To demonstrate our commitment to our members, and the value we place on membership, we have developed our member pledge. This seven-point pledge encapsulates the responsibilities we have as a membership organisation and the standards against which we will be judged.
- The IFoA is an inclusive organisation that ensures that the membership experience is valuable, rewarding and accessible to every member. The organisation supports and encourages a diverse and inclusive actuarial profession open to all on merit.
- The IFoA seeks to ensure that every member has equitable access to the benefits that come with membership. It responds to members’ diverse needs by delivering services in a modern, efficient manner that is sustainable for everyone over time.
- The IFoA works continually to improve the membership experience through consultation and partnership. IFoA employees treat all members with respect in each interaction and always strive to be fair, transparent and reasonable. In return, members are expected to treat IFoA employees (and others) with the same respect.
- Public trust is the foundation of the actuarial profession. The IFoA will regulate in a way that is effective but proportionate and efficient, reflecting developments in actuarial practice. It will uphold and, where necessary, enforce the Actuaries’ Code in order to protect both the public interest and the collective reputation of IFoA members.
- Through the IFoA’s evolving curriculum, education, lifelong learning and thought leadership on issues of public interest, it ensures that the profession remains an attractive career for outstanding students and professionals. The IFoA works to keep members at the cutting-edge of their work’s demands throughout their membership.
- Volunteers are at the IFoA’s heart. The vibrant volunteer community works in partnership with the IFoA’s employees and wider membership to ensure the sustainability of the profession, while in turn the organisation supports a wide range of unique volunteering opportunities.
- All members must abide by the Actuaries’ Code as the backbone of the profession’s ethics, to work within IFoA policies and frameworks and act as ambassadors for the profession in their interactions with peers, employers, stakeholders and the IFoA.
Measuring the IFoA’s performance
Each year the IFoA measures how satisfied its members are through an independently administered survey. This provides a measure of member satisfaction and engagement, which is then published.
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The Power of Pensions: how can pensions change the future?
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Middle East, North Africa and Pakistan (MENAP) Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.
COVID-19 has seen a marked increase in mental health issues. We all have mental health and poor mental health has serious consequences for individuals and our workplaces, with it costing UK businesses £33-42 billion annually.
As part of the ARC Webinar Series 2021, this webinar will review the work of the UEA/Aviva research team over the last four years on a major research programme funded by the IFoA’s Actuarial Research Centre.
Climate change poses a significant threat across many regions and sectors, and businesses. Insurers and asset managers, must play a role in ensuring transparency around climate related risks and opportunities.
Whilst insurers have been performing stress and scenario testing for many years, in the last 12 months the PRA has increased its focus on the ability to identify, measure and increase financial and operational resilience.
This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.
This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)
What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code?
- How does effective stewardship create long term value for beneficiaries?
- What roles do asset owners and asset managers play in active stewardship?
- A practical approach to stewardship reporting
Income drawdown products offer an investment strategy to generate an income in retirement. However, for those needing to decumulate their capital to provide a sufficient income in retirement, sequencing risk is high. This is the risk that poor returns are experienced when capital is highest (in the first part of the decumulation phase) and good returns when capital is lowest (in the last part). It is very difficult to recover from this risk, if it is realised. This means that income drawdown products are not very resilient for those needing to decumulate their capital.