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2020

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 improving outcomes for members of defined contribution pension schemes 30.10.20 Department for Work and Pensions

Improving outcomes for members of defined contribution pension schemes

Matthew Levine 
IFoA response to solvency II: The PRA’s expectations for the work of external auditors on the matching adjustment 30.10.20 Prudential Regulation Authority 

Solvency II: The PRA’s expectations for the work of external auditors on the matching adjustment

Steven Graham
IFoA response to Payments Landscape Review: Call for Evidence 20.10.20 HM Treasury 

Payments Landscape Review: Call for Evidence

Matthew Levine 
IFoA response to Have your say on the Pension Schemes [Lords] Bill 19.10.20 UK Parliament  Have your say on the Pension Schemes [Lords] Bill Katy Little
IFoA response to Taking action on climate risk: improving governance and reporting by occupational pension schemes 07.10.20 Department for Work and Pensions Taking action on climate risk: improving governance and reporting by occupational pension schemes Faye Alessandrello
IFoA response to CP20/03: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations 01.10.20 Financial Conduct Authority

CP20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations

Faye Alessandrello
IFoA response to a call for input: Open finance 01.10.20 Financial Conduct Authority

Call for Input: Open finance

Steven Graham
IFoA response to GC20/3: Guidance for firms on the fair treatment of vulnerable customers 30.09.20 Financial Conduct Authority

GC20/3: Guidance for firms on the fair treatment of vulnerable customers

Steven Graham
IFoA response to the 2020 Comprehensive Spending Review 24.09.20 HM Treasury  2020 Comprehensive Spending Review Katy Little
IFoA response to defined benefit funding code of practice consultation 23.09.20 The Pensions Regulator

Defined benefit funding code of practice consultation

Catherine Burtle 
IFoA response to a call for Input on working papers on data standards 31.08.20

Pensions Dashboards Porgramme 

Call for Input on working papers on data standards

Catherine Burtle 
IFoA response to  a consultation on the Reform to Retail Prices Index Methodology 20.08.20 UK Statistics Authority 

Consultation on the Reform to Retail Prices Index Methodology

Catherine Burtle 

IFoA response to a consultation on expanding the dormant assets scheme

16.07.20 Department for Digital, Culture, Media and Sport

Consultation on expanding the dormant assets scheme

Matthew Levine 
IFoA's response to the Treasury Committee's inquiry into the economic impact of coronavirus - Part 2  03.07.20 Treasury Committee Treasury Committee's inquiry into the economic impact of coronavirus Steven Graham
IFoA Response to aligning your pension scheme with the TCFD recommendations 02.07.20 Department for Work and Pensions 

Aligning your pension scheme with the TCFD recommendations

Faye Alessandrello
IFoA response to the Discussion Paper on Central Bank Digital Currency 12.06.20 Bank of England  Discussion Paper on Central Bank Digital Currency Matthew Levine 
IFoA response to the AI Of The Possible: Developing Scotland’s Artificial Intelligence (AI) Strategy 05.06.20 Scottish Government  The AI Of The Possible: Developing Scotland’s Artificial Intelligence (AI) Strategy Steven Graham
IFoA response to a call for views: Advisory group on economic recovery 01.06.20 Scottish Government 

Call for Views: Advisory Group on Economic Recovery

Henry Thompson
IFoA response to the Treasury Committee's inquiry into the economic impact of coronavirus 27.05.20 Treasury Committee Treasury Committee's inquiry into the economic impact of coronavirus Matthew Levine 
IFoA response to the Environment, Food and Rural Affairs Committee inquiry on flooding  22.05.20 Environment, Food and Rural Affairs Committee Environment, Food and Rural Affairs Committee inquiry on flooding  Steven Graham
IFoA response to Consultation on changes to Technical Actuarial Standard TAS 400: Funeral Plan Trusts 11.05.20 Financial Reporting Council

Consultation on changes to Technical Actuarial Standard TAS 400: Funeral Plan Trusts

Matthew Levine 
IFoA response to the 'My BEIS Inquiry' 22.04.20 Business, Energy and Industrial Strategy Committee My BEIS Inquiry Katy Little
IFoA response to the Environmental Audit Committee 09.04.20 Environmental Audit Committee Possible Future Inquiries  Faye Alessandrello
IFoA response to the 2021 biennial exploratory scenario on the financial risks from climate change 18.03.20 Bank of England

The 2021 biennial exploratory scenario on the financial risks from climate change

Faye Alessandrello
IFoA response to consultation on draft Issues Paper on the Implementation of the TCFD Recommendations 05.02.20 International Association of Insurance Supervisors 

Consultation on draft Issues Paper on the Implementation of the TCFD Recommendations

Faye Alessandrello
IFoA response to Law Commission Consultation on Automated Vehicles: Passenger services and public transport 03.02.20 Law Commission Law Commission Consultation on Automated Vehicles: Passenger services and public transport Matthew Levine 
IFoA response to Consultation paper on the Opinion on the 2020 Review of Solvency II 15.01.20 European Insurance and Occupational Pensions Authority Consultation paper on the Opinion on the 2020 Review of Solvency II 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.