 to 2008) when there was a great demand for such services. I do caution youngsters nowadays though that DB pension plan actuarial work is not a field with growth prospects. There are other actuarial fields with better futures.
Our company discontinued a DB pension program several years ago. Those who were vested were “grandfathered” while those who weren’t had any company contributions to that program rolled over to a 401k program.
Word on the street for this decision was to better attract talent that were far more fluid in their company loyalties (as new hires) as very few now-a-days will stay with a company (even a good one) if they perceive “greener pastures over the fence”.
I guessed this about 50 years ago, so I stepped away after about one year as a junior pension actuarial trainee to work for a large life carrier.
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