News
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Council election and AGM update
Scottish ConstituencyThere are 3 vacancies to be filled and 4 candidates submitted nomination forms to stand for election - in alphabetical order the candidates are:Huw EvansMartin PotterAlan WatsonGordon WoodVoting papers will be issued by the ERS ... read more >>
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Calculator policy for the exams
With effect from the exams in September 2011 any student not using one of the approved calculators will receive a zero mark for their exam script. The invigilators will make an announcement at the start of each exam about calculators, and at this time ... read more >>
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Changes to the reading for subjects ST6 and ST9
ST6 textbook change A new version (the 8th edition) of the John Hull textbook Options, futures and other derivatives was recently published. For the 2012 exams, students may use either the 7th edition or 8th edition for their study. The Core Reading ... read more >>
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Philip Scott to become President-elect for 2011/2012
Mr Scott has extensive financial services experience and his responsibilities have covered finance, risk and actuarial functions, international operations, investment management and life and pensions businesses. He has been a Non-Executive Director ... read more >>
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Ronnie Bowie comments on the resignation of Louise Pryor from the Board for Actuarial Standards
Mr Bowie said: “The Actuarial Profession enjoys a constructive partnership with the Board for Actuarial Standards and the spirit of co-operation which exists between our two organisations is thanks, in no small part, to the efforts of Louise. On behalf of ... read more >>
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Actuarial Profession welcomes plans to reform state pension
Huw Evans, of the Profession’s pensions committee said: “The Actuarial Profession has argued that a state pension system that is fair, simple, easy to understand and transparent will make it easier for people to make informed decisions about their ... read more >>
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Actuarial Profession welcomes call for transparency in referral fees in motor insurance claims
The Profession’s working party on third party motor insurance warned, last year, that the number of motor insurance claims involving personal injury was increasing at an alarming rate and that the rise of claims management companies appeared to be a ... read more >>
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Actuaries: Career average pensions could benefit lower paid public sector workers
The figures have been announced to coincide with the publication of Lord Hutton's Independent Public Sector Pensions Commission report and should provide some comfort to lower paid public sector workers. Career Average Revalued Earnings (CARE) schemes give ... read more >>
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Whistleblowing guides published
The guides do not impose any new obligations on members or their employers, rather it is hoped that these resources will help the Profession’s members to navigate their way through the complex and difficult situations which may arise from time to time in ... read more >>
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Actuaries: European Court of Justice ruling will have wide ranging consequences
Ronnie Bowie, President of the Institute and Faculty of Actuaries said: “Insurance companies have some tough decisions ahead. They will need to provide convincing evidence to justify any future differences between men and women, between old and young and ... read more >>
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Pensions Actuarial Profession Standards go live
Version 1.0 of Actuarial Profession Standard (APS) P1: Duties and Responsibilities of Pensions Actuaries; and Version 1.0 of Actuarial Profession Standard (APS) P2: Compliance Review: Pensions. ... read more >>
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Pensions Actuarial Profession Standards go live
Following publication on 1 March 2011, the following Actuarial Profession Standards take effect on 1 April 2011: ... read more >>
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Martin Weale's speech to the Actuarial Profession
The speech, entitled Uncertain Uncertainty, discussed the nature of uncertainty around macro-economic forecasts and how these uncertainties can best be represented. Full text of the speech can be found here. ... read more >>
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Actuarial Profession Standards update for pensions actuaries
http://www.actuaries.org.uk/APS%20P1%20Duties%20and%20Responsibilities%20of%20Pensions%20Actuaries http://www.actuaries.org.uk/APS%20P2%20Compliance%20Review%20Pensions ... read more >>
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Actuarial Profession's response to Independent Public Service Pensions Commission consultation
President of the Institute and Faculty of Actuaries, Ronnie Bowie, said: “There is a range of viable possible risk sharing options which have some traction in the private sector whose experience the Commission could learn from. However, our ... read more >>
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Actuarial Profession announces three new mortality and morbidity research projects
Whilst the ageing population and increased longevity are welcome indicators of health and societal improvements, they present new challenges for business and government alike. Mortality investigations are the cornerstone of actuarial science but also ... read more >>
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New generation of actuaries must speak up about the future of pensions
John said: "Over the last 25 years, pension costs and risks have escalated out of all proportion. The movement towards defined contributions is a natural reaction to this, but this move might not be right for all employers. So, as we look for ... read more >>
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New report focuses on the impact of tax policy on employer sponsored pension provision
Public commentary and analysis of the substantial changes in pensions provision in the UK have tended to focus on the substantial increases in costs of provision over the past three decades and how these costs are recognised and met. The new PPI report, ... read more >>