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2019

Institute and Faculty of Actuaries (IFoA) consultation responses.

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 CP 23/19 Solvency II: Income producing real estate loans and internal credit assessments for illiquid, unrated assets 30.12.19 Prudential Regulation Authority  CP 23/19 Solvency II: Income producing real estate loans and internal credit assessments for illiquid, unrated assets Steven Graham
IFoA response to Draft Statement of Intent (SOI) for IAA Activities on Climate-related Risks 28.12.19 International Actuarial Association  Draft Statement of Intent (SOI) for IAA Activities on Climate-related Risks Faye Alessandrello
IFoA response to simpler annual benefit statements 20.12.19 Department for Work and Pensions Simpler annual benefit statements Catherine Burtle
IFoA response to CP22/19 Solvency II: Prudent Person Principle 18.12.19 Prudential Regulation Authority CP22/19 Solvency II: Prudent Person Principle Matthew Levine
IFoA response to MS18/1.2 - General insurance pricing practices Interim Report 15.11.19 Financial Conduct Authority  MS18/1.2 - General insurance pricing practices Interim Report Steven Graham
IFoA response to Advancing our health: prevention in the 2020s 14.10.19 Department for Health and Social Care

Advancing our health: prevention in the 2020s

Henry Thompson
IFoA response to Health is everyone's business - proposals to reduce ill health-related job loss 06.10.19 Department for Work and Pensions

Health is everyone's business - proposals to reduce ill health-related job loss

Catherine Burtle
IFoA response to GC19/3: Guidance for firms on the fair treatment of vulnerable customers 04.10.19 Financial Conduct Authority  GC19/3: Guidance for firms on the fair treatment of vulnerable customers Steven Graham
IFoA response to Amendments to IFRS 17 25.09.19 International Accounting Standards Board  Amendments to IFRS 17 Steven Graham
IFoA response to the future of trusteeship and governance 24.09.19 The Pensions Regulator  Future of trusteeship and governance Henry Thompson
IFoA response to the draft guidance consultation (in response to CMA recommendation) 09.09.19 The Pensions Regulator

Draft guidance consultation (in response to CMA recommendation)

Henry Thompson
IFoA response to the PSR’s research into cash access, use and acceptance 06.09.19 Payment Systems Regulator

Call for views: The PSR’s research into cash access, use and acceptance

Matthew Levine
IFoA response to HM Treasury consultation on the regulation of pre-paid funeral plans 22.08.19 HM Treasury

Regulation of pre-paid funeral plans: consultation on a policy proposal

Matthew Levine
IFoA response to CP11/19 Solvency II: Maintenance of the transitional measure on technical provisions 21.08.19 Prudential Regulation Authority 

CP11/19Solvency II: Maintenance of the transitional measure on technical provisions

Steven Graham
IFoA response to the Financial Conduct Authority DP19/2: Intergenerational differences 01.08.19 Financial Conduct Authority  DP19/2: Intergenerational differences Catherine Burtle
IFoA response to the Treasury Committee's Decarbonisation of the UK Economy and Green Finance inquiry 26.07.19 Treasury Committee

Decarbonisation of the UK Economy and Green Finance inquiry

Faye Alessandrello
IFoA response to The Work and Pensions Select Committee inquiry on DWP spending review inquiry 19.07.19 The Work and Pensions Select Committee

Spending Review inquiry

Michael Williams 
IFoA response to GC19/2: General insurance distribution chain: proposed guidance for insurance product manufacturers and distributors 09.07.19 Financial Conduct Authroity  GC19/2 : General insurance distribution chain: proposed guidance for insurance product manufacturers and distributors Steven Graham

IFoA response to Environment Agency Flood and Coastal Erosion Risk Management Strategy

04.07.19 Environment Agency

Draft National Flood and Coastal Erosion Risk Management Strategy for England

Catherine Burtle
IFoA response to CP 7/19 Solvency II: Equity release mortgages – Part 2 03.07.19 Prudential Regulation Authority 

