The government has announced today that Martin Clarke has been appointed as the new Government Actuary following an open competition.
He is currently Executive Director of Financial Risk at the Pension Protection Fund (PPF), a post he has held since 2006. As an executive member of the Board, he has led the Investment, Actuarial, Risk and Recoveries teams of the PPF.
Martin Clarke is a Fellow of the Institute and Faculty of Actuaries and has an MA in Mathematics from Cambridge University.
He will take up the post later in the year on a five year fixed term contract. He will succeed Trevor Llanwarne CB, who recently announced his plans to retire.
Prior to the Pension Protection Fund, Martin Clarke worked for 28 years at Co-operative Financial Services, holding a variety of senior management positions in their life and insurance business.
Martin Clarke is also a non-executive Board member of the Lankelly Chase Foundation, a trust which supports people with severe disadvantage, such as homelessness, extreme poverty, abuse or solvent misuse.
Trevor Llanwarne has been the Government Actuary since 2008 and was made a Companion of the Order of the Bath in the 2013 New Year’s Honours in recognition of his contribution to the actuarial profession and public finances.
Martin Clarke’s strength in leading the Investment, Actuarial, Risk and Recoveries teams of the PPF has been recognised through numerous industry awards including “Pensions Risk Manager of the Year” in 2011 from Risk Magazine.
The Government Actuary is the principal actuarial adviser to the government and leads the Government Actuary’s Department and is its Accounting Officer. The Department provides actuarial analysis to inform policy, certify technical actuarial positions and deliver pensions valuations for UK central government, associated bodies and the devolved administrations. It provides advice on insurance, risk, modelling and long-term care as well as the core areas of occupational pensions and long-term social care. It is a Chancellor’s Department.
Martin Clarke will be paid £185,000, which is reflective of the technical and specialist nature of this role. The incumbent, Trevor Llanwarne, is paid £196,697 per annum.
Since 1989 the Government Actuary’s Department has been self-funding through fees charged to its clients for its services. It operates as a shared service provider of all types of actuarial advice to the government and wider public sector.