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Modelling pension funds under climate change

The Institute and Faculty of Actuaries (IFoA), through its Actuarial Research Centre, is inviting research teams and organisations to submit proposals for a research project on modelling pension funds under climate change

Timeline:

Opening date 05 April 2017
Closing date 12 May 2017 (17.00 UK time, BST)
Expected award End May 2017
Expected commencement Early June 2017 onwards

Call description

Resource and environment issues, particularly climate change, are increasingly recognised as being relevant to the work of actuaries, and the IFoA undertakes a range of research, thought leadership and public affairs activities in this field. The impact of resource and environment issues on pension schemes is less understood.  Uncertainty over the size of the potential impact, and therefore whether it is material, is one of the barriers to adequately reflecting these emerging issues.

In response, the IFoA has formed a Working Party of volunteer members to focus on this issue. The “Resource and Environment Implications for Pensions Actuaries” Working Party has created a Practical Guide for actuaries who advise UK defined benefit pension schemes which will be published shortly. The guide explains where resource and environment issues are relevant to pension schemes and the work of pensions actuaries, as a first attempt at helping them navigate the associated uncertainties, in collaboration with covenant and investment advisers.

The Working Party has received feedback that pensions actuaries seek some quantification of resource and environment impacts before incorporating them into their work. It has concluded that the Practical Guide is likely to gain much more interest from and traction with, actuaries if it is supported by some quantification.  Therefore the IFoA is commissioning a piece of quantitative research which will be used to develop the supplementary report on funding advice, as well as being made available through standalone research outputs.

The research is intended to address the need for pensions actuaries to understand the potential magnitude of climate change impacts, and hence if and when climate change might be relevant to the funding advice they give.  The key difference from previous published work on pensions and climate change is that the Working Party would like this research to consider the impact on pension scheme liabilities as well as assets. 

Eligibility

Proposals would be welcomed from any research-led organisations within the university, not-for-profit, public or private sector.  Organisations may be based in the UK or elsewhere in the world.  We are particularly encouraging submissions from multi-disciplinary teams, which may span more than one organisation.

Call document

Download the Call for Research on Modelling pension funds under climate change. This document includes essential information for applicants, including how to apply.

Contact Details

For more information about the calls for research please contact the Research and Knowledge Team.

research@actuaries.org.uk

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Events calendar

  • China New Year Member Event and Thank-you Party for Volunteers (Beijing & Shanghai & Shenzhen)

    Beijing Chinese address: 北京瑞吉酒店 记者俱乐部酒吧,朝阳区建国门外大街21号 English address: Press Club Bar, St Regis Hotel Beijing, No. 21 Jianguomenwai Street, Chaoyang District, Beijing Shanghai Chinese address:布朗石西班牙餐厅酒吧(96广场店),东方路796号九六广场1楼130单元 English address: Brownstone Tapas & Lounge (96 Plaza),  96 Plaza, F1, Room 130, No. 796 Dongfang Road Shenzhen Chinese address: 稻亭日本料理(购物公园店), 深圳市民田路购物公园北2楼206号 English address: Daoting Japanese Cuisine (Shopping Park), Room 206, No. 2 North  Building, Shopping Park, Mintian Road, Shenzhen
    22 January 2019 - 25 January 2019

    Spaces available

    The IFoA Beijing Office would like to invite our members in the region to join the New Year Member Event and Thank-you Party for Volunteers, to thank all our members and volunteers, to congratulate all the new qualifiers in the 2018 September exam session, and to celebrate the New Year and the Spring Festival! Food and drinks will be served. The IFoA CEO Mr Derek Cribb will also join the Beijing and Shanghai events.

  • KSS Event: How to be a High-Frequency Trader

    KPMG   Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    24 January 2019

    Spaces available

    This talk, which is based on interviews with 78 high-frequency traders (and other relevant people, such as those who supply them with information links), will ‘open the black box’ of HFT. The speaker will examine the main internal divide within HFT: between algorithms, trading groups and firms that specialise in ‘making’ (adding bids or offers to order books that cannot be executed immediately) and those that specialise in ‘taking’ (entering orders that can be executed immediately). 

  • Professional Skills Training event - Jointly organised by the IFoA and the Society of Actuaries of Thailand (SOAT)

    Ocean Life Insurance PCL, Meeting room 1, 24th Floor, 170/74-83 Ocean Tower 1 Building, Rachadapisek Road, Klongtoey, Bangkok 10110, Thailand We would like to thank Ocean Life Insurance PLC for sponsoring the venue  
    30 January 2019

    Spaces available

    Jointly