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2016

Institute and Faculty of Actuaries (IFoA) consultation responses 2016.

The IFoA's focus is on responding to those consultations where actuarial expertise can inform debate, especially when the proposals will also directly impact on actuaries’ working lives and/or there are strong public interest issues involved.

As part of its commitment both to transparency and promoting the actuarial viewpoint on key issues, the IFoA places its responses to public consultations in the public domain.

IFoA Consultation Response  Organisation  Consultation IFoA contact
IFoA response to the Prudentil Regulatory Authority - CP32/16 Dealing with a Market Turning Event in the General Insurance Sector - 21/12/16 Prudential Regulation Authority Dealing with a market turning event in the general insurance sector - CP32/16 Philip Doggart
IFoA response to Intergenerational Committee - Building a robust understanding of the problem of fairness between the generations - 16/12/16 Resolution Foundation's Intergenerational Commission First call for evidence on building a robust understanding of the problem of fairness between the generations Rebecca Deegan
IFoA response to the Law Commission - Pension funds and social investment - 15/12/16 The Law Commission Pension funds and social investment  Rebecca Deegan
IFoA response to HM Treasury - Distributable Profits of Long-Term (Life) Insurers - 16/11/16 HM Treasury Distributable profits of long-term (life) insurers Steven Graham
IFoA response to HMT Amending the Definition of Financial Advice Consultation - 15/11/16 HM Treasury Amending the definition of financial advice: consultation Rebecca Deegan
IFoA response to TSC Solvency II Inquiry - 11/11/16 The Treasury Select Committee EU Insurance Regulation inquiry Steven Graham
IFoA response to DWP Valuing Pensions for the Advice Requirement and Introducing New Customer Protections - 07/11/16 Department for Works and Pension Valuing pensions for the advice requirement and introducing new consumer protections Rebecca Deegan
IFoA response to PPF s143 and s179 Assumptions - 31/10/16 Pension Protection Fund PPF consults on changes to S143 and S179 assumptions Philip Doggart
IFoA response to House of Lords Science and Technology Committee on Call to Evidence for Autonomous Vehicles - 26/10/16 Lords Science and Technology Committee Driverless vehicles - where are we going? Matthew Levine
IFoA response to HMT - Pensions Advice Allowance - 25/10/16 HM Treasury Introducing a Pensions Advice Allowance Rebecca Deegan
IFoA Response to IAIS on Risk-Based Global Insurance Capital Standards - 19/10/16 International Association of Insurance Supervisors (IAIS)

Consultation on Risk-based Global Insurance Capital Standard (ICS)

Steven Graham
IFoA response to EIOPA Insurance Distribution Directive - 04/10/16 European Insurance and Occupational Pensions Authority Insurance Distribution Directive Steven Graham
IFoA response to NEST: evolving for the future consultation – 28/09/2016

National Employment Savings Trust

NEST: evolving for the future Rebecca Deegan
IFoA response to PPF and tPR inquiry – 23/09/2016

Work and Pensions Select Committee

Pension Protection Fund and Pensions Regulator inquiry Philip Doggart
IFoA reponse to Lords Select Committee on The Long-term Sustainability of the NHS - 21/09/16 The House of Lords Call for evidence on Long-term Sustainability of the NHS Rebecca Deegan
IFoA response to CP16/18 - changes to disclosure rules in the FCA Handbook to reflect the direct application of PRIIPs Regulation – 19/09/2016 Financial Conduct Authority CP16/18: Changes to disclosure rules in the FCA Handbook to reflect the direct application of PRIIPs Regulation Steven Graham
IFoA response on advanced driver assistance systems and automated vehicle technologies – 09/09/2016 Department for Transport Advanced driver assistance systems and automated vehicle technologies: supporting their use in the UK Matthew Levine
IFoA response to retirement outcomes review terms of reference – 31/08/2016 Financial Conduct Authority Retirement outcomes review: terms of reference Rebecca Deegan
IFoA response to reforms to corporation tax loss relief – 18/08/2016

