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Rebecca Deegan, Head of Policy at the IFoA considers whether it’s time to take another look at UK pensions uprating.
Today the House of Lords Intergenerational Fairness and Provision Committee has recommended that ‘the triple lock for the State Pension should be removed. The State Pension should be uprated in line with average earnings to ensure parity with working people.’
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We were tasked with considering how policyholder responses to an extreme situation might have a significant impact on insurers. We have considered a broad range of potential extreme scenarios, driven both by economic factors and by other factors such as social change or medical advances. Further information is available on the IFoA website.
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Grahame Stott, Fellow of the IFoA and Chair of the IFoA’s Management Board, talks about his work experiences.
Q: Grahame, you describe yourself as a “businessman who happens to be an actuary”, why do you think that description fits you best?
The Institute and Faculty of Actuaries’ (IFoA’s) Life Research Sub-committee is seeking to recruit up to two new members, who could be Fellows or Associates or academics with expertise in actuarial, life insurance or related fields, to volunteer to join this sub-committee to help drive the development of actuarial practice in the Life area. The Life Research Sub-committee oversees between 14 and 20 working parties undertaking resear
Mercer has published the sequel to its widely-cited 2015 “Investing in a time of climate change” report. The report models three climate change scenarios, a 2°C, 3°C and 4°C average warming increase on preindustrial levels, over three timeframes - 2030, 2050 and 2100. It assesses the effects of both climate-related physical damages (physical risks) and the transition to a low-carbon economy (transition risks) on investment return expectations.
The Health and Care Research Sub-committee launched a member-led working party in 2018 to research mortality and morbidity of diabetes to understand how risk factors and good management of this conditions can impact outcomes.