In the run up to the referendum, the IFoA developed and undertook many activities to inform the public. Our published research on the impacts of migration on the state pension system showed that there could be some big choices for the Government as to whether to increase National Insurance contributions, the State Pension Age, or alternatively, reduce state pensions.
Furthermore, we organised national debates and discussed with our Regional Actuarial Societies to further develop knowledge and to find balanced information.
Institute and Faculty of Actuaries' (IFoA) Commissioned Research
The IFoA believes that it can help inform the debate, on issues that are relevant and important to the public interest, using the specific actuarial skills its members have. We have established an EU Referendum Working Party and will soon roll out our public engagement activities to inform the debate in the lead up to the referendum. In particular, the IFoA wants to look beyond the short term ‘in’ and ‘out’ dichotomy and address long term impacts, based on rigorous analysis and sound data.
'The Impact of Possible Migration Scenarios After 'Brexit' on the State Pension System' - A report, undertaken by the National Institute for Economic and Social Research (NIESR), on behalf of the IFoA
A webcast of Dr. Angus Armstrong the head of Macroeconomics at The National Institute for Economic and Social Research (NIESR), explaining IFoA commissioned research on immigration and the State Pension with regards the EU Referendum outcome:
The IFoA is all about creating a community for its members. On the topic of the EU Referendum, the IFoA wanted to create a sense of community in three ways:
The IFoA organised two national debates on the EU referendum in Edinburgh (on 5 April 2016) and London (on 11 April 2016). In addition to members, non-IFoA members were invited, including representatives from the media. The objective of these events was to help foster the IFoA member community through soliciting debate among members regarding actuarial issues around the EU referendum, and presenting the IFoA’s research, narratives and positions to date. The events followed a 'Question Time-style' debate on the theme: “The long term impacts and risks following the EU referendum outcome”.
The debate in Edinburgh on 5 April was recorded:
- IFoA members should log in and view the recording through the IFoA's virtual learning environment, which will enable CPD to be verified.
- Non-members can view the recording below:
Visit IFoA regional groups
The IFoA also sought to involve its members in this important debate via its regional groups. To that end, we visited meetings of the regional groups, during which members were able to receive information about the latest state of EU-play, give feedback about the IFoA activities on the EU Referendum, and discuss and raise issues and concerns that they may have.
Conduct member surveys
To be more inclusive of our international members and further build the IFoA community, the IFoA conducted a 400 Club survey, to gauge from IFoA members what their most important issues are regarding the EU referendum. The IFoA will use the results to be more responsive to questions and needs members might have on this topic.
How can you contribute?
We would like to hear from you:
- we would like to know if you have any thoughts, ideas, concerns or questions about the EU Referendum and the actuarial profession.
- we also want to know better what you think about the IFoA plans so far, research topics and events we plan to organise. Please let us know if you have any more ideas on what the IFoA could do to make you better informed.
- are you part of a regional group and would you like IFoA policy managers to visit for an informed discussion about the EU referendum? Please let us know, and we will arrange a visit.
Find out more about the IFoA and the EU Referendum in the IFoA's letter to the FT, published on 15 January 2016.
Each week we publish a summary of what has occured that week relating to the EU Referendum and as detailed in the table below:
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