The IFoA carries out regular thematic reviews and information gathering exercises looking at topics, roles, and/or areas of work relevant to actuaries. This involves reviews of how work is carried out in practice by actuaries, including a review of the work itself.
Outputs of these reviews and exercises explain and present the scope of the reviews as well as provide relevant analysis, findings, and/or recommendations.
The IFoA Review Team has published its eighth report, Pensions on divorce: expert actuarial advice.
The review examined how actuaries provide advice and calculations for pensions on divorce cases. The report highlights the challenges of this type of work, which requires the ability to explain actuarial concepts clearly and succinctly to consumers with little or no pensions knowledge. The report also provides examples of good practice.
As an additional input to this thematic review, we carried out a survey of family lawyers to hear their views on pensions on divorce expert reports.
Download the results (PDF, 1 MB)
To support the publication of the report, we are hosting a webinar to explore the key findings on Thursday 30 May from 08:30 to 09:30. The webinar is free to all IFoA members.
David Gordon, IFoA Senior Review Actuary, said:
“I would like to thank those actuaries from 12 organisations who took part in this review, which included scrutiny of 36 examples of expert reports and in-depth conversations with the actuaries involved. For the first time in our thematic review programme, we have also sought direct feedback from users of actuarial advice, in this case family lawyers, to hear their views on the advice they are seeing. We thank those completing the survey along with the stakeholders who helped publicise the exercise among family lawyers.”
The IFoA Review Team has published its seventh report Actuaries using data science and artificial intelligence techniques.
Actuaries are well-placed to use data science, and associated modelling techniques, to address a wide range of problems. This review used case studies, provided by participating members and their organisations, to examine how actuaries are using, applying, or developing new ways to use existing and emerging data science and AI techniques to their areas of practice in the field.
To support the publication of the report we hosted a webinar to explore the key findings on Tuesday 19 March. Members can now watch a video of the webinar on the IFoA Virtual Learning Environment (VLE).
Alan Marshall, IFoA Review Actuary, said:
“Thank you to everyone who has participated and given time to our review. This has undoubtedly helped us in assessing relevant findings to support both our members and the regulatory activity of the IFoA. I hope the findings and conclusions are of interest to a wide audience and we look forward to ongoing discussions and debate in this exciting field.”
Pensions: actuarial factors used to calculate benefits in UK pension schemes
For more information please contact the Actuarial Review Team
Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA
