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2018

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 the Treasury Committee inquiry into consumers' access to financial services. 14.12.18 Treasury Committee Treasury Committee inquiry into consumers' access to financial services.

Catherine Burtle

IFoA response to joint consultation paper concerning amendments to the PRIIPs KID 06.12.18 EIOPA EIOPA joint consultation concerning amendments to the PRIPPs KID Steven Graham
IFoA response to States of Jersey Corporate Services Scrutiny Panel 16.11.18  States of Jersey

Draft Damages (Jersey) Law, Scrutiny review - Corporate Services Panel

Steven Graham
IFoA response to PRA Consultation Paper CP 15/18 on Solvency II: Group own fund availability 12.11.18 Prudential Regulation Authority

CP 15/18 on Solvency II: Group own fund availability

Steven Graham

IFoA response to Law Commission - Leasehold home ownership

06.11.18

Law Commission

Leasehold home ownership: buying your freehold or extending your lease Matthew Levine

IFoA response to FCA Discussion paper DP18-5 on a Duty of care and potential alternative approaches

02.11.18 Financial Conduct Authority

DP18/5: a duty of care and potential alternative approaches

Matthew Levine

IFoA response to 2019/20 PPF Levy Consultation

25.10.18 Pension Protection Fund The 2019/20 Pension Protection Levy Henry Thompson
IFoA response to House of Lords Economic Affairs Select Committee inquiry on social care funding in England 08.10.18 House of Lords Economic Affairs Select Committee Social care funding in England Henry Thompson
IFoA response to pre-paid funeral plans: call
for evidence
01.08.18  HM Treasury

Pre-paid funeral plans: call for evidence

Matthew Levine
IFoA response to PRA CP 13-18 Solvency II – Equity Release Mortgages 28.09.18 Prudential Regulation Authority CP 13-18 Solvency II – Equity Release Mortgages Steven Graham
IFoA response to PPF consultation on assumptions to be used for valuations under section 143 and section 179 of the Pensions Act 2004 21.09.18 Pension Protection Fund

PPF consults on changes to S143 and S179 assumptions

Henry Thompson
IFoA response to Lords Intergenerational Fairness and Provision call for evidence 10.09.18 Select Committee on Intergenerational Fairness and Provision

Have your say on intergenerational fairness

Catherine Burtle
IFoA response to Scottish Parliament Damages (Investment Returns and periodical Payments) (Scotland) Bill 07.09.18 Scottish Parliament

Damages (Investment Returns and Periodical Payments) (Scotland) Bill

Steven Graham
IFoA response to FCA Retirement Outcomes Review 06.09.18 Financial Conduct Authority CP18/17: Retirement Outcomes Review: Proposed changes to our rules and guidance Henry Thompson
IFoA response to DMCS Centre for Data, Ethics, and Innovation consultation 05.09.18 Department for Digital, Culture, Media & Sport

Consultation on the Centre for Data Ethics and Innovation

Steven Graham
IFoA response to EAC SDGs in the UK follow-up inquiry 04.09.18 Environmental Audit Committee The Sustainable Development Goals in the UK follow-up inquiry Faye Alessandrello
IFoA response to CMA Initial decision on investment consultancy 24.08.18 Competition and Markets Authority Investment Consultants Market Investigation Matthew Levine
IFoA response to DWP Protecting Defined Benefit Pension Schemes - A Stronger Pensions Regulator 21.08.18 Department for Work and Pensions

Protecting defined benefit pension schemes – a stronger Pensions Regulator

Henry Thompson
IFoA response to FCA CP 18_17 Retirement Outcomes Review_Proposed changes to our rules and guidance-questions 1-33 and 47-49 09.08.18 Financial Conduct Authority

CP18/17: Retirement Outcomes Review: Proposed changes to our rules and guidance

Chris Hannant
IFoA response to Independent Review of the Financial Reporting Council: call for evidence 06.08.18 Department for Business, Energy & Industrial Strategy

Financial Reporting Council independent review: call for evidence

Emma Gilpin
IFoA response to LSE_Lancet Commission The Future of the NHS 30.07.18 London School of Economic and The Lancet LSE-Lancet Commission: The Future of the NHS Catherine Burtle
IFoA response to House of Lords Economic Affairs Select Committee Call for evidence into use of the retail price index 25.07.18 House of Lords Economic Affairs Select Committee

Call for evidence launched into use of the retail price index

Henry Thompson
IFoA response to IAA Proposed Revisions to the International Standard of Actuarial Practice 1 on General Actuarial Practice (ISAP 1) 23.07.18 International Actuarial Association ISAP 1 Final Review Consultation  Leisha Watson
IFoA response to Pensions Advisory Group Valuation and Expert Issues Draft Guidance 18.07.18 Pensions Advisory Group Pensions on Divorce Interdisciplinary Working Group Henry Thompson

IFoA response to DWP Pension trustees: clarifying and strengthening investment duties

16.07.18 Department of Work and Pensions Pension trustees: clarifying and strengthening investment duties’ Matthew Levine
IFoA response to PRA CP10_18 updates to internal model output reporting 13.07.18 Prudential Regulation Authority

CP 10/18 Solvency II: Updates to internal model output reporting

Steven Graham
IFoA response to PRA CP8_18 External audit of the public disclosure requirement 11.07.18 Prudential Regulation Authority