HM Revenue and Customs

Reforms to corporation tax loss relief: consultation on delivery Steven Graham
08-16 IFoA response to DWP on Capping early exit charges members of occupational pension schemes consultation Department for Work and Pensions Capping early exit charges for members of occupational pension schemes Philip Doggart
IFoA response to CP16/15 - Capping early exit pension charges – 18/08/2016 Financial Conduct Authority CP16/15 - Capping early exit pension charges Philip Doggart
IFoA response to CP19/16 - Solvency II: Changes to internal models used by UK insurance firms 05/08/16 Prudential Regulation Authority National Infrastructure Assessment consultation Steven Graham
IFoA response to the National Infrastructure Assessment consultation 05/08/16 National Infrastructure Commission

National Infrastructure Assessment consultation

Matthew Levine
IFoA response to DB Taskforce consultation 18/07/16 Pensions and Lifetime Savings Association DB Taskforce consultation - call for evidence Philip Doggart
IFoA response on methodology to derive ultimate forward rate (UFR) under Solvency II 18/07/2016 European Insurance and Occupational Pensions Authority EIOPA-CP-16-003 Consultation Paper on the methodology to derive the UFR and its implementation Steven Graham
IFoA response to DB Taskforce call for evidence 18/07/2016 Pensions and Lifetime Saving Association DB Taskforce call for evidence Philip Doggart
IFoA response to CP16/16 - Solvency II: matching adjustment 15/07/2016 Prudential Regulation Authority

Solvency II: matching adjustment - CP16/16

Steven Graham
IFoA response to CP16/12: Secondary annuity market – proposed rules and guidance 24/06/2016 Financial Conduct Authority

CP16/12: Secondary annuity market – proposed rules and guidance

Steven Graham
IFoA response to British Steel Pension Scheme consultation 24/06/2016 Department of Work and Pensions

British Steel Pension Scheme: public consultation

Philip Doggart
IFoA response to Making Retirement Choices Clear consultation 19/06/2016 Association of British Insurers

Making Retirement Choices Clear

Rebecca Deegan
IFoA response to CP18/16 - Reporting requirements for non-Solvency II insurance firms 13/06/2016 Prudential Regulation Authority

Reporting requirements for non-Solvency II insurance firms – CP18/16

Steven Graham
IFoA response to Public financial guidance review 08/06/2016 HM Treasury

Public financial guidance review: proposal for consultation

Philip Doggart
IFoA response to DP1/16 Equity Release Mortgages Prudential Regulation Authority DP1/16 - Equity release mortgages Steven Graham
IFoA response to TR16/2 Fair Treatment of Long Standing Customers in the Life Insurance Sector 03.06.2016 Financial Conduct Authority TR16/2: Fair treatment of long-standing customers in the life insurance sector Steven Graham
IFoA response to Consultative Document on a Standardised Measurement Approach for Operational Risk Basel Committee on Banking Supervision Standardised Measurement Approach for operational risk - consultative document Matthew Levine
IFoA response to CP13/16 SII Remuneration Requirements 02.06.2016 Prudential Regulation Authority CP13/16 SII Remuneration requirements Philip Doggart
IFoA response on Compensation for Loss of Pension Rights in Employment Tribunals 20.05.2016 Courts and Tribunals Judiciary Compensation for Loss of Pension Rights in Employment Tribunals Philip Doggart
IFoA response to CP15/16 Recalculation of the ‘transitional measure on technical provisions’ under Solvency II  13.05.2016 Prudential Regulation Authority CP15/16 - Recalculation of the ‘transitional measure on technical provisions’ under Solvency II Steven Graham
IFoA response to DC Guides consultation 11.05.2016 The Pensions Regulator DC guides consultation Philip Doggart
IFoA response to HM Treasury - Insurance Linked Securities - 29.04.2016 HM Treasury Insurance Linked Securities Philip Doggart
IFoA response to FSB Task Force on climate disclosure consultation - 29.04.2016 Financial Stability Board Task Force on Climate-Related Financial Disclosures consultation Morgan Slebos
IFoA response to CP-16-001 Consultation Paper on EIOPA’s advice on the development of an EU Single Market for personal pension products – 26.04.2016

