An actuarial lens on the UK's Whole of Government Accounts 2023-24: £5 trillion of liabilities, £1.3 trillion of unfunded pensions, and a balance sheet with less margin than ever. Revenue, expenditure, the pension iceberg, PFI, migration, and what it all looks like scaled to a household earning £50,000.

The Politics Actuary #8 — from the Actuaries in the Wild theme. Some people browse TripAdvisor. Patrick builds a risk matrix.

The Politics Actuary #7 — from the AI & the Actuary theme. Management wanted AI-first. Not everyone got the memo.

I expanded my IAS 19 analysis to 12 FTSE companies and derived a metric from public OCI data that reveals how well each scheme's assets track its liabilities: the hedge ratio. Five companies show ratios above 100%, consistent with leveraged LDI. Investment strategies have shifted dramatically since the 2022 gilt crisis — and the disclosure gap around leverage is a problem.

The Politics Actuary #6 — the first from the Assumption Theatre theme. The gap between the whiteboard and the world outside the window.

Four FTSE companies, 20+ data points each, one hour. AI-extracted IAS 19 pension disclosures from BT Group, BAE Systems, Tesco and BP — compared side by side.

Cartoon #5 in the series. When an eleven-year-old deploys the "everyone has one" argument at the dinner table, most parents cave. An actuarial parent reaches for the notepad.

The Politics Actuary is a weekly cartoon about what happens when an actuary watches the news, reads the small print, and can't keep quiet about it. Set in a fictional household — a dad who can't switch off his professional brain, a family who've learned to live with it, and ...

The Politics Actuary is a weekly single-panel cartoon about actuaries, politics, the profession, everyday life, and the absurdities of overregulation. It follows a fictional household: a dad who can't switch off his professional brain, a family who've learned to live with it, and an inexplicable pet crocodile. Any resemblance to ...

The Politics Actuary is a weekly cartoon about what happens when an actuary watches the news, reads the small print, and can't keep quiet about it. Set in a fictional household — a dad who can't switch off his professional brain, a family who've learned to live with it, and ...