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The IFRS 17: Future of Discount Rates working party has been exploring a number of issues surrounding the derivation and use of discount rates for IFRS 17. To date, the group has produced an article summarising the activity it is undertaking, an overview of the key considerations involved in setting discount rates under IFRS 17, a comparison between existing discount rate approaches and IFRS 17 (published in The Actuary magazine), and an analysis of issues arising from the use of locked-in stochastic discount rates.
APS X2: Review of Actuarial Work came into force in July 2015. It introduced a cross-practice approach to work review, requiring all members to use their judgment to determine whether to apply work review to actuarial work and in particular to consider whether it is appropriate and proportionate for such work review to be in the form of independent peer review.
The Pensions Advisory Group (PAG) is a multi-disciplinary group on the subject of pensions on divorce. This summer the PAG released a substantial guide to good practice in England and Wales. All practitioners in the area of pensions on divorce will need to be familiar with the guide. Pensions actuaries more generally will benefit from familiarity with the issues addressed.
Everything the IFoA does is directed by over 4,000 actuarial colleagues giving their time to volunteer for their profession. Make the most of your membership and get involved.
The place of the volunteer in the IFoA has long been valued and recognised; we remain a membership organisation reliant on and driven by actuaries like you, and other professionals, who give their time for the good of the profession and to enhance actuarial science.
The place of the volunteer in the Institute and Faculty of Actuaries (IFoA) is embedded in our DNA. To us they’re true actuarial heroes.
IFoA member David Ford, introduces the new practical guide to help actuaries working in Life Insurance consider the impact of climate change.
This week, we’re proud to announce the launch of a pensions-focused research report from the University of Kent and the University of Waterloo, in Canada. This research has been supported by an international partnership of funders, including the IFoA, the Canadian Institute of Actuaries and the Society of Actuaries in the US.
We are pleased to announce the appointment of David Gordon to the role of Senior Review Actuary at the IFoA.
David comes to the IFoA with over 30 years’ experience in the pensions industry. He has worked with Willis Towers Watson throughout his career, advising numerous UK pension schemes, and their sponsors, on how best to deliver funding, investment, and risk management.
Members of the Institute and Faculty of Actuaries (IFoA) can be inspired and gain so much from each other: mutual support, powerful collaborations, and new and even disruptive thinking; diversity of thought, if you will.
The climate emergency is posing material financial risks that could threaten the security of pension fund members’ benefits. Significant pension funds should be obliged to disclose how they are managing their climate-related financial risks.
Read the full article on The Actuary website.
Other actuary news
Added: Tue, 19/11/2019 - 16:42Emerging Asia will help drive growth in insurance markets over the next two years despite a slowing world economy, Swiss Re has predicted.
Added: Tue, 19/11/2019 - 16:24Women represent an increasingly large proportion of the very elderly in the UK, and are almost twice as likely as men to reach the age of 100 once they are 90.
Added: Thu, 14/11/2019 - 09:50Around half of chief financial officers (CFOs) in Europe are feeling pressure from their customers and employees to take action on climate change, a new survey by Deloitte has found.
Added: Wed, 13/11/2019 - 14:18Half of all new appointments to senior leadership roles at FTSE 100 companies will have to go to women next year if government-backed targets for gender diversity are to be achieved.
Added: Tue, 12/11/2019 - 13:13The majority of private equity firms in the UK do not carry out sufficient assessments of cyber risks at their target companies, a new study has uncovered.
Added: Mon, 11/11/2019 - 16:31Average commercial insurance pricing increased by 8% in the third quarter of 2019 globally, the biggest rise recorded by Marsh in seven years.
Added: Mon, 11/11/2019 - 14:18Victims of pension scams lost an average of £82,000 in the UK last year, which is equivalent to around 22 years' worth of savings for workers on median salaries.
Added: Thu, 07/11/2019 - 03:00With the Government Actuary's Department celebrating its centenary this year, Matt Gurden shares some of the ways in which it is advising and supporting policymakers
Added: Wed, 06/11/2019 - 11:30The insurance-linked securities (ILS) market has enjoyed significant growth this year, with non-life capacity issued or outstanding at a near-record high, research by Willis Re has uncovered.
Added: Tue, 05/11/2019 - 14:40Financial institutions will save $7bn (£5.43bn) by 2024 thanks to blockchain technology and the automation of customer checks, a market research firm has found.