European Insurance and Occupational Pension Authority

EIOPA-CP-16-001 Consultation Paper on EIOPA’s advice on the development of an EU Single Market for personal pension products (PPP) Philip Doggart
IFoA response on Automatic Enrolment and the Lifetime ISA enquiry – 18.04.2016

Work and Pensions Select Committee

Pensions automatic enrolment inquiry

Rebecca Deegan
IFoA response on Reporting UK Progress on Sustainable Development Goals – 15.04.2016 UK Stakeholders for Sustainable Development and the Office for National Statistics

Reporting UK progress on Sustainable Development Goals

Morgan Slebos
IFoA response to DP16/1: Ageing population and financial services – 13.04.2016 Financial Conduct Authority DP16/1: Ageing population and financial services Rebeeca  Deegan
IFoA response on ISAP 5 – 31.03.2016 IAA

International Standards of Actuarial Practice (ISAPs) ISAPs 5 and 6 — Enterprise Risk Management

Philip Doggart
IFoA response on ISAP 1a – 31.03.2016 IAA

International Standards of Actuarial Practice (ISAPs) - ISAP 1A

Philip Doggart
IFoA response to Public Consultation on Long-Term and Sustainable Investment – 25.03.2016 European Commission

Public consultation on long-term and sustainable investment

Morgan Slebos
IFoA response to Rule Changes Consultation – 24.03.2016 NEST Rule change consultation Philip Doggart
IFoA response to CP15/41: Increasing transparency and engagement at renewal in general insurance markets – 04.03.2016 Financial Conduct Authority

Increasing transparency and engagement at renewal in general insurance markets

Philip Doggart
IFoA response to the demogrphy of Scotland and the implications for devolution – 26.02.2016 Scottish Affairs Committee

Demography of Scotland and the implications for devolution

Matthew Levine
IFoA response to Intergenerational Fairness inquiry – 19.02.2016 Work and Pensions Select Committee

Intergenerational fairness inquiry

Rebecca Deegan
IFoA response to PRA CP43/15 SII: external audit of the public disclosure requirement – 19.02.2016 Prudential Regulation Authority

Solvency II: external audit of the public disclosure requirement – CP43/15

Steven Graham
IFoA response to tPR’s Draft Prosecution Policy – 17.02.2016 The Pensions Regulator Draft Prosecution Policy  
IFoA response to tPR’s Innovation Plan – 12.02.2016 The Pensions Regulator

Innovation plan consultation

Rebecca Deegan
IFoA response to AAE on ESAP3 ORSA – 11.02.2016 Actuarial Association of Europe Draft Prosecution Policy Matthew Levine
IFoA response to changes to ONS products 2015 – 08.02.2016 Office for National Statistics

Consultation on Changes to ONS Products 2015

Rebecca Deegan
IFoA response to IASB on proposed amendments to IFRS – 08.02.2016 International Accounting Standards Board

Insurance Contracts: Exposure Draft & Comment letters (ED/2015/11)

Matthew Levine
IFoA response to the Work and Pensions Select Committee - 'Pensions Automatic Enrolment' - 03.02.2016 Department for Work and Pensions

Pensions automatic enrolment inquiry

Rebecca Deegan

Contact Details

For further information on any of our public affairs or policy work please contact us on:

policy@actuaries.org.uk

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Events calendar

  • The Great Risk Transfer – Breakfast briefing and launch event

    Staple Inn Hall, High Holborn London WC1V 7QJ
    31 January 2019

    Spaces available

    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.

  • Sessional Meeting - Silent Cyber Assessment Framework

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    9 December 2019

    Spaces available

    The (re)insurance industry is faced with a growing risk related to the development of information technology (IT). This growth is creating an increasingly digitally interconnected world with more and more dependence being placed on IT systems to manage processes. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.

  • CPD Member Event in Shanghai, China

    Function Room, F39, S1 Fuson Group, the Bund Finance Centre, No.600 Zhongshang East 2nd Road, Huangpu District, Shanghai Chinese address:BFC外滩国际金融金融中心,S1复星集团,39层报告厅,上海中山东二路600号
    9 December 2019

    Spaces available

    The IFoA’s President-elect Tan Suee Chieh will visit Shanghai. We will host CPD and Awards Presenting event on Monday 9 December 2019. The event is part of Mr Tan’s first presidential trip to China.

