Pensions actuaries work with other specialists, such as pensions lawyers and administrators, to help different pension schemes meet the needs of trustees, employers and scheme members. Pension schemes are affected by the investment market and changing legislation and regulation. Actuaries provide specialist advice on the following issues:
- scheme funding - the funds needed to be held in respect of scheme benefits now as well as the funds needed to be paid in the future
- investment - strategies for selecting the most suitable assets for the funds held in the scheme
- scheme design - the level and form of benefits to be provided to the members
- accounting for pensions - determining the impact the pension scheme has on the company's accounts
- managing risk - strategies for managing and mitigating the risks associated with providing pension benefits, affecting the trustees, company and members
- corporate transactions - advising on the pensions aspects of sales or mergers which can have a significant impact
- individual benefits - advising trustees, companies and often individual members on complicated options relating to individuals' pension benefits.
The Pensions practice area is a source of expertise within the Institute and Faculty of Actuaries (IFoA)
The Pensions Board is the senior, member-led committee of volunteer actuaries. It advises the IFoA on important pensions issues and is a source of expertise within the profession on matters relating to the pensions practice area. It supports and promotes the interests of practice area members in accordance with the profession’s strategic objectives
The three subcommittees that underpin the Pensions Board are:
Related documents
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Pensions Board - Terms of Reference
1 November 2017
Contact Details
For more information about Pensions working parties contact the Communities Team.
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Events calendar
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Asia Conference 2021 webinar series
Online webinar series26 July 2021 - 30 July 2021
We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.” -
CMI Income Protection
30 July 2021In April 2021, the CMI Income Protection Committee published Working Paper 149, which detailed the changes to analysis methodology for the Income Protection Investigation and the impact of past data issues. This webinar will provide an overview of the changes in the analysis approach and discuss the adjustments to the IP11 claim inceptions graduations.
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TPR Climate Change Guidance Consultation
17 August 2021
Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri -
September 2021 - Exam Preparation Techniques Webinar
23 August 2021.
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Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them. -
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.
We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”
Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s 
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.