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We have published the annual report from the Regulation Board for 2020/2021.
This is only the second year that the Board has published an annual report after it introduced a range of measures to enhance the Board’s transparency and accessibility for members and the public.
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s updates cover week 39 of 2021 (25 September to 1 October) and the third quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 12 October 2021.
The key points of these updates are:
Chris Sutton provides an update from the latest board meeting
The Risk Management board is responsible for developing and delivering the value of IFoA membership, for actuaries who work in risk management practice or who want to know about this field.
The first meeting of the 2021-22 session took place on 28 September with Peter Telford our new chair welcoming a number of new members. The board strategy endorsed at this meeting places much emphasis on member engagement and communication, and this formed a thread that ran through much of our discussion.
Lizzie Waghorn provides an update.
On Thursday 16 September, the Finance and Investment Board came together virtually to kick off the first session of 2021/2022.
This IFoA working party was set up to examine the current provision for pensions and life products against a background of emerging employment trends, including topics like product portability, simplicity and contract flexibility.
The question we attempted to answer was - what should the profession or industry do with product design in light of changing employment trends? Our main focus was the UK.
The IFoA’s Disciplinary Board has published its 2020/2021 annual report, covering activities in a year that saw board meetings and disciplinary hearings move to remote operation.
The report details how the Board managed the challenges that the global coronavirus pandemic posed to their continuing work.
The report also describes governance changes approved by Council which lead to the creation of a new and more independent Regulatory Board to which a streamlined Disciplinary Committee now reports.
To better support your practice, today sees the publication of a revised Actuarial Profession Standard (APS) P1 (Version 3.0) which will come into force in April 2022.
APS P1 sets out specific practice area ethical obligations that apply, in addition to the Actuaries’ Code, for Members working in pensions.
The revised standard replaces Version 2.0, which will be withdrawn when Version 3.0 takes effect.
Chris Reynolds, IFoA Health & Care Board Chair provides an update.
Marcus Hurd provides an update on the latest Sustainability Board activities.
Population Health Management (PHM) uses data analytics to tailor the development of interventions for local population segments. It aims to improve health outcomes across the whole population and reduce health inequalities between segments. The IFoA Population Health Management Working Party (the ‘WP’) was formed in 2018 to explore how the actuarial skillset may enhance the NHS's use of data and analytics in PHM.