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Health and Social Care

In the face of profound demographic change, it is increasingly likely that more and more people will require long term care in later life. With a complex funding system continuously under Government review, many individuals find it difficult to understand the potential social care costs they will be expected to meet later in life and, as a result, are not sufficiently preparing for it.

The majority of the public are not aware of their responsibility for covering their social care costs, or the likelihood of it happening to them. Likewise, the UK Government has been commissioning a series of assessments of social care funding over the last twenty years to explore how best to balance individual and state responsibility for these costs. With the ‘Freedom and Choice’ pension agenda allowing individuals to access their retirement savings more easily and the NHS increasingly under budgetary strain, it is essential that Government reform the system as soon as possible to clarify what individuals, providers, and Government will be expected to pay so that they can prepare accordingly. 

Jules Constantinou - Past President Despite numerous attempts by successive governments to reform the system, social care remains in crisis and under constant pressure – both financially and in terms of demand. Actuarial expertise can support the government as it looks for ways to meet the evolving needs, demands and expectations of the health and care system.

Jules Constantinou - Past President  

Health and Social Care Policy Papers 

Health and Social Care Consultations

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Events calendar

  • Spaces available

    At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.

  • CILA 2022

    23 May 2022 - 24 May 2022

    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.

  • Spaces available

    In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.

    The Business of the AGM

  • The IFoA Conference 2022

    133 Liverpool St, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
    Spaces available

    We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.