Consultation responses

The Institute and Faculty of Actuaries responds to consultations on a wide range of issues to support its members and to fulfil its public interest role.

Its focus is on responding to those consultations where actuarial expertise can inform the debate, especially when the proposals will also directly impact on actuaries’ working lives and/or there are strong public interest issues involved. As part of its commitment both to transparency and publicly promoting the actuarial viewpoint on key issues, the Institute and Faculty of Actuaries places its responses to public consultations in the public domain by publishing them here on its website.

See also: 2012 | 2011 | 2010 | 2009 | 2008

Consultation responses 2013

Date response submitted	Organisation	Title	Lead staff member
Response 26.07.2013	Money Advice Service	UK Financial Capability Strategy	Helena Dumycz
Response 25.07.2013	International Accounting Standards Board	Defined Benefit Plans: Employee Contributions Proposed amendments to IAS 19	Philip Doggart
Response 19.07.2013	European Commission	Consumer protection in third-pillar retirement products	Philip Doggart
Response 10.06.2013	General Register Office for Scotland	Beyond 2011: Consultation on user requirements	Philip Doggart
Response 17.05.2013	Department of Health	Health Care and Associated Professions (Indemnity Arrangements) Order 2013	Philip Doggart
Response 07.05.2013	Ministry of Justice	Damages Act 1996: the discount rate - review of the legal framework	Philip Doggart
Response 30.04.2013	Financial Conduct Authority	Discussion Paper DP 13/1 Transparency	Philip Doggart
Response 30.04.2013	The Basel Committee on Banking Supervision, Joint Forum	Mortgage insurance: market structure, underwriting cycle and policy	Philip Doggart
Response 25.04.2013	Better Regulation Delivery Office	Non-economics regulators: Duty to have regard to growth	Philip Doggart
Response 15.04.2013	Transport Select Committee	Call for Evidence evidence on reducing the number and costs of whiplash claims	Philip Doggart
Response 15.04.2013	Department for Work and Pensions	Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013	Helena Dumycz
Response 05.04.2013	Department for Work and Pensions	The Transfer of Employment (Pension Protection) (Amendment) Regulations 2013	Philip Doggart
Response 22.03.2013	Department for Work and Pensions	Draft Pensions Bill	Philip Doggart
Response 19.03.2013	Financial Services Authority	CP12/38 Mutuality and with-profits funds: A way forward	Helena Dumycz
Response 14.03.2013	The Basel Committee on Banking Supervision and the International Organization of Securities Commissions	Margin requirements for non-centrally cleared derivatives - Second consultative document	Philip Doggart
Response 07.03.2013	Department for Work and Pensions	Pensions and Growth: Whether to smooth assets and liabilities in scheme funding valuations	Philip Doggart
Response 01.03.2013	Groupe Consultatif Actuariel Européen	Exposure Draft - Actuarial Standard of Practice 2 (GCASP2) - Actuarial Function Report	Helena Dumycz
Response 21.02.2013	Department for Work and Pensions	Pensions and Growth: Whether to introduce a new statutory objective for the Pensions Regulator	Philip Doggart
Response 11.02.2013	Money Advice Service	Draft Business Plan 2013/14	Helena Dumycz
Response 01.02.2013	Financial Services Authority, FSA	CP12/29 Personal pensions : feedback to CP12/5 and final rules on disclosures by SIPP operators, and consultation on inflation-adjusted illustrations	Helena Dumycz

