News
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PPF guidance on bulk transfers: announcement from the Actuarial Profession
The PPF allows this Post-Transfer Valuation to be based on an asset value that has not been audited, but nevertheless requires that the actuary certify that the value of the assets is unlikely to be overstated. Scheme Actuaries are reminded that, under ... read more >>
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New Chartered Enterprise Risk Actuary (CERA) qualification
The Profession's ST9 exam will be the basis for CERA status awarded by the UK Profession, and could also be used in the future by other national actuarial associations. ... read more >>
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Risk and investment conference, 2011. Research topics
Also please let us know if you have any other research suggestions. ERM topics Notify mark.symons@actuaries.org.uk ... read more >>
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Worshipful Company of Actuaries receives royal charter
The presentation took place at a banquet in Mansion House on 26 April 2010 hosted by Sir John Stuttard, the Lord Mayor Locum Tenens, who was accompanied by Alderman and Sheriff David Wootton. It was attended not only by the Earl of Wessex, but also ... read more >>
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Annals of Actuarial Science Vol 4 Part 2 published
Includes Guest Editorial 'Mathematics: curse or blessing' by H Schmidli and papers on 'Tax-efficient pension choices in the UK' by Paul Sweeting; 'Modelling income protection claim termination rates by cause of sickness' by S Y Ling, H R Waters and A D ... read more >>
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New CPD scheme, effective from 1 July 2010
The new scheme not only redefines the traditional Category 2 class of members but also introduces important changes to the requirements for those actuaries within Category 2. The regime, in place from July 2010, offers increased flexibility for members of ... read more >>
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Outcome of the merger vote, 25 May 2010
Press release Message to members from the President of the Faculty of Actuaries Message to members from the President of the Institute of Actuaries Sound recordings of both SGMs are available below: ... read more >>
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Conflicts of interest: discussion paper and questionnaire
The Profession seeks the views of actuaries and their employers, and other interested parties, including users of actuarial advice and regulators, about their experience of conflicts of interest to assist us in understanding the extent of the problems ... read more >>
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Subject CT7 Business economics. Updated textbook
The replacement 5th edition contains the same theory and has: An updated format More recent examples in a number of places - in particular, updating to include reference to the recent banking and credit crises The September 2010 paper has been drafted to ... read more >>
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Actuarial qualification is the ideal path for students considering a career in risk management
Actuaries are experts in risk, and the rise of risk management to the top of the financial services business agenda offers unprecedented career opportunities for the profession. Increasing regulation in actuaries’ traditional career areas of pensions and ... read more >>
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Call for 'radical overhaul' of funding of long-term care in the UK
In a workshop titled ‘Who cares?’ Reforming long-term care, University of Birmingham Health Services Management Centre co-director Jon Glasby said the current system placed an unfair burden on individuals. Professor Glasby said alternative methods of ... read more >>
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Effectiveness of 'wellness programmes' evaluated at conference
In a workshop session titled Wellness programmes and private medical insurance, Institute of Actuaries Fellow Emile Stipp spoke about the data from studies into the programmes used by private medical insurers in the UK and South Africa. The risk-adjusted ... read more >>
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Weak pound and strong manufacturing demand likely to lead UK toward winter recover, economist predicts
In a plenary session titled The Economy – Where are we now and how did we get here?, Mr Spencer, of the University of York, said the bailout had paved the way for a shorter and less dramatic breakdown than might have occurred in the financial sector. He ... read more >>
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Actuary urges new approach to financial modelling
In a workshop titled Financial Modelling Needs to Change in Light of the Credit Crunch, Institute of Actuaries Fellow Martyn Dorey, from CAMRADATA Analytical Services, said financial models should be based on an ‘economic clock’ rather than the calendar ... read more >>
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Longer working lives and adult education key to solving UK's pension’s problems, actuaries hear
In a plenary session, BESTrustees plc chairman Alan Pickering said better adult education opportunities were needed to enable older workers to remain in employment longer. He said: “We need to understand that there isn’t a solution to the longevity issue ... read more >>
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Future of risk management discussed at Global Financial Crisis Seminar
Speakers at the seminar at Staple Inn covered financial modelling, systemic risk and the lack of commonsense in risk management in the past. Delegates included researchers, regulators, actuaries and mathematicians. Faculty of Actuaries President Ronnie ... read more >>
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Actuarial Profession produces new mortality model to project increases in life expectancy
The assumptions on future rates of mortality are important in valuing the liabilities of pension schemes and life insurance companies. ... read more >>
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Full results from Faculty Special General Meeting of 29 June 2009
The Faculty Council had recommended members to vote against the resolutions. Of the 1553 members of the Faculty eligible to vote, 213 participated in the vote with 53 of them attending the SGM. The results of the voting are below, as are the full texts of ... read more >>
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Full results of the merger ballot between the Faculty of Actuaries and the Institute of Actuaries
The vote of each organisation took place at separate special general meetings on 23 July 2009: the Faculty at the Royal College of Physicians in Edinburgh and the Institute at Staple Inn Hall in London. ... read more >>
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Record number of actuaries qualify
Dr Trevor Watkins, the Actuarial Profession's Head of Learning welcomed the news as a sign that the profession was buoyant. He said: ... read more >>