Pensions: actuarial factors used to calculate benefits in UK pension schemes
This review looked at current practices adopted by actuaries advising on commutation rates and transfer values in the calculation of benefits for UK pension schemes. Endorsed by the IFoA Regulation Board, the review recommended that actuaries improve the quality of their advice by following existing actuarial standards fully. Download the full report to read the complete recommendations.
The thematic review included an exercise to combine the benchmarking information compiled by the participating organisations. The Review Team has prepared a presentation setting out sharts summarising all the information obtained as part of the benchmarking exercise.
The IFoA held a webinar in early 2021 to provide members with an opportunity to learn more about the review findings. A recording of the webinar is available to members on the IFoA's Virtual Learning Environment (VLE). You can also read Senior Review Actuary David Gordon’s responses to questions raised during the webinar in this news article on the IFoA website.
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Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.
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Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC. But how does investment risk-sharing benefit members? And does it favour some groups of members over others?