Consultation responses 2012

Date response submitted	Organisation	Title	Lead staff member
Response 21.12.2012	European Commission	Consultation on a possible framework for the recovery and resolution of nonbank financial institutions	Helena Dumycz
Response 12.12.2012	Financial Reporting Council	Exposure Draft AS TM1: Statutory Money Purchase Illustrations (SMPI) v3.0	Helena Dumycz
Response 7.12.2012	Financial Services Authority	CP12/26 Regulatory reform: the PRA and FCA regimes for Approved Persons	Helena Dumycz
Response 5.12.2012	The Pensions Regulator	Maintaining contributions	Philip Doggart
Response 5.12.2012	Office or First Minister and Deputy First Minister of Northern Ireland	Use of gender as a risk factor for insurance	Philip Doggart; Helena Dumycz
Response 30.11.2012	Financial Reporting Council	Amendment to Financial Reporting Exposure Draft 48	Philip Doggart
Response 30.11.2012	Office for National Statistics	Options for improving the Retail Prices Index	Philip Doggart
Response 30.11.2012	SME Implementation Group	IASB review of the IFRS for SMEs	Philip Doggart
Response 14.11.2012	Department for Work and Pensions	The Occupational Pension Schemes (Miscellaneous Amendments No 2) Regulations 2013	Paul Shelley
Response 2.11.2012	Pension Protection Fund	The 2013/2014 Pension Protection Levy Consultation Document	Paul Shelley
Response 15.10.2012	Financial Services Authority	CP12/13 transposition of Solvency II - Part 2	Paul Shelley
Response 28.09.2012	Code Committee of the Takeover Panel	Pension scheme trustee issues	Paul Shelley
Response 28.09.2012	Department for Busines, Innovation and Skills	Draft regulations determining what companies must disclose in pay reports	Paul Shelley
Response 28.09.2012	Working Group on Margining Requirements	Margin requirements for non-centrally cleared derivatives	Paul Shelley; Sarah Mathieson
Response 24.09.2012	HM Treasury	Financial sector resolution: Broadening the regime	Paul Shelley
Response 04.09.2012	Financial Reporting Council	Pension Scheme Incentive Exercises	Paul Shelley
Response 30.08.2012	Financial Reporting Council	CP12/10 Chapter 5: Statutory Money Purchase Illustrations	Paul Shelley
Response 30.08.2012	Financial Services Authority	CP12/10 Chapters 3 and 4: Product Projections and Transfer Value Analysis	Paul Shelley
Response 17.08.2012	UK Debt Management Office	Super-long and Perpetual Gilts	Sarah Mathieson
Response 27.07.2012	Pension Protection Fund	Pension Protection Fund consultation on funding determinations and amendments to section 151 in the Pension Protection Fund (Miscellaneous Amendments) Regulations 2012	Paul Shelley
Response 11.07.2012	AADB	Sanctions guidance to tribunals	Christine McConnell
Response 29.06.2012	Financial Services Authority	CP 12/10 mortality assumptions	Paul Shelley
Response 13.06.2012	Department of Energy and Climate Change	Consultation on the Amendment of the Nuclear Waste and Decommissioning (Finance and Fees) Regulations 2011	Paul Reynolds
Response 16.05.2012	International Actuarial Association	Statement of intent for a proposed international standard of actuarial practice on Enterprise Risk Management	Peter Stirling
Response 27.03.2012	Financial Services Authority	Pension transfer value analysis assumptions	Paul Shelley
Response 23.03.2012	Department for Work and Pensions	Meeting future workplace pension challenge: improving transfers and dealing with small pension pots	Sarah Mathieson
Response 01.03.2012	HM Treasury	UK response to the 1 March European Court of Justice ruling on gender-neutral insurance benefits and premiums	Sarah Mathieson
Response 08.02.2012	Association of British Insurers	Consumers in the retirement income market	Sarah Mathieson
Response 26.01.2012	Department for Work and Pensions	Workplace Pension Reform - automatic enrolment earnings thresholds: review and revision 2012-2013	Kirstin Lambert
Response 10.01.2012	Department for Business Innovation and Skills and Financial Reporting Council	Proposals to reform the Financial Reporting Council. A joint BIS and FRC consultation	Ben Kemp
Response 04.01.2012	EIOPA	Comments on EIOPA CP-11/006. Response to call for advice on the review of Directive 2003/41/EC: Second consultation.	Paul Shelley

