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2017

Institute and Faculty of Actuaries (IFoA) consultation responses 2017.

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  Date Organisation  Consultation IFoA contact
IFoA response to Treasury Committee - Household Finance Inquiry 22.12.17 Treasury Committee

Household finances: income, saving and debt inquiry

Catherine Burtle
IFoA response to Intergenerational Commission Call for Policy Solutions 15.12.17 Intergenerational Commission

The Intergenerational Commission’s second call for policy solutions

Catherine Burtle
IFoA response to DWP Consultation - The Occupational Pension Schemes Regulations 2018 30.11.17 Department for Work and Pensions

Bulk transfers of defined contribution pensions without member consent: draft regulations 

Philip Doggart
IFoA response to House of Commons Public Bill Committee’s Have your say on the Automated and Electric Vehicles Bill 14.11.17 House of Commons Public Bill Committee

Have your say on the Automated and Electric Vehicles Bill 

Matthew Levine
IFoA response to FCA CP17_26 - Individual accountability - extending the Senior Managers and Certification Regime to insurers 03.11.17 Financial Conduct Authority

CP17/26: Individual accountability - extending the Senior Managers and Certification Regime to insurers

Philip Doggart
IFoA response to FCA CP17_32 Quarterly Consultation _ Chapter 7 01.11.17 Financial Conduct Authority CP17/32: Quarterly Consultation Paper No 18 Steven Graham
IFoA response to FCA CP17_32 Quarterly Consultation _ Chapter 9 01.11.17 Financial Conduct Authority

CP17/32: Quarterly Consultation Paper No 18

Steven Graham
IFoA response to Work and Pensions Committee Pension Freedoms Inquiry 23.10.17 Work and Pensions Select Committee

Pensions freedoms inquiry

Rebecca Deegan
IFoA response to Justice Select Committee pre-legislative scrutiny draft personal injury discount rate legislation inquiry 16.10.17

Justice Committee

Pre-legislative scrutiny: draft personal injury discount rate legislation inquiry

Philip Doggart
IFoA response to MoJ Discount Rate - how should it be set 09.10.17 Ministry of Justice The Personal Injury Discount Rate: How it should be set in future- Draft Legislation Philip Doggart
IFoA response to FCA CP17_32 Quarterly Consultation - Chapter 6 PRIIPS Key Information Document and Personal Projections 02.10.17 Financial Conduct Authority

Quarterly Consultation CP17/32 - Chapter 6

Steven Graham
IFoA response to House of Lords EU Financial Affairs Sub-Committee Call for Evidence on Post Brexit Financial Regulations 29.09.17 House of Lords EU Financial Affairs Sub-Committee

Financial regulation and supervision - Lords Committee Inquiry

Matthew Levine
IFoA response to DWP Pension Protection Fund- draft regulations to take account of bridging pensions 29.09.17 Department for Work and Pensions

Pension Protection Fund: draft regulations to take account of bridging pensions

Philip Doggart
IFoA response to FCA CP17_18 Consultation on implementing asset management market study remedies 28.09.17 Financial Conduct Authority

CP17/18: Consultation on implementing asset management market study remedies and changes to our Handbook

Matthew Levine
IFoA response to PRA CP8_17 Strengthening accountability in banking and insurance optimisations to the SIMR, and changes to SMR forms 22.09.17 Prudential Regulation Authority

Strengthening accountability in banking and insurance: optimisations to the SIMR, and changes to SMR forms

Philip Doggart 
IFoA response to EU Commission EU High Level Expert Group on Sustainable Finance 22.09.17 EU Commission EU High Level Expert Group on Sustainable Finance Matthew Levine
IFoA response FCA CP17_16 Advising on Pension Transfers 21.09.17 Financial Conduct Authority

CP17/16: Advising on Pension Transfers

Philip Doggart
IFoA response to FCA Retirement outcomes review- interim report 15.09.17 Financial Conduct Authority

Retirement outcomes review: interim report

Philip Doggart
IFoA response to Scottish Government Draft Provisions to enable courts to impose a Periodical Payment Order in respect of damages for personal injury

