IFoA appointed to Pensions Dashboards Steering Group

The Institute and Faculty of Actuaries (IFoA) is delighted to announce that Andrew Lowe has been appointed to the Pensions Dashboards Steering Group. The group, which will support the Money and Pensions Service (MAPS) Industry Delivery Group, is charged with providing the strategic direction for dashboards as they are implemented and delivered.

Andrew Lowe, IFoA, said:

“I’m greatly looking forward to taking on this important role, and to representing the actuarial profession as dashboards are developed. I believe that this is a once in a generation opportunity to highlight the value of pensions to millions of savers. The transparency that dashboards can provide will hopefully deliver improved trust and understanding for individuals.  This should ultimately lead to consumers being able to take more responsibility for their own financial future.

“Dashboards will need to translate different types of benefit into meaningful and comparable information. The actuarial profession is uniquely placed to consider how to translate Defined Contribution savings into a pension income alongside State and other Defined Benefits. It will also be crucial to ensure that any assumptions that will sit behind the dashboard are consistent with those underpinning other pensions communications.

“I look forward to working with my colleagues within the profession, and those on the Steering Group, to help make dashboards a reality. With millions of savers having to take more responsibility for their own retirement, dashboards have the potential to transform the pensions landscape and play a key role in improving the retirement prospects of millions of savers.”

Find out more about the actuarial perspective on Pensions Dashboards by watching our June sessional: ‘Why the Pensions Dashboard is more than a data collection exercise’.

~ENDS~

Contact

Sonia Sequeira, Media Relations Manager, IFoA
Tel: 07525 592 198
Email: sonia.sequeira@actuaries.org.uk

Notes to Editor

Andrew Lowe represents the Institute and Faculty of Actuaries (IFoA), the UK's only chartered professional body dedicated to educating, developing and regulating actuaries.

The IFoA has over 30,000 members and has long advocated pension dashboards.

Andrew brings nearly 20 years’ experience consulting on actuarial, administration and change matters in the pensions arena. As Director of Change and Data Solutions for Equiniti/MyCSP, he engages on solution design, delivery and commercial issues with senior stakeholders across the public and private sector.

About the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.

Research undertaken by the IFoA is not commercial.  As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest. 

Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.

Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s of London.

Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.

The IFoA is available to provide independent expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.