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
CP20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations1 October 2020
- 23 December 2019
- 24 September 2019
CP19/5 Retirement Outcomes Review: Investment pathways and other proposed changes to our rules and guidance5 April 2019
- 3 April 2019
- 4 February 2019
- 28 January 2019
- 17 January 2019
- 26 October 2018
IFoA response to PPF consultation on assumptions to be used for valuations under section 143 and section 179 of the Pensions Act 20021 September 2018
- 7 September 2018
- 9 August 2018
- 21 August 2018
IFoA response to House of Lords Economic Affairs Select Committee Call for evidence into use of the retail price index21 August 2018
- 18 July 2018
- 16 July 2018
IFoA response to tPR and FCA Regulating the pensions and retirement income sector_ our strategic approach19 June 2018
- 31 May 2018
IFoA response to Work and Pensions Committee Collective defined contribution pension schemes inquiry1 February 2018
- 16 January 2018
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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.
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.
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.
Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.
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Join leading experts to discuss key issues, emerging ideas, and new research across the Life insurance sector.
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