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Intergenerational Fairness

The Institute and Faculty of Actuaries (IFoA) believes that intergenerational fairness must be a priority for policymakers. There are a whole host of issues where long-term view is essential if we are going to meet today’s needs, without putting younger, or future generations at a disadvantage

Be it the ongoing review of State Pension age, the Work and Pension Select Committee’s recent examination of the pensions ‘Triple Lock’, or think tank The Resolution Foundation’s creation of the Intergenerational Commission, it is clear that much of the policymaking community, particularly in the UK, is beginning to open its eyes to these issues. And many of these issues are central to the work of actuaries.

Over the course of 2017 the IFoA will release a series of bulletins, bringing together academics, think tanks and thought leaders from across financial services and public policy to discuss three core intergenerational issues.

As well as highlighting the role of actuaries in understanding the long-term implications of this policy challenge, we want to present a broad perspective on the issue, and have invited contributions to this bulletin from a range of important voices in the debate.

Bulletins

Cover of the Intergenerational Fairness Bulletin 3Issue 3 - Health and Care, October 2017

In this third and final issue,our contributors discuss a range of health issues, including the sustainability of the health system, social care funding, antimicrobial resistance and the impact of the ageing population on health and work. 

Download the Intergenerational Fairness Bulletin, Issue 3 - Health and Care

Cover of the Intergenerational Fairness Bulletin 2 Issue 2 - Retirement, May 2017

In this issue, our contributors discuss how the evolution of retirement saving across private and public pensions has contributed towards a potential intergenerational imbalance, and what can be done to make the system more fair and sustainable in the long term.  

Download the Intergenerational Fairness Bulletin, Issue 2 - Retirement

Cover of the Intergenerational Fairness Bulletin 1Issue 1 - Climate Change, February 2017

In this issue, we consider the role of discount rates, financial disclosure and the importance of understanding not just the likely possible outcome, but the worst case scenario when assessing the potential impact of climate change. In particular, this issue addresses the role of long-term institutional investors such as pension funds and life insurance companies.

Download the Intergenerational Fairness Bulletin, Issue 1 - Climate Change

Related documents

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

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • 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

    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

    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.