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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

  • IFoA & PRI Webinar: TCFD – leaders and challenges

    Online webinar
    2 September 2019

    Spaces available

    In collaboration with the Institute and Faculty of Actuaries, the Principles of Responsible Investment is delighted to host this webinar discussing the response to the TCFD’s recommendations two years on from their publication. The webinar will feature new analysis of the 591 investors representing $45 trillion who responded to PRI’s 2019 climate indicators, insights from the past Chair of the IFoA’s Resource and Environment Board as well as an investor case study of implementation in practice from Aviva. 

  • SIAS Event: Climate Zero to Climate Hero

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    3 September 2019

    Spaces available

    An introductory session to help you get ahead with climate change.

    • Science, terminology and initiatives: handy facts to keep in your back pocket 
    • Getting your point across: how to influence people and avoid common traps and pitfalls
    • Taking action: what are actuaries expected to do...and what are we actually doing?
  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

    • FCA business plan priorities
    • The future of regulation
    • FCA Engagement in Scotland
  • Professional Skills Training session (Jointly held with China Life)

    China Life Insurance, Beijing •  China Life Shanghai Office • China Life Shenzhen Office  
    6 September 2019

    Spaces available

    Friday, 6 September, Beijing Local Time (CST) 14.00-16.30; British Summer Time (BST) 07.00-9.30

    The IFoA Beijing Office and China Life are pleased to be co-hosting a Professional Skills Training (PST) session in Beijing, Shanghai and Shenzhen on Friday, 6 September. Wen Li (FIA), the IFoA Lead Representative in China and East Asia, will lead the PST presentation and discussion on ‘Getting it right!’.

    The main venue will be in Beijing. Members in Shanghai and Shenzhen can join the interaction with Beijing via video conference at China Life’s regional venues. (see full details below)

  • Spaces available

    The actuarial profession has much to offer the world of banking. In this second webinar on opportunities for actuaries in banking we have two actuaries sharing their experience. They will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do, the roles they see for actuaries and the skills actuaries can bring to the banking industry. They will share their experiences of how they got into banking as well as give their thoughts on how actuaries can enter the banking profession.

  • KSS event – The Future of the Actuarial Profession with Alan Watson

    Willis Towers Watson 2 Lochrin Square, 96 Fountainbridge, Edinburgh EH3 9QA
    23 September 2019

    Spaces available

    This KSS talk will explore how the Actuarial Profession is changing by looking at the past, the current and the future; considering what will be the key issues impacting the Profession over the next 20 years and why this will be different from today. Why will areas like data science be important?  What does the future hold for reserved roles? What impact will the Profession have on other professionals?  And much more!

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

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  • Chief Actuaries and Senior Life Actuaries Workshop 2019

    Staple Inn Hall High Holborn London WC1V 7QJ
    2 October 2019

    Spaces available

    This workshop, now in its sixth year, is aimed at senior actuaries working in life insurance - predominantly Chief Actuaries, but also Reviewing Actuaries and others working in risk and financial reporting. It will provide seven hours of relevant CPD.

  • The Future of the Actuarial Profession

    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

    Fully booked.

     

    Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.

  • Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

  • RSS/IFoA Data Science Ethics: the role of practitioners

    Royal Statistical Society, 12 Errol St, London EC1Y 8LX
    7 October 2019

    Spaces available

    The Institute and Faculty of Actuaries and the Royal Statistical Society have worked together to develop joint ethics guidance on data science. This is the culmination of an 18 month programme of practitioner led work. 
     
    Join us for the launch of this new guidance, with a high-level panel discussion which will explore the role of data science practitioners and professional bodies in data ethics. 

  • KSS Event – GAD: the 100 year life (Edinburgh)

    KPMG  Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    22 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • KSS event – GAD: the 100 year life (Glasgow)

    Barnett Waddingham 163 West George Street, Glasgow, G2 2JJ
    24 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

    Spaces available

    The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October.  The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters. 

  • ARC Event: Beyond Proportional Hazards

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 October 2019

    Spaces available

    ARC Event: Beyond Proportional Hazards: Statistical methods for assessment of the impact of medical advances and health interventions on longevity and population projections.

    This workshop is being delivered by the Actuarial Research Centre’s (ARC) ‘Big Health and Actuarial Data’ Research Programme.

  • Hot Topics in Health and Care: Networking and Drinks

    Staple Inn, 4 High Holborn, London WC1V 6DR
    4 November 2019

    Spaces available

    This evening will feature two new cases studies that highlight the implications for insurers of issues impacting on health and mortality for life, pensions, and health and care products; Impactability modelling: a worked example in Type II diabetes presented by Josephine Robertson, and Seasonal Mortality in England and Wales 1993-2016 presented by Mary Hall, Dublin City University.

  • The challenges for AI in Autonomous driving – Professor Andrew Blake

    Royal College of Physicians of Edinburgh, 11 Queen Street, Edinburgh, EH2 1JQ
    11 November 2019

    Spaces available

    In conjunction with the Scottish Board and supporting the IFoA’s focus on data science.

    The IFoA’s Scottish Board have arranged for UK pioneer in Computer Vision and Machine Intelligence, Professor Andrew Blake to speak to delegates on the subject of AI in Autonomous driving. This lecture will focus on safety-critical operation and the computation of risk.  

  • Autumn Pension Seminar

    Grand Connaught Rooms, 61-65 Great Queen St, Holborn, London WC2B 5DA
    13 November 2019

    Spaces available

    Join us for this brand new seminar that brings together our Current Issues in Pensions, Pensions and the Law, and Investment for Pension Actuaries events. The seminar builds on the IFoA’s Annual Pension Conference with sessions covering CDC, TPR’s code of practice, investments, legal updates and Professional Skills Training with a focus on interactive discussion throughout.

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

      Barnett Waddingham, 163 West George Street, Glasgow, G2 2JJ
      14 November 2019

      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:

      • population statistics
      • life expectancy
      • changes in age structure
      • birth and death rates, including causes of death statistics.
    • Life Conference 2019

      The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
      20-22 November 2019
      Spaces available

      The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

    • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

      Lincoln's Inn The Treasury Office, London WC2A 3TL
      2 December 2019

      Fully booked.

      The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.

    • Autumn Lecture 2019: Live Streaming

      Webinar 
      2 December 2019

      Spaces available

      Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP. 

    • Behavioural Finance Research Launch- 14 January 2020

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

      Spaces available

      We are delighted to announce the launch of the findings from our ARC funded Behavioural Finance research with a special evening event at Staple Inn on Tuesday14th January 2020. Entitled Behavioural Aspects of Institutional Investment Decision-Making, this research programme is being delivered by City, University of London, Leeds University Business School and Ipsos.

    • 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 an actuaries with an interest in morbidity or mortality.