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Pensions

The Pensions practice area is a source of expertise within the IFoA. Pensions actuaries work with other specialists, to help pension schemes meet the needs of trustees, employers and scheme members.

Engaging individuals to plan and to save for their retirement is the most pressing challenge in the current pensions landscape. The decline of defined benefit pensions and the increase in defined contribution pensions is transferring the responsibility for securing an adequate income in retirement from employers to individuals. Yet many individuals do not know what level of savings they need to have an adequate income in retirement.

The UK Government has taken some successful steps to start to address savings issues, through the implementation of Automatic Enrolment. But there are still a number of actions individuals, employers, the pensions and advice industry, and Government could take to improve individuals’ financial capability and help them to understand what an adequate retirement income could look like for them, and how to meet their retirement income goals.

There has perhaps never been a busier time in UK pensions policy, with changes afoot that touch almost every aspect of a pension scheme’s funding and operation.  The IFoA Pensions Board has been at the very centre of the key debates, from the Pensions Schemes Bill and TPR’s new Code of Practice to GMP equalisation and consolidation.  Perhaps most importantly, we have raised our voices loud and applied our unique technical expertise, to the critical national issue of Defined Contribution Scheme adequacy, seeking to ensure that people are able to enjoy a comfortable retirement .”

Mark Williams, Chair, Pensions Board 

Pensions Policy Papers 

Pensions Consultations

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E.g., 24/10/2021
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E.g., 24/10/2021

Events calendar

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Fully booked.

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • GIRO 2021 Webinar Series

    Online
    8 November 2021 - 19 November 2021
    Spaces available

    Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.

  • Spaces available

    This is a free webinar with an expert panel providing their views on the ongoing IFoA consultation for proposals regarding changes to the regulatory framework on climate change and sustainability.

    The regulatory consultation sets out, for feedback some proposed approaches that the IFoA are considering in relation to charter commitments under the UK’s Green Finance Education Charter (GFEC) and the regulatory framework, including the Actuaries’ Code.

  • Life 2021 Webinar Series

    Online
    22 November 2021 - 26 November 2021
    Spaces available

    Join leading experts to discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.