Ageing Population MIG

Objectives:

The group's work mainly focused on the financial and actuarial implications of demography in the public interest.

• Keeping abreast of issues affecting demography and the financial implications to the UK population, and keeping members up-to-date on upcoming research, events and news
• Raising awareness of the opportunities available to actuaries in this area and the values actuaries can contribute
• Keeping abreast of all related Government initiatives and participating in consultations to help influence Government policy
• Carrying out research and contributing to debate on demography issues in the public interest.  The group will work with the Institute and Faculty and other external organisations and professions to achieve this

Membership:

The group was led by chair Andrew Bryan.

• Deborah Cooper
• Adrian Gallop
• Aldo Mendieta
• Joynur Rahman
• Colin Redman
• Tony Salter
• Aidan Smith

Outputs:

For 16 years, the group was successful in promoting ageing population issues always from a public interest standpoint, holding three conferences (each being able to attract well known speakers, including Frank Field and Andrew Dilnot), sponsoring a series of papers, linking up with outside organisations, in particular the International Longevity Centre, and publishing the book ‘100 years of State Pension.’

• 100 Years of State Pension - Learning from the past. This book provides a timely and informative history of pensions policy to mark the anniversary of the first payment of the state pension following the Old Age Pensions Act 1908. Presented at sessional meetings in January 2009 and March 2009
• Presentation of “Pensions and the Ageing Population” to the Staple Inn Actuarial Society (SIAS) on Tuesday 13 December 2011
• Joint IFoA and International Longevity Centre seminars. Topics covered: “The health and employment of older workers” (22 November 2011) and “Centenarians and the Oldest Old” (29 November 2011)
• H M Government consultation: Shaping the future of care together. Response from the Actuarial Profession, November 2009
• House of Commons work and pensions committee enquiry into Tackling Pensioner Poverty. Submission by the Actuarial Profession, March 2009
• Post retirement risks
• Pricing and risk capital in the equity release market. Oct 2007
• Equity Release Report 2005