If you need help interpreting professional or technical guidance you should normally seek advice from a senior actuary first and, if that does not resolve the matter, you may wish to submit your query to the PSS for guidance.
Queries are anonymised and then referred to the relevant topic or practice area specific panel of experts for consideration. Panel members exchange their views on the query via e-mail before a final response is drafted. That draft is then considered and agreed by the panel members before the final response is issued to the enquirer.
How long does the process take?
We will acknowledge receipt of your query within two working days and will try to respond in full within 15 working days. The PSS tries to respond to queries as soon as possible; however the speed of response will ultimately depend on the nature and complexity of your query.
In a small number of cases, the PSS may be unable to provide a full response within 15 working days. In those cases, we will contact you and explain the reason for the delay.
Will my query always remain confidential?
The only circumstances in which an enquiring member’s confidence cannot be assured by us is where the Institute and Faculty of Actuaries (IFoA) has a legal obligation to report information or where the query submitted to the PSS discloses details of an illegal act.
Depending on the situation, the IFoA may first encourage the enquiring member to make the disclosure him or herself. If that advice is not taken, the IFoA may be required to breach the member’s confidence and make the report. The decision to take that step would be taken by the General Counsel to the IFoA, our senior legal adviser.
If you have an enquiry which is not addressed on these pages or in the PSS User Guide please contact
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Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.
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.
The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.
Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life? Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown. They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.
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?