08.09.17

Scottish Government  Draft provisions to enable courts to impose a Periodical Payments Order in respect of damages for personal injury  Philip Doggart
IFoA response to DWP Automatic enrollment defined benefit alternative quality requirements and provisions for seafarers and offshore workers has been published 30.08.17 Department for Work and Pesnions

Automatic enrolment: defined benefit alternative quality requirements and provisions for seafarers and offshore workers

Philip Doggart
IFoA response to FCA GC17_5 Proposed guidance on the FCA’s approach to the review of Part VII insurance business transfers 15.08.17 Financial Conduct Authority GC17/5: Proposed guidance on the FCA’s approach to the review of Part VII insurance business transfers Steven Graham
IFoA response to PRA CP717 Solvency II Data collection of market risk sensitivities 07.08.17 Prudential Regulation Authority

Solvency II: Data collection of market risk sensitivities – CP7/17

Steven Graham
IFoA response to IAIS Revised Insurance Core Principles 13 Reinsurance and Other Forms of Risk Transfer 31.07.17 International Association of Insurance Supervisors

Public Consultation on ICP 13: Reinsurance and Other Forms of Risk Transfer

Steven Graham
IFoA response to FCA GC17/1: Changes to the way firms calculate redress for unsuitable defined benefit pension transfers 09.06.17 Financial Conduct Authority 

GC17/1: Changes to the way firms calculate redress for unsuitable defined benefit pension transfers

Philip Doggart
IFoA response to FCA CP17/7: Insurance Distribution Directive Implementation 02.06.17 Financial Conduct Authority

CP17/7: Insurance Distribution Directive implementation – consultation paper I

Philip Doggart
IFoA response to IAIS on ICP 12 and ComFrame material integrated with ICP 12 01.06.17 International Association of Insurance Supervisors

Revised Insurance Core Principles (ICPs) and ComFrame material integrated with ICPs

Steven Graham
IFoA response to HM Treasury on the Transpositon of the Insurance Distribution Directive 22.05.17 HM Treasury H M Treasury Transposition of the Insurance Directive Philip Doggart
IFoA response to DWP on the draft Occupational Pension Schemes (Employer Debt) (Amendment) Regulations 2017 18.05.17 Department for Work and Pensions The draft Occupational Pension Schemes (Employer Debt) (Amendment) Regulations 2017 Philip Doggart
IFoA response to ESA Public consultation on the operations of the European Supervisory Authorities 16.05.17 European Supervisory Authorities  Public consultation on the operations of the European Supervisory Authorities

Steven Graham

IFoA response to the Pension Protection Fund on the third PPF Levy Triennium - 2018/19 to 2020/21 15.05.17 Pension Protection Fund Consultation on the third PPF Levy Triennium 2018/19 to 2020/21 Philip Doggart
IFoA response to DWP Defined benefit pension schemes- security and sustainability 14.05.17 Department for Work and Pensions

