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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  the UK National Data Strategy (NDS) consultation 02.12.20 Department for Digital, Culture, Media & Sport

UK National Data Strategy (NDS) consultation

Henry Thompson
IFoA response to access to Cash: Call for Evidence 25.11.20 HM Treasury 

Access to Cash: Call for Evidence

Matthew Levine 
IFoA response to HM Treasury review of Pool Reinsurance Ltd 2020-2021: Call for Evidence 24.11.20 HM Treasury 

HM Treasury review of Pool Reinsurance Ltd 2020-2021: Call for Evidence

Steven Graham
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

    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.

  • Spaces available

    The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.

  • Spaces available

    This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.

    The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.

  • Spaces available

    The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.

    Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).

    In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • Spaces available

    In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members.  Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.

  • Spaces available

    The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar.   Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity.   This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations.    Attendees will be invi

  • Social Care Agenda

    11 October 2022

    Spaces available

    Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.

  • Spaces available

    Health contributes to happiness at the personal, family, community and societal level.  Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.

  • GIRO Conference 2022

    ACC Liverpool  
    21 November 2022 - 23 November 2022
    Spaces available

    We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.

  • Life Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP
    23 November 2022 - 25 November 2022
    Spaces available

    Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.