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Research project on long term care

This call for research closed on 8 July 2012 and the content on this page is for information only

Background

With the Dilnot Commission on the Funding of Care and Support due to report in July 2011, the Actuarial Profession wishes to undertake research which will enable it to take a full part in the detailed work that will be needed to deliver whatever solution is proposed and finally implemented.  The Profession’s response to Dilnot is published on our website. 

Many of the financial drivers for the successful delivery of care in the future are related to the core actuarial skills in managing long-term risks and the Actuarial Profession wishes to be in position to play its part in the public interest by working collaboratively with other bodies and disciplines to develop those long-term solutions. To that end the Profession has identified two initial work streams it wishes to pursue:

Phase One: an in-depth review of the international literature in the area of long-term care and the various means of funding it and then producing an analysis of any gaps in topics relating to long-term care in the published or publicly available material. This will be presented at an event to discuss the findings, gain wider input and to confirm, or revise, the identified gaps.

Phase Two: once phase one is completed the Profession will review the data available with the possibility of developing new data capturing analyses. This may lead to a separate call for research later in 2011. 

This call for research relates to Phase One of the project and a more detailed specification is given below. 

The output required from Phase One will be an initial report which should be available by 30 September 2011 ready for a forum of invited leaders from inside and outside the Profession during October 2011. The purpose of this forum would be to review and discuss the initial research report, consult on what aspects might warrant further consideration, and identify any further significant gaps in the existing literature. Following the forum, the researchers would be expected to produce a final report incorporating the feedback from the forum in order to allow the Profession to input to the Government’s ongoing process.  

Phase One project

Phase One of the Actuarial Profession’s long-term care project is to produce an in-depth review of the international literature in the area of long-term care and the various means of funding it. The research should identify any significant gaps in the research relating to long-term care in the published or publicly available material. The research and subsequent report should cover at least the following areas:

Countries to be covered:

  • Canada
  • France
  • Germany
  • Ireland
  • Japan
  • Netherlands
  • Norway
  • Singapore
  • UK
  • US

Scope of literature review for each country:

  • demographics – now and projected 
  • state provision (including how it is funded)
  • private financial services solutions, e.g. •products
  • sales
  • experience
  • distribution, e.g. individual, via employer, direct, etc
  • regulatory issues, e.g. distribution requirements, capital requirements
  • tax issues/concessions
  • care provision – supply versus demand
  • home/domiciliary  care versus nursing/residential care
  • care providers
  • regulatory issues, e.g.  regulation of care providers
  • tax issues
  • wealth of society (including source, e.g. house, pension)
  • key statistics, e.g. – average cost of care, average length of stay, probability of needing care

Potential sources of data:

  • actuarial organisation websites
  • government websites
  • care provider websites
  • conference presentations/papers
  • charity websites
  • university websites
  • press, media

The Actuarial Profession would expect you to undertake this research assignment under a legally binding agreement and we will be making available drafts of standard contracts shortly. Please comment on whether you are prepared to take our draft as an initial starting point as shown on the website. Please highlight any issues you can envisage and any changes you would want to propose.

The Actuarial Profession may wish to build upon and develop the research commissioned in this proposal and so would wish to retain the intellectual property and copyright involved. Our preferred wording is given on the standard contracts. We appreciate that each piece of work brings individual circumstances so please confirm that you accept the standard wording or highlight any changes you would want to propose.

Contact Details

If you have any questions or wish to discuss any aspect of our funding for member-led research please contact the Research and Knowledge Team:

arc@actuaries.org.uk

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    Club@28, Crowne Plaza Hong Kong Causeway Bay, Causeway Bay, No.8 Leighton Road (Chinese address :香港铜锣湾皇冠假日酒店28层Club@28, 香港铜锣湾礼顿道8号 )
    17 January 2020

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    17 January 2020

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    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

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    17 January 2020

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    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

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  • New Year Member Event and Volunteer Reception in Beijing

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    17 January 2020

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    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

    Save the date and join us!

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    20 January 2020

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    30 January 2020

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    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

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    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

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    Hymans Robertson 1, Exchange Place, Semple St, Edinburgh
    30 January 2020

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    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

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  • Spring Lecture 2020: Live Streaming

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  • IFoA Asia Conference 2020, Kuala Lumpur

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    Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:

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    We are also delighted to announce that the Honourable Mr. Lim Guan Eng, Minister of Finance, Malaysia, will be the guest of honour at this year's conference.

    Should you be interested in presenting and sharing your expertise with international industry players, opinion formers, peers, and academics, please submit your proposal by 20 January.

    Early bird registration is now open until 1 March.  10% group discounts are offered to a minimum of six IFoA members booking in a single transaction.  Limited spaces are available, so please sign-up early to avoid disappointment.