  • Professional Skills Training - London (10 December 2019)

    Staple Inn, High Holborn, London WC1V 7QJ  
    10 December 2019

    Spaces available

    This event will be of interest to students and recently qualified actuaries.

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020.  The content and discussion at this session is particularly tailored to actuarial students and newly qualified actuaries working in any area and the format is interactive, so you should come along prepared to take part in the discussions with your peers.

  • IFoA Joint Member Event with the Sunshine Insurance Group, Beijing China

    Room TBC, Kuntai International Plaza, No.12, Chaowai Street, Chaoyang District, Beijing 地址:会议室待定,北京市朝阳区朝外大街乙12号1号楼昆泰国际大厦
    12 December 2019

    Spaces available

    The IFoA’s President-elect Tan Suee Chieh will visit Beijing. We will co-host CPD and Awards Presenting event with the Sunshine Insurance Group on Thursday 12 December 2019. The event is part of Mr Tan’s first presidential trip to China.

  • ARC Sessional Research Event: Drivers of Mortality - Risk Factors and Inequality

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

    Spaces available

    The authors will focus on a large dataset obtained from the UK’s Office for National Statistics (ONS) and related sources. Data are available at the level of Lower Super Output Areas (LSOAs) – small geographical areas with, typically, 1000-2000 residents and include death counts, exposures and a significant number of socio-economic variables including the index of multiple deprivation (IMD).

  • SIAS Event: My Journey to Data Science, Big Data and AI

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

    Spaces available

    Patrick Lee is an actuary who has made the transition to working in software architecture and artificial intelligence (AI). He holds Microsoft Professional qualifications in Data Science, Big Data and AI and is currently working towards a DevOps (the automation of software testing and deployment) qualification. He is a member of the IFoA Council and is also President of the Wessex Actuarial Society. He is also a member of the IFoA and the RSS's joint Data Science Focus Group and will talk on the ethical use of AI. 

  • Spaces available

    This presentation covers the detail for how the matching adjustment is calculated. A small simple example spreadsheet is provided and discussed in detail.

    For actuaries wanting to get more involved with the matching adjustment, this is the opportunity to get a detailed description of the mechanics involved. This includes cashflows derisking, PRA tests as well as hypothecation.

    The presentation is provided by James Sharpe who has worked on a number of matching adjustment calculations with several firms.

  • IFoA Volunteer Recognition Reception

    Staple Inn, 4 High Holborn, Holborn, London WC1V 6DR, UK
    15 January 2020

    Spaces available

    As a thank you to all our Institute and Faculty of Actuaries (IFoA) volunteers, you are invited to join us at Staple Inn Hall, for an evening of drinks, canapes and networking, in London.

    IFoA President, John Taylor, will be attending and will make a speech

    If you support the IFoA as a volunteer (member or non-member), or in any other role, and you are going to be in London on 15 January, please book your place and join us at this reception.

     

  • Sessional Meeting - Operational Risk Dependencies

    Royal College of Physicians of Edinburgh 9 Queen St Edinburgh EH2 1JQ
    20 January 2020

    Spaces available

    The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk. Their paper seeks to assist in this regard, and help develop good practice in setting assumptions and modelling operational risk dependencies. 

  • 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.

  • Professional Skills Training - London (11 February 2020)

    Staple Inn, High Holborn, London WC1V 7QJ         
    11 February 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • 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.

  • Professional Skills Training - Edinburgh (25 February 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    25 February 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • 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 on 25 March 2020 for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. 

  • 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

    The sixth annual Asia Conference once again offers a prestigious line-up of home and international speakers discussing the insurance and financial industry’s innovation and change in Asia. This year's conference in Kuala Lumpur will be hosted by Tan Suee Chieh, IFoA’s first Asian President. He will also make his Presidential address at this conference and will expand on the important elements of IFoA’s new strategy. 

    Additionally, this landmark conference will showcase how the IFoA is reinventing itself to support its members to succeed and thrive in a digital age, within traditional businesses and beyond, as a global organisation. 

    Not to be missed by international industry players, opinion formers, academic and industry leaders, actuaries and non-actuaries.