Solvency II: Equity release mortgages – Part 2

Steven Graham
IFoA response to underwriting environmental, social and governance risks in non-life insurance business 11.06.19 UNEP FI Principles for Sustainable Insurance Initiative Underwriting environmental, social and governance risks in non-life insurance business Faye Alessandrello
IFoA response to the Infrastructure Finance review  05.06.19 HM Treasury  Infrastructure Finance Review Matthew Levine
IFoA response to CP4/19 Liquidity risk management for insurers  05.06.19 Prudential Regulation Authority  CP4/19 Liquidity risk management for insurers Steven Graham
IFoA response to 2nd Exposure Draft of ISAP 4 on IFRS 17 Insurance Contracts 30.04.19 International Actuarial Association  2nd Exposure Draft of ISAP 4 on IFRS 17 Insurance Contracts Steven Graham
IFoA response to CP19/8: General Insurance Value Measures reporting 30.04.19 Financial Conduct Authority  CP19/8: General Insurance Value Measures reporting Steven Graham
IFoA response to IAN 100 - Application of IFRS 17 Insurance Contracts 26.04.19 International Actuarial Association  IAN 100 - Application of IFRS 17 Insurance Contracts Steven Graham
IFoA response to the Resilience study scoping consultation 05.04.19 National Infrastructure Commission  Resilience study scoping consultation Matthew Levine

IFoA response to CP19/5 Retirement Outcomes Review: Investment pathways and other proposed changes to our rules and guidance

05.04.19 Financial Conduct Authority  CP19/5 Retirement Outcomes Review: Investment pathways and other proposed changes to our rules and guidance Catherine Burtle
IFoA response to Defined contribution pensions: investments and consolidation 01.04.19 Department for Work and Pensions

Defined contribution pensions: investments and consolidation

 

Matthew Levine

IFoA response to Public Call for Evidence for an Opinion on sustainability within Solvency II

08.03.19 European Insurance and Occupational Pensions Authority

Public Call for Evidence for an Opinion on sustainability within Solvency II

Faye Alessandrello

IFoA response to CP18/40: Consultation on proposed amendment of COBS 21.3 permitted links rules

28.02.19 Financial Conduct Authority 

CP18/40: Consultation on proposed amendment of COBS 21.3 permitted links rules

Matthew Levine

IFoA response to DP18/10: Patient Capital and Authorised Funds

28.02.19 Financial Conduct Authority 

DP18/10: Patient Capital and Authorised Funds

Matthew Levine

IFoA response to Automated vehicles:preliminary consultation paper

11.02.19 Law Commission  Automated vehicles: preliminary consultation paper Matthew Levine
IFoA response to Consolidation of defined benefit pension schemes 01.02.19 Department of Work and Pensions 

Consolidation of defined benefit pension schemes

Henry Thompson
IFoA response to DP18/9: Fair Pricing in Financial Services 01.02.19 Financial Conduct Authority  Discussion Paper DP18/9, Fair Pricing in Financial Services Steven Graham
IFoA response to Setting the Personal Injury Discount Rate: Call for evidence 01.02.19

Minstry of Justice

Setting the Personal Injury Discount Rate: Call for evidence

Steven Graham
IFoA response to FCA DP18/8: Climate change and green finance 31.01.19 Financial Conduct Authority DP18/8: Climate change and green finance Faye Alessandrello
IFoA response to the Pensions Dashboards: Working together for the consumer 28.01.19 Department for Work and Pensions Pensions Dashboards: Working together for the consumer Catherine Burtle
IFoA response to Corporate Capital Loss Restriction:Consultation on Delivery 25 25.01.19 HM Revenue & Customs  Corporate Capital Loss Restriction:
Consultation on Delivery 25
Steven Graham

IFoA response to delivering Collective Defined Contribution Pension Schemes

16.01.19 Department for Work and Pensions

Delivering collective defined contribution pension schemes

Henry Thompson
IFoA response to Consultation Paper 23/18 15.01.19 Prudential Regulation Authority

Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change

Matthew Levine
IFoA response to draft application paper on recovery planning 07.01.19 IAIS

Draft application paper on recovery planning

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.