Consultation responses 2011

Date response submitted	Organisation	Title	Lead staff member
Response 02.12.2011	Department of Health	Caring for our future: shared ambitions for care and support	Paula Woodward
Response 28.11.2011	IFRS	IASB Agenda Consultation	Kirstin Lambert
Response 02.11.2011	Pension Protection Fund	The 2012/13 Pension Protection Levy Consultation Document	Kirstin Lambert
Response 26.10.2011	Commons Select Committee	Social Care Inquiry	Paula Woodward
Response 12.10.2011	Office of Fair Trading	Private motor insurance call for evidence	Paul Atkinson
Response 22.09.2011	UK Debt Management Office	CPI-linked Gilts	Kirstin Lambert
Response 08.09.2011	HM Treasury	A new approach to financial regulation: the blueprint for reform	Paul Atkinson
Response 30.8.2011	European Financial Reporting Advisory Group	Considering the effects of accounting standards	Kirstin Lambert
Response 08.8.2011	Department for Work and Pensions	Employer debt (s75 of the Pensions Act 1995)	Kirstin Lambert
Response 12.7.2011	Board for Actuarial Standards	TM1: Mortality improvement assumption. June 2011. (Further BAS consultation to original Exposure Draft: TM1 Statutory money purchase illustrations - shown at 10.6.2011)	Kirstin Lambert
Response 28.6.2011	HM Revenue & Customs	Life insurance companies: a new corporate tax regime. April 2011	Pauline Simpson
Response 27.6.2011	Pension Protection Fund	Guidance for bespoke investment risk calculation. May 2011	Kirstin Lambert
Response 24.6.2011	Department for Work and Pensions	A state pension for the 21st century. April 2011	Paul Atkinson
Response 10.6.2011	Board for Actuarial Standards	Exposure Draft: TM1 Statutory money purchase illustrations. March 2011	Kirstin Lambert
Response 27.5.2011	Financial Services Authority	CP11/05 Protecting with-profits policyholders	Pauline Simpson
Response 05.05.2011	Financial Services Authority	CP11/07 Quarterly Consultation No 28. Chapter 2: Definition of Holloway sickness policies	Pauline Simpson
Response 28.04.2011	Workplace Retirement Income Commission	Call for evidence	Paul Atkinson
Response 27.04.2011	Accounting Standards Board	Financial Reporting Exposure Drafts: 43: Application of financial reporting standards; and 44: Financial reporting standard for medium-sized entities	Margaret Watchorn
Response 18.04.2011	Department for Work and Pensions	Regulatory differences between occupational and workplace personal pensions - a call for evidence	Margaret Watchorn
Response 14.04.2011	HM Treasury	A new approach to financial regulation: building a stronger system	Paul Atkinson
Response 01.04.2011	HM Treasury	Simple financial products	Paul Atkinson
Response 21.03.2011	Pension Protection Fund	Calculation of PPF compensation and FAS assistance in the context of equalisation for schemes contracted-oout on a GMP basis	Margaret Watchorn
Response 17.03.2011	Pension Protection Fund	Assumptions to be used for valuations under sections 143 and 179 of the Pensions Act 2004	Margaret Watchorn
Response 04.03.2011	Financial Services Authority	Response to FSA Quarterly Consultation (No 27) CP11/01	Pauline Simpson
Response 03.03.2011	HM Treasury	Consultation on the discount rate used to set up unfunded public service pension contributions	Paul Atkinson
Response 21.02.2011	Financial Reporting Council	Draft plan and budget and levy proposals 2011/12	Derek Cribb
Response 18.02.2011	HM Revenue & Customs	Overview of draft legislation for Finance Bill 2011	Margaret Watchorn
Response 18.02.2011	Ministry of Justice	Claims Management Regulation: Proposal to amend the Conduct of Authorised Persons Rules 2007 to prohibit the offering of cash payments or similar as an inducement to make a claim	Peter Stirling
Response 02.02.2011	Commission on Funding of Care and Support	Commission on Funding of Care and Support	Pauline Simpson
Response 10.01.2011	Department for Work and Pensions	The Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations 2011	Margaret Watchorn

Consultation responses 2010

Date response submitted	Organisation	Title	Lead staff member
Response 22.12.2010	IFRS	Leases. Exposure Draft ED/2010/9	Margaret Watchorn
Response 20.12.2010	Pension Protection Fund	The pension protection levy. A new framework	Margaret Watchorn
Response 17.12.2010	Independent Public Service Pensions Commission	Call for evidence for final report	Michael Scanlan
Response 25.11.2010	IFRS	Insurance contracts. Exposure Draft ED/2010/8	Pauline Simpson
Response 10.11.2010	ASB Urgent Issues Taskforce	Draft abstract "Accounting implications of the replacement of the Retail Prices Index with the Consumer Prices Index for Retirement Benefits"	Margaret Marchetti
Response 08.11.2010	Pension Protection Fund	2011/2012 Pension Protection Levy Consultation	Margaret Marchetti
Response 01.11.2010	Commons Select Committee on Transport	Transport Committee Inquiry - Cost of motor insurance	Peter Stirling
Response 22.10.2010	Department for Business, Innovation and Skills; DWP	Phasing out the default retirement age	Maria Singleton
Response 21.10.2010	AADB	The referral of formal complaints to disciplinary tribunals	Christine McConnell
Response 15.10.2010	Board for Actuarial Standards	Funeral Plans TAS	Pauline Simpson
Response 06.10.2010	HM Treasury	A new approach to financial regulation: judgement, focus and stability	Laura Clarke
Response 15.09.2010	HM Treasury	Removing the requirement to annuitise by age 75	Audrey Cosens
Response 06.09.2010	International Accounting Standards Board	IASB Exposure draft: Defined Benefit Plans. Proposed amendments to IAS 19	Martin Hewitt
Response 01.08.2010	Board for Actuarial Standards	Exposure Draft: Transformations	Martin Hewitt
Response 30.07.2010	Independent Public Service Pension Commission	Discount rates	Martin Hewitt
Response 25.06.2010	Society of Actuaries in Ireland	Code of professional conduct	Richard Maconachie
Response 04.06.2010	Board for Actuarial Standards	TM1: Statutory illustrations of money purchase benefits	Martin Hewitt
Response 02.06.2010	Financial Services Authority	Quarterly consultation no.24. CP10/10	Pauline Simpson
Response 02.06.2010	HM Revenue & Customs	Consultation on Solvency II and taxation of insurance companies	Pauline Simpson
Response 21.05.2010	Board for Actuarial Standards	Exposure draft: pensions	Martin Hewitt
Response 28.04.2010	Financial Services Authority	Consultation paper 10/3: Effective corporate governance (significant influence controlled functions and the Walker Review)	Mark Symons
Response 11.03.2010	Financial Reporting Council	Draft plan and levy proposal 2010/11	Caroline Instance
Response 09.03.2010	Board for Actuarial Standards	Modelling (TAS M)	Richard Maconachie
Response 09.03.2010	Board for Actuarial Standards	Transformations	Martin Hewitt
Response 02.02.2010	Society of Actuaries in Ireland	Conflicts of interest - pensions actuaries	Richard Maconachie
Response 15.01.2010	Department for Work and Pensions	The Pensions Protection Fund (Miscellaneous Amendments) Regulations 2010 - consultation	Martin Hewitt
Response 07.01.2010	Board for Actuarial Standards	Actuarial information used for accounts and other financial documents	Irene Paterson

