- share risks between customers
- determine the trade-off between the performance and stability of pension income
- study how to incorporate and manage illiquid assets that can be used to hedge inflation
- establish a framework to analyse the trade-off between the performance and stability of pension income in the proposed products
- determine dynamic econometric models that are suitable for our long-term products
- and determine how the dynamic econometric models can be used to optimally time to buy and sell assets.
This multidisciplinary team was led by Professor Jens Perch Nielson (Cass Business School) and Dr Catherine Donnelly (Heriot-Watt University). The funding supported two PhD students in actuarial science.
Over 40 outputs were produced during Phase 1 of this programme, here are five key papers:
|Quantifying the trade-off between income stability and the number of members in a pooled annuity fund||T. Bernhardt and C. Donnelly, ASTIN Bulletin (2021), 51(1), pp101-130.|
|Modern tontine with bequest: Innovation in pooled annuity funds||
T. Bernhardt and C. Donnelly, Insurance: Mathematics and Economics (2019), 86, pp168-188.
|Implementing individual savings decisions for retirement with bounds on wealth||
C. Donnelly, M. Guillén, J.P. Nielsen and A.M. Peréz-Marín. ASTIN Bulletin (2018), 48(1), pp111-137.
|Pension Decumulation Strategies: A State-of-the-Art Report||
T. Bernhardt and C. Donnelly (2019)
|Product options for enhanced retirement income||C. Donnelly and J. Young. British Actuarial Journal (2017), 22(3), pp636-656|
If you want more information about our research programmes please contact the IFoA Actuarial Research Centre:
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Cancer incidence and mortality vary by region and socioeconomic status. Modelling the structure development and trends of cancer risk is important for insurance purposes and can impact pricing and reserving in related health insurance fields such as critical illness insurance and care provision.
A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.
This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.
How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.
This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.
The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.
Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.