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:
- 1 November 2017
You might also like
For more information about Pensions working parties contact the Communities Team.
Filter or search events
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
Opportunity to participate in a virtual Roundtable Discussion hosted by the IFoA in conjunction with the City of London Corporation’s Socio-economic Diversity Taskforce
In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.
This webinar will cover:
• Some background on the risks of misselling in an ESG context, including the DWS case
• Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities
• This tension can be resolved with a concept called Universal Ownership
• Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities
This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on the expected future changes. Through examining the transformation, we will highlight how the sector is and can use actuarial expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.