The following additional resources will give you a different viewpoint on topics presented in SA4
You are not expected to have read all of the items but you should familiarise yourself with current issues and the general market background in the 18 months preceding the examination session.
Actuarial Standards
The Financial Reporting Council (FRC) is responsible for the setting of technical actuarial standards:
The Institute and Faculty of Actuaries is responsible for the setting of ethical actuarial standards:
Book
- Fundamentals of private pensions. 9th ed. McGill, D.M. et al. Oxford University Press, 2010. ISBN 978-0199544516.
(Borrow from libraries) - Good governance for pension schemes. Thornton, P.; Fleming, D. Cambridge University Press, 2011. ISBN 978-0521761611.
(Borrow from libraries) (Access eBook after member login to IFoA eLibrary via Athens*)
Articles and papers
These article and paper references from Unit 16 of SA4 Core Reading 2020 are listed alphabetically by title. Title links are to papers first presented to IFoA sessional research meetings or to Staple Inn Actuarial Society (SIAS) papers. Papers subsequently published in British Actuarial Journal (BAJ) and Journal of the Institute of Actuaries show their permanent 'DOI' links to the JIA and BAJ, as published by Cambridge Core. Members can access these articles without charge following login to the IFoA website or to the Athens portal for online resources - please contact libraries@actuaries.org.uk for an Athens account.
- Actuaries, pension funds and investment. Arthur, T. G.; Randall, P. A. JIA (1990) 117: 1-49.
(DOI: https://doi.org/10.1017/S0020268100043018) - A central discontinuance fund for pension schemes. Black, J. M.; Booth, G.; Cooper, D. R. et al. SIAS, 1999. 34 pages.
- Extending retirement choices. Retirement income options for modern needs. Retirement Choices Working Party. Faculty and Institute of Actuaries, 2001. 39 pages.
- The financial theory of defined benefit pension schemes. Exley, J.; Mehta, S. J. B.; Smith, A. D. BAJ (1997) 3(4): 835-966.
(DOI: https://doi.org/10.1017/S135732170000516X) - Liability driven benchmarks for UK defined benefit pension schemes. Chambers, A. J.; Barnes, A. E.; Barnes, M. et al. 2005 Finance & Investment Conference. 56 pages
- Longevity in the 21st century. Willets, R C; Gallop, A P; Leandro, P A et al. BAJ (2004) 10(4) 685-832 and 878-898.
(DOI: https://doi.org/10.1017/S135732170000516X) - Matching and portfolio selection: Part 1 and Part 2. Wise, A. J. JIA (1987) 114: 113-133 (DOI: https://doi.org/10.1017/S0020268100019028) and JIA (1987) 114:551-568
(DOI: https://doi.org/10.1017/S0020268100019193) - The matching of assets to liabilities. Wise, A. J. JIA (1984) 111: 445-501.
(DOI: https://doi.org/10.1017/S0020268100041858) - A note on pension scheme design issues. Faculty of Actuaries Pensions Research Group, 2002. 10 pages.
- Note on the relationship between pension assets and liabilities. Speed, C. A.; Bowie, D. C.; Exley, J. et al. SIAS, 2003. 26 pages.
- Pension fund valuations and market values. Head, S. J.; Adkins, D. R.; Cairns, A. J. G.et al. BAJ (2000) 6(1): 55-141.
(DOI: https://doi.org/10.1017/S1357321700000830) - Pensions and low inflation. Meredith, P. M. C.; Horsfall, N. P.; Harrison, J. M. et al. BAJ (2000) 6(3): 547-619.
(DOI: https://doi.org/10.1017/S1357321700001896) - Pensions, funding and risk. Chapman, R. J.; Gordon, T. J.; Speed, C. A. BAJ (2001) 7(4): 605-686.
(DOI: https://doi.org/10.1017/S1357321700002488) - Reinventing annuities. Wadsworth, M. J.; Findlater, A. J. M.; Boardman, T. V. SIAS, 2001. 77 pages.
- Risk budgeting in pension investment. Urwin, R. C.; Breban, S. J.; Hodgson, T. M. et al. BAJ (2001) 7(3): 319-364.
(DOI: https://doi.org/10.1017/S1357321700002385) - The role and responsibilities of actuaries in the defined contribution environment in the United Kingdom. Stocker, M. A.; Dudley, S. D.; Finlay, G. E. et al. BAJ (1999) 5(4): 763-800.
(DOI: https://doi.org/10.1017/S1357321700000659) - The role of high yield corporate debt in pension schemes. Sweeting, P. J. SIAS, 2002. 54 pages.
- The role of your actuary in your pension scheme. Faculty and Institute of Actuaries, 2003. 16 pages
- Sponsor Covenant Working Party Final Report – Allowing for the Sponsor Covenant in Actuarial Advice. November 2005. 40 pages
- Submission on the relationship between pension assets and liabilities. Hill, J. SIAS, 2003. 6 pages.
Other sources
- Guidance for trustees. The Pensions Regulator.
* IFoA Members and Affiliates can also login with their IFoA member credentials via Athens to the IFoA Actuarial Knowledge Hub to search for and access ebook titles.
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We try to respond to email queries within one working day. Researcher access to historical resources may require notice in advance of visit in order to retrieve items from storage.
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Webinar26 January 2021Drawing from his most recent book “The New Long Life” and his longevity research Andrew J Scott will outline how longer lives and new technologies will fundamentally reshape how we structure our lives and transform the economy. As well as looking at the agenda this will set governments and corporates he will focus on the implications for you and how you prepare your future career.
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Pensions: Actuarial Factors used to Calculate Benefits in UK Pension Schemes
Webinar28 January 2021The IFoA’s Actuarial Review Team has published its first thematic review, which looked at the actuarial advice given by scheme actuaries to UK pension scheme trustees on setting transfer values and commutation rates.
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India Town Hall
Webinar28 January 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann.
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Winter Thought Leadership Lecture with Vicky Pryce
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Webinar9 February 2021Trust and Leadership for Actuaries
Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:
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Health and Care Hot Topics webinar
Online webinar10 February 2021In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.
Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.
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As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.
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Sub-Saharan Africa Town Hall
26 February 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
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MENAP Town Hall
2 March 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.