Defined benefit pension schemes: security and sustainability

Philip Doggart
IFoA response to the Ministry of Justice - 'The personal injury discount rate: how it should be set in future' 11.05.17 Ministry of Justice The personal injury discount rate: how it should be set in future Philip Doggart
IFoA response to Financial Conduct Authority- DP17_1 Illiquid Assets and open-ended investment funds  08.05.17 Financial Conduct Authority Illiquid assets and open-ended investment funds: DP17/1 Matthew Levine
IFoA response to EIOPA CP17-001 Proposal for Guidelines under the Insurance Distribution Directive on Complex Insurance Based Investment Products  28.04.17 European Insurance and Occupational Pensions Authority EIOPA-CP-17-001 Consultation Paper on the Proposal for Guidelines under the Insurance Distribution Directive on Complex Insurance Based Investment Products  Steven Graham
IFoA response to Department of Transport - Motor insurance: consideration of the Vnuk judgment 31.03.17  Department for Transport Motor insurance: consideration of the Vnuk judgment Catherine Burtle
IFoA response to DWP review of Automatic Enrolment - Initial Questions 20.03.17 Department for Work and Pensions Automatic enrolment in workplace pensions Rebecca Deegan
IFoA response to the European Supervisory Authority Joint Discussion Paper: Use of Big Data by Financial Institutions 17.03.17 European Supervisory Authority Joint Committee Discussion Paper on the Use of Big Data by Financial Institutions Steven Graham
IFoA response to PRA CP47_16 Maintenance of the transitional measure on technical provisions under Solvency II 15.03.17 Prudential Regulation Authority Maintenance of the ‘transitional measure on technical provisions’ under Solvency II - CP47/16 Steven Graham
IFoA response to FCA CP17_3 Proposed handbook changes to reflect the new regulatory framework for Insurance Linked Securities 14.03.17 Financial Conduct Authority CP17/3: Proposed Handbook changes to reflect the new regulatory framework for Insurance Linked Securities Philip Doggart
IFoA response to PRA CP48_16 Matching Adjustment- Iliquid unrated assets and equity release mortgages 14.03.17 Prudential Regulation Authority Solvency II: Matching adjustment – illiquid unrated assets and equity release mortgages – CP48/16 Steven Graham
IFoA response to EIOPA CP-16-008 Discussion Paper on the review of specific items in the Solvency II Delegated Regulation 03.03.17 European Insurance and Occupational Pensions Authority Discussion Paper on the Review of Specific Items in the Solvency II Delegated Regulation - CP-16-008 Steven Graham
IFoA response to EIOPA Discussion Paper on Potential harmonsation of recovery and resolution frameworks CP-16-009 28.02.17 European Insurance and Occupational Pensions Authority Discussion Paper on Potential Harmonisation of Recovery and Resolution Frameworks for Insurers Steven Graham
IFoA response to Authorisation and supervision of insurance special purpose vehicles – CP42/16 23.02.17 Prudential Regulation Authority and Financial Conduct Authority Authorisation and supervision of insurance special purpose vehicles – CP42/16 Philip Doggart
IFoA response to Bulk transfers of defined contribution pensions without member consent 21.02.17 Department for Work and Pensions Bulk transfers of defined contribution pensions without member consent Rebecca Deegan
IFoA response to FCA Asset Management Market Study - Interim Report (MS15/2.2)

20.02.17

Financial Conduct Authority FCA Asset Management Market Study - Interim Report (MS15/2.2) Matthew Levine
IFoA response to Reducing the money purchase annual allowance 15.02.17 HM Treasury Reducing the money purchase annual allowance Rebecca Deegan
IFoA response to Cyber insurance underwriting risk – CP39/16 10.02.17 Prudential Regulation Authority Cyber insurance underwriting risk – CP39/16 Philip Doggart
IFoA response to DWP and DH - Work, health and disability improving lives 16.02.17 Department for Work and Pensions and Department of Health Work, health and disability: improving lives Rebecca Deegan
IFoA response to Public financial guidance review: consultation on a single body 13.02.17 HM Treasury and Department for Work and Pensions Public financial guidance review: consultation on a single body Catherine Burtle
IFoA response to Fiscal Risks Report 26.02.17 Office for Budget Responsibility Fiscal Risks Report Matthew Levine
IFoA response to Task Force on Climate-related Financial Disclosures   10.02.17 Task Force on Climate- related Financial Disclosures Recommendations of the Task Force on Climate-related Financial Disclosures Rebecca Deegan
IFoA response to Regulations implementing a new regulatory and tax framework for Insurance Linked Securities 18.02.17 HM Treasury Regulations implementing a new regulatory and tax framework for Insurance Linked Securities Philip Doggart
IFoA response to Occupational pensions: draft regulations, legislative review and Guaranteed Minimum Pensions equalisation methodology 15.02.17 Department for Work and Pensions Occupational pensions: draft regulations, legislative review and Guaranteed Minimum Pensions equalisation methodology Philip Doggart
IFoA response to Department for Work and Pensions - Independent Review of the State Pension Age Interim Report   09.02.17 Department for Work and
Pensions
State Pension Age Independent Review: Interim Report with Questions Philip Doggart
IFoA response to Financial Conduct Authority - CP16/30: Transaction Cost Disclosure in Workplace Pensions 04.02.17 Financial Conduct Authority CP16/30: Transaction cost disclosure in workplace pensions Matthew Levine

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.