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EU Referendum

With 51.9% (17,410,742) of the total votes cast, the EU referendum held on the 23 June 2016 was won by those voting to leave the EU. The electorate has spoken and the UK can now start the process of revising its relationship with the European Union

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:

IFoA events

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:

Organise national debates

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.

Weekly summaries

Each week we publish a summary of what has occured that week relating to the EU Referendum and as detailed in the table below:

EU Referendum Weekly Summaries Date
EU Referendum Roundup, week 25, 2016 22 June 2016
EU Referendum Roundup, week 24, 2016 17 June 2016
EU Referendum Roundup, week 23, 2016 10 June 2016
EU Referendum Roundup, week 22, 2016 03 June 2016
EU Referendum Roundup, week 21, 2016 27 May 2016
EU Referendum Roundup, week 20, 2016 20 May 2016
EU Referendum Roundup, week 19, 2016 13 May 2016
EU Referendum Roundup, week 18, 2016 06 May 2016
EU Referendum Roundup, week 17, 2016 29 April 2016
EU Referendum Roundup, week 16, 2016 22 April 2016
EU Referendum Roundup, week 15, 2016 15 April 2016
EU Referendum Roundup, week 14, 2016 08 April 2016
EU Referendum Roundup, week 13, 2016 01 April 2016
EU Referendum Roundup, week 12, 2016 25 March 2016
EU Referendum Roundup, week 11, 2016 18 March 2016
EU Referendum Roundup, week 10, 2016 11 March 2016
EU Referendum Roundup, week 09, 2016 04 March 2016
EU Referendum Roundup, week 08, 2016 26 February 2016
EU Referendum Roundup, week 07, 2016 19 February 2016
EU Referendum Roundup, week 06, 2016 12 February 2016
EU Referendum Roundup, week 05, 2016 05 February 2016
EU Referendum Roundup, week 04, 2016 29 January 2016
EU Referendum Roundup, week 03, 2016 22 January 2016
EU Referendum Roundup, week 02, 2016 15 January 2016
EU Referendum Roundup, week 01, 2016 08 January 2016
EU Referendum Roundup, week 53, 2015 31 December 2015
EU Referendum Roundup, week 52, 2015 24 December 2015
EU Referendum Roundup, week 51, 2015 18 December 2015
EU Referendum Roundup, week 50, 2015 11 December 2015
EU Referendum Roundup, week 49, 2015 04 December 2015
EU Referendum Roundup, week 48, 2015 27 November 2015
EU Referendum Roundup, week 47, 2015 20 November 2015
EU Referendum Roundup, week 46, 2015 13 November 2015

Related documents

Contact Details

Policy Team

policy@actuaries.org.uk

IFoA, 7th Floor, Holborn Gate, 326 – 330 High Holborn, WC1V 7PP

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Events calendar

  • KSS event in Glasgow: Public Sector Pensions

    Hymans Robertson, Glasgow 20 Waterloo St, Glasgow
    30 January 2020

    Spaces available

    – 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.

  • KSS event in Stirling: Public Sector Pensions

    M&G Prudential, Stirling Craigforth Campus, Stirling
    30 January 2020

    Spaces available

    – 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.

  • KSS event in Edinburgh: Public Sector Pensions

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

    Spaces available

    – 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.

  • The Great Risk Transfer – Breakfast briefing and launch event

    Staple Inn Hall, High Holborn London WC1V 7QJ
    31 January 2020

    Fully booked.

     

    Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.

  • Joint IFoA and SOAT Professional Skills Training event - Bangkok

    Thai Life Insurance PCL, 13th Floor, Meeting Room 13/2, 123 Ratchadaphisek Road, Din Daeng, Bangkok 10400, Thailand  
    7 February 2020

    Spaces available

    This session is jointly organised by the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries of Thailand (SOAT).

    Video case studies will be selected from the IFoA’s 2019/2020 online content which covers a range of topics under an overarching theme of “A Trusted Profession”. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

     

  • Cyber Risk Event

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 February 2020

    Spaces available

    What do good cyber practices look like and, to what extent, can we as an industry implement these operationally and recognise these for underwriting?

  • KSS event: Where now for pensions?

    Royal London Group, 1 Thistle Street, Edinburgh, EH2 1DG
    18 February 2020

    Spaces available

    With a single party government at Westminster holding a comfortable majority, and with the first phase of Brexit complete, the potential for radical reforms of the pensions landscape is increased. 

    Former Pensions Minister Steve Webb discusses what changes we can expect to see in pensions including in state pensions, pension tax relief, automatic enrolment and the workplace pension landscape.

  • Sessional: Impact of E-cigarettes Working Party

    Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
    24 February 2020

    Spaces available

    This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.

  • KSS event: How is Scotland’s population changing and what are the implications?

    New Register House, 3 West Register Street, Edinburgh
    5 March 2020

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

  • Highlights of the Life Conference 2019 - London

    America Square Conference Centre, 17, One Crosswall, America Square, London EC3N 2LB  
    11 March 2020

    Spaces available

    This event will cover the highlights from the Life Conference 2019 held in Dublin.. The Conference Committee has reviewed session feedback and has put together a high-quality technical programme featuring the best sessions from the Life Conference 2019.  Book now to ensure your place.

  • Board agenda: Why Responsible Investing, ESG, and Climate Change matters to Pension Funds, Companies

    Staple Inn, 4 High Holborn, Holborn, London. WC1V 6DR, UK
    19 March 2020

    Spaces available

    Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?

  • KSS event: A Cashless Society- Benefits, Risks, Issues and Developments

    Deloitte, 4th Floor, Saltire Court, 20 Castle Terrace
    19 March 2020

    Spaces available

    Speaker: Iain Collier, Chair of the CSWP

    The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.

    There will be an extended Q&A session at the end of the event.

  • Spring Lecture 2020, Edinburgh - Vicky Pryce

    Assembly Rooms, 54 George St, Edinburgh EH2 2LR
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming at Staple Inn - Vicky Pryce

    Staple Inn Hall, High Holborn, London, WC1 V 7QJ
    25 March 2020

    Spaces available

    This event will be live streamed from Edinburgh. 

    What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming

    Webinar
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
    Spaces available

    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:

    • the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
    • the widening application of actuarial science in achieving social impact and sustainability goals.

    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.

    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.