Consultation responses 2009

Date response submitted	Organisation	Title	Lead staff member
Response 26.11.2009	Board for Actuarial Standards	Consultation on Technical Actuarial Standard for Insurance (TAS I)	Pauline Simpson
Response 20.11.2009	Department for Work and Pensions	Workplace pensions reform: completing the picture	Martin Hewitt
Response 11.11.2009	Pension Protection Fund	The 2010/11 Pension Protection Levy Consultation	Martin Hewitt
Response 05.11.2009	HM Government	Shaping the future of care together	Pauline Simpson
Response 23.10.2009	Association of British Insurers	Consultation on the Statement of Best Practice for Critical Illness	Pauline Simpson
Response 09.10.2009	Financial Services Authority	Distribution of retail products. Delivering the RDR	Richard Maconachie
Response 07.10.2009	Board for Actuarial Standards	Consultation on Technical Actuarial Standard for Pensions (TAS P)	Martin Hewitt
Response 05.10.2009	Walker Review	A review of corporate governance in UK banks and other financial industry entities	Caroline Instance
Response 30.09.2009	International Accounting Standards Board	Financial instruments: classification and measurement	Martin Hewitt
Response 30.09.2009	International Accounting Standards Board	Proposed amendments to IAS19 - Discount rate for employee benefits	Martin Hewitt
Response 29.09.2009	Equalities Office	Equality Bill: Making it work. Ending age discrimination in services and public functions	Peter Stirling
Response 28.09.2009	International Accounting Standards Board	Exposure Draft: Fair value measurement Discussion Paper: Credit risk in liability measurement	Martin Hewitt
Response 28.09.2009	HM Treasury	Reforming financial markets	Pat Rustem
Response 04.09.2009	Board for Actuarial Standards	Technical Actuarial Standard - Modelling (TAS M)	Irene Paterson
Response 04.09.2009	Board for Actuarial Standards	Technical Actuarial Standard - Data (TAS D)	Irene Paterson
Response 10.08.2009	Financial Services Authority	FSA Consultation Paper CP 09/20 - Quarterly consultation (No. 21)	Pauline Simpson
Response 07.08.2009	Personal Accounts Delivery Authority	Building Personal Accounts: Designing an investment approach	Pat Rustem
Response 27.07.2009	International Accounting Standards Board	Prepayments of a Minimum Funding Requirement - Proposed amendments to IFRIC 14 (ED/2009/4)	Martin Hewitt
Response 17.07.2009	International Accounting Standards Board	IASB Discussion Paper DP/2009/1: Leases. Preliminary views	Martin Hewitt
Response 17.06.2009	Financial Services Authority	FSA Discussion Paper DP09/2: A Regulatory Response to the Global Banking Crisis	Pat Rustem
Response 22.05.2009	Financial Services Authority	FSA Consultation Paper CP09/9: With profits funds - compensation and redress. Further consultation, feedback on CP08/11 and draft Handbook text	Pauline Simpson
Response 21.05.2009	Board for Actuarial Standards	Technical Actuarial Standard - Reporting Actuarial Information (TAS R)	Irene Paterson
Response 13.05.2009	Department for Work and Pensions	Draft guidance on method and assumptions to use when undertaking a valuation for relevant FAS qualifying schemes	Martin Hewitt
Response 20.04.2009	International Accounting Standards Board	Preliminary views on financial statement presentation	Martin Hewitt
Response 03.04.2009	Financial Services Authority	Independent review of corporate governance of UK banking industry (the 'Walker Review')	Mark Symons
Response 30.03.2009	EU Commission	Solidarity in health: EU action to reduce health inequalities	Pauline Simpson
Response 23.03.2009	Financial Services Authority	FSA CP08/24: Stress and scenario testing	Pauline Simpson
Response 20.03.2009	The Panel on Fair Access to the Professions	The Panel on Fair Access to the Professions	Caroline Instance
Response 06.03.2009	Board for Actuarial Standards	Consultation paper: Modelling	Richard Maconachie
Response 01.03.2009	Financial Services Authority	CP08/22: Strengthening liquidity standards	Pat Rustem
Response 13.02.2009	Pension Protection Fund	Consultation on the future development of the Pension Protection Levy	Martin Hewitt
Response 26.01.2009	Board for Actuarial Standards	Consultation Paper on Generic Data Standard	Richard Maconachie
Response 21.01.2009	Financial Services Authority	DP 08/04: Insurance risk management and the path to Solvency II	Peter Stirling

