News
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Actuaries recognise Enterprise Risk Management Thought Leaders
The Institute and Faculty of Actuaries is to award ten actuaries with the Chartered Enterprise Risk Actuary (CERA) qualification in recognition of their exceptional roles as thought leaders in the field of enterprise risk management. ... read more >>
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Important message regarding your subscription renewal 2012/2013
If you have not received a subscription letter, please click on the link below to download a subscription letter, and complete and return the remittance advice form to the membership team at the Edinburgh address or by email: ... read more >>
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New Chair of Audit and Governance Committee
Iraj was, until 2010, a senior partner with Deloitte and spent the entirety of his 30 year career as an accountant with them. Since leaving Deloitte, he has become a trustee of the National Employment Savings trust, sitting on both its Audit and Investment ... read more >>
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Sue Elliott of The Institute and Faculty of Actuaries comments on the Government’s Social Care White Paper (and draft bill) and Progress report on funding published today
• Clarity is required on the financial commitment required by individuals and the State • This will help individuals plan for pensions and care holistically Sue Elliott, of the Institute and Faculty of ... read more >>
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Summary of Changes to the PC Scheme and related documents effective from 1 September 2012
The new PC Scheme came into effect on 25 January 2012 and by the mid-year, over 500 applications had been processed under it. The feedback received has been helpful in identifying a number of areas where further information could be provided to ... read more >>
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Data from the Institute and Faculty of Actuaries shows material worsening of bodily injury claims experience
• Staggering 18% increase in proportion of accidents involving bodily injury • £400m estimated extra cost to insurance industry • Clear correlation between injury hotspots and claim management company ... read more >>
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HM Treasury's response to European Court of Justice ruling that insurance premiums and benefits should be gender neutral
The Treasury has published its response to last year's European Court of Justice ruling of 1 March 2011 that insurance benefits and premiums should be gender neutral. The response can be found here. The Institute and Faculty of Actuaries contributed ... read more >>
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Subject CA3 Communications – online retaker exam
The online exam is delivered through an application called CA3Online, which allows all parts of the exam to be taken within one online environment. More details and application forms ... read more >>
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Philip Scott becomes president of the Institute and Faculty of Actuaries
Philip is a non-executive director of the Royal Bank of Scotland and of Diageo plc. Over his 37 years in the financial services industry Phillip was Chief Executive of Aviva International and Norwich Union Life, and was Chief Financial Officer of Aviva ... read more >>
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Conflicts of interest: package published
The full package of material, which includes Actuarial Profession Standards (APSs) for pensions (APS P1) and life actuaries (APS L1 – which came into force on 1 October 2011), a guide for actuaries on conflicts of interest and a note for pension scheme ... read more >>
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Institute and Faculty of Actuaries commends Industry Working Group's Code of Good Practice to its members
The Institute and Faculty of Actuaries is supporting the new Code of Good Practice relating to Incentive Exercises, including Enhanced Transfer Values (ETVs) which was published today by an Industry Working Group, which included the Institute and Faculty ... read more >>
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Past President of Institute and Faculty of Actuaries, Ronnie Bowie, lays out roadmap for new sustainable pension system at Brighton Pensions Conference
Speaking in Brighton today at the Institute and Faculty of Actuaries Pensions Conference Ronnie Bowie, past president of the Institute and Faculty, addressed an audience which included Shadow Pensions Minister Greg McClymont and Mark Hyde Harrison from the ... read more >>
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Exam counselling during summer 2012
Once the results of the April session based exams are released some of you will have been unsuccessful and will want to have exam counselling to help you identify ways to be successful in a future sitting. The majority of the exam counselling appointments ... read more >>
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The Actuarial Profession Comments on PPI Extending Working Lives Research: "We now have a clear view of the problems that await the over 50's facing retirement, so it is time for all relevant bodies to sit around the table and identify solutions".
Jane Curtis, President of the Institute and Faculty of Actuaries comments: “We welcome this research which has provided new and updated data that helps to identify the problems that await the over 50s as they reach state pension age, and that policy ... read more >>
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Exemptions for CA subjects passed with the Institute of Actuaries of India
With immediate effect there is no longer a requirement for members of the Institute of Actuaries of India to have passed all three CA subjects (CA1, CA2 and CA3) directly with the IAI before they can apply for an exemption from these subjects with the ... read more >>
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CMI Working Paper 62 published
Download Working Paper 62 here. ... read more >>
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Employer Covenants research project - Call for research
The Institute and Faculty of Actuaries is commissioning a research project on the topic of how employer covenants are best taken into account when assessing the capital supporting Institutions of Occupational Retirement Provision (IORPs). ... read more >>
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Long-term care market still baffling for consumers
Leading experts on the long term care market examined the way forward for individuals with future care needs. With the rumoured publication of a progress report on the funding of long term care now expected alongside the Government’s White Paper on Social ... read more >>
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Huw Evans from the Institute and Faculty of Actuaries comments on today's statement from the Pensions Regulator regarding funding in the current environment for defined benefit pension schemes
"The statement makes it clear that the scheme funding regime has the flexibility to remain fit for purpose even in extreme conditions, and that trustees and employers should look for evidence based solutions to address the risks that they face. ... read more >>
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Singapore university receives accreditation from Institute and Faculty of Actuaries
The Institute and Faculty of Actuaries signed an agreement on Friday 20 April 2012 that will make it simpler for NTU actuarial science graduates to gain exemptions from the first eight of 15 professional examinations that the institute requires for ... read more >>