Solvency II: external audit of the public disclosure requirement

Steven Graham
IFoA response to PRA CP 9/18: Solvency II_ Modelling of the Volatility Adjustment 11.07.18 Prudential Regulation Authority

Solvency II: Internal models – modelling of the volatility adjustment

Steven Graham
IFoA response to IAA Exposure Draft of ISAP 4 on IFRS 17 Insurance Contracts 29.06.18 International Actuarial Association Exposure Draft of ISAP 4 on IFRS 17 Insurance Contracts Steven Graham
IFoA response to Health and Social Care Committee Antimicrobial resistance inquiry 29.06.18

Health and Social Care Committee

Antimicrobial resistance inquiry

Catherine Burtle
IFoA response to Stuart McMillan’s Proposed Recovery of Medical Costs for Industrial Disease (Scotland) Bill 22.06.18

Stuart McMillan, MSP

Proposed Recovery of Medical Costs for Industrial Disease (Scotland) Bill Catherine Burtle
IFoA response to tPR and FCA Regulating the pensions and retirement income sector: our strategic approach 19.06.18 The Pensions Regulator and Financial Conduct Authority Call for Input: Regulating the pensions and retirement income sector- our strategic approach Henry Thompson
IFoA response to HM Treasury Cash and digital payments in the new economy 05.06.18 HM Treasury

Cash and digital payments in the new economy

Matthew Levine
IFoA response to FCA CP18/7: Improving the quality of pension transfer advice 25.05.18 Financial Conduct Authority

 

CP18/7: Improving the quality of pension transfer advice

 

Steven Graham
IFoA response to Work and Pensions Committee defined benefit pensions white paper inquiry 25.05.18 Work and Pensions Select Committee Defined benefit pensions white paper inquiry Henry Thompson
IFoA response to PRA CP2-18 Changes in Insurance Reporting Requirements 13.04.18 Prudential Regulation Authority CP2/18 Changes in insurance reporting requirements Steven Graham
IFoA response to PRA CP 24_17 Solvency II Internal Models - Modelling of the MA 09.03.18 Prudential Regulation Authority

Solvency II: Internal models - modelling of the matching adjustment

Steven Graham
IFoA response to Communities and Local Government and Health Committees Inquiry on the Long-term Funding of Adult Social Care 07.03.18 Communities and Local Government and Health Committees

Joint inquiry on long-term funding of adult social care

Rebecca Deegan
IFoA response to FSB Key Attributes Assessment Methodology 28.02.18 Financial Stability Board

Key Attributes Assessment Methodology for the Insurance Sector: Consultative Document

Steven Graham
IFoA response to FRC Initial consultation on the future direction of the UK Stewardship Code 28.02.18 Financial Reporting Council Proposed revisions to the UK Corporate Governance Code Matthew Levine
IFoA response to ASC Exposure Draft ISAP 6 28.02.18 International Actuarial Association

Exposure Draft ISAP 6 — Enterprise Risk Management Programs and IAIS Insurance Core Principles

Michael Williams
IFoA response to PRA CP22-17 Supervisory approval for the volatility adjustment 09.02.18 Prudential Regulation Authority CP 22/17 Solvency II: supervisory approval for the volatility adjustment Steven Graham
IFoA response to PRA CP23-17 Financial Management and Planning by Insurers 09.02.18 Prudential Regulation Authority CP 23/17 Financial management and planning by insurers  Steven Graham
IFoA response to PRA CP21-17 Matching Adjustment 31.01.18 Prudential Regulation Authority

CP 21/17 Solvency II: Matching adjustment

Steven Graham
IFoA response to IAIS Revision ICPs 15 and 16 31.01.18 International Association of Insurance Supervisors

Revision ICPs 8, 15 and 16

Steven Graham
IFoA response to Work and Pensions Committee Collective Defined Contribution Pension Schemes Inquiry 24.01.18 Work and Pensions Committee

Collective defined contribution pension schemes inquiry

Rebecca Deegan
IFoA response to the European Commission- Public consultation on institutional investors and asset managers' duties regarding sustainability 22.01.18 European Commission

Public consultation on institutional investors and asset managers' duties regarding sustainability

Matthew Levine
IFoA response to the Pensions and Lifetime Savings Association - Hitting the Target 16.01.18 Pensions and Lifetime Savings Association Hitting the target: Delivering better retirement outcomes Rebecca Deegan
IFoA response to EIOPA CP-17-006 EIOPA’s second set of advice to the European Commission on specific items in the Solvency II Delegated Regulation 05.01.18 European Insurance and Occupational Pensions Authority CP-17-006  EIOPA’s second set of Advice to the European Commission on specific items in the Solvency II Delegated Regulation  Steven Graham

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

  • Spaces available

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Spaces available

    Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.

  • UK Town Hall 08:30-09:30

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • UK Town Hall 10:00-11:00

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report. 

  • Spaces available

    Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. Trustees and sponsors overseeing those schemes need to be clear on their target end-state and the associated journey plan – but too few have well articulated and robust plans.

  • Spaces available

    The actuarial skill set has much to offer the banking industry. So many of the skills that actuaries acquire during their working life translate across to the world of banking and yet banking is perceived as an alien environment to many actuaries. But is it?

  • Spaces available

    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.