Consultation responses 2008

Date response submitted	Organisation	Title	Lead staff member
Response 22.12.2008	Department for Work and Pensions	Employer debt technical amendments	Martin Hewitt
Response 22.12.2008	Board for Actuarial Standards	Amending TM1 for revised contracting-out provisions	Martin Hewitt
Response 28.11.2008	European Commission	The harmonisation of Solvency Rules applicable to Institutions for Occupational Retirement Provision (IORPs) covered by Article 17 of the IORP Directive and IORPs operating on a cross-border basis	Martin Hewitt
Response 07.11.2008	HM Government	The case for change - Why England needs a new care and support system	Pauline Simpson
Response 28.10.2008	Department for Work and Pensions	The Occupational Pension Schemes (contracting-out) (amendment) Regulations 2009	Martin Hewitt
Response 01.10.2008	Financial Reporting Council	Promoting actuarial quality	Richard Maconachie
Response 30.09.2008	Professional Oversight Board	Monitoring and scrutiny of actuarial work	Richard Maconachie
Response 30.09.2008	Ministry of Justice	CP 14/08 - Pleural plaques	Peter Stirling
Response 26.09.2008	International Accounting Standards Board	Preliminary views on amendments to IAS 19 Employee Benefits	Martin Hewitt
Response 19.09.2008	The Pension Regulator	Guidance on calculation of cash equivalent transfer values	Martin Hewitt
Response 03.09.2008	Financial Services Authority	CP 08/11 With-profits funds - compensation and redress	Pauline Simpson
Response 02.09.2008	Financial Reporting Council	Proposals for future arrangements for funding the FRC's activities in relation to accounting, auditing and corporate governance	Caroline Instance
Response 18.08.2008	Government Equalities Office	The Equality Bill - Framework for a fairer future	Peter Stirling
Response 01.08.2008	Board for Actuarial Standards	Technical Actuarial Standard - Reporting Actuarial Information (TAS R)	Richard Maconachie
Response 01.08.2008	Board for Actuarial Standards	Structure of new BAS standards (and implications for adopted GNs)	Richard Maconachie
Response 11.07.2008	Accounting Standards Board	The Financial Reporting of Pensions	Martin Hewitt
Response 27.06.2008	Board for Actuarial Standards	Actuarial mortality assumptions. Discussion paper	Martin Hewitt
Response 23.05.2008	Board for Actuarial Standards	Conceptual framework for technical actuarial standards and scope and authority of technical standards	Caroline Instance
Response 12.05.2008	The Pensions Regulator	Good practice when choosing assumptions for defined benefit pension schemes with a special focus on mortality	Martin Hewitt
Response 22.04.2008	Personal Accounts Delivery Authority	Building personal accounts: choosing a charging structure	Margaret Marchetti
Response 14.04.2008	Treasury Select Committee	Treasury Select Committee inquiry into inherited estate	Pauline Simpson
Response 31.01.2008	Board for Actuarial Standards	Towards a conceptual framework	Caroline Instance

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