The Actuarial Profession has responded to news of the Department for Work and Pension’s green paper on reforming the state pension by saying it welcomes moves to simplify the system.

Huw Evans, of the Profession’s pensions committee said: “The Actuarial Profession has argued that a state pension system that is fair, simple, easy to understand and transparent will make it easier for people to make informed decisions about their financial future.

“In 2009, the Actuarial Profession published a book entitled 100 years of state pension: learning from the past. We will use the lessons from this research to understand the mistakes and successes of the past as we play a full and engaged role in the debates and decision making to come.” 

Ends

Enquiries: Tel. Michael Scanlan on +44 (0)20 7632 1453 / +44 (0)7798 804 871 or email michael.scanlan@actuaries.org.uk

Notes to Editors:

  1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
  2. The Profession is governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
  3. Members of the Institute and Faculty of Actuaries have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
  4. The Profession is available to provide expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.

 Follow us on Twitter @actuarynews