We are delighted that Cathy Robertson will be joining the panel on Monday.
When university lecturers take to the barricades with posters proclaiming ‘value pensions using stochastic models not actuarial discounting rules’ it’s clear that our work is under scrutiny. Indeed Universities UK and the University and College Union are proposing a ‘Joint Expert Panel, comprised of actuarial and academic experts’ to examine the USS funding methodology. But are the two actually different methods for valuing a pension scheme? Or are they two sides of the same coin.
And how does the approach differ when the situation differs? Isn’t that what scheme-specific funding is all about?
The Work and Pensions Committee has launched an inquiry into the recently issued White Paper ‘Protecting defined benefit pension schemes’, published on 19 March 2018. One question posed by the Committee is:
What should "prudent" and "appropriate" scheme funding mean?
A panel will debate the above, current actuarial funding methodology and its suitability across the spectrum of UK pension schemes.
Contact Niki Park for more information.
020 7632 2152
Chair - Alan Watson
Panelists - Donald Duval, Hilary Salt, Andrew Cairns and Cathy Robertson
Hilary Salt is a Founder of First Actuarial LLP and combines national executive responsibilities in the business with running the Manchester office.
Hilary’s client work covers traditional actuarial consultancy including acting as a scheme actuary and advising sponsoring employers. She also works with trade unions where she assists in collective bargaining situations and advises on the pension schemes run by trade unions themselves. She has worked extensively with the Communication Workers Union devising the ground-breaking CDC proposal which ended their dispute with Royal Mail. She has also advised UCU on alternative approaches to the valuation of the Universities Superannuation Scheme (USS). Hilary also provides policy advice to a number of organisations and is the independent actuarial adviser to the NHS Pension Scheme’s Scheme Advisory Board.
She is a member of the council of the Institute and Faculty of Actuaries.
She has written a number of published articles and is a regular speaker at conferences
Donald is a partner at Aon Hewitt, with responsibility for Professional Standards, thought leadership and innovation. A regular speaker at pensions conferences and has been President of the Society of Pension Consultants, a member of Council the Institute of Actuaries, and a member of the Main Committee of the Association of Consulting Actuaries. Donald has been Australian Government Actuary, and has advised on pension reform and regulation in Hungary, Zimbabwe, Slovenia, the Czech Republic and South Korea. Main professional interest is in the management of the overall financial position of pension funds. This requires a consideration of both the assets and the liabilities – their dynamics, risks and opportunities.”
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