The population is growing, individuals are living longer, and in the coming decades there will be a growing proportion of older people in the population. The number of those over the age of 75 is projected to double over the next 30 years. All the while, improvements in healthy life expectancy are not keeping pace with this increasing longevity. All these trends point towards increased pressure on public services, in particular social security, health and social care, as the number of people using public services, such as drawing a State Pension or using the NHS, outnumbers the number of those paying into the system through general taxation. Discussion of intergenerational financial transfers have been a key theme for exploration in the growing discourse in this area. As actuaries we are also concerned about the transfer of risk between generations, from within the family, from someone’s employer, and from the government to certain individuals.
Intergenerational Fairness Policy Papers
Intergenerational Fairness Consultations
- 2 August 2019
- 11 September 2018
- 15 December 2017
IFoA response to Intergenerational Committee - Building a robust understanding of the problem of fairness between the generations - 16/12/1616 December 2016
- 23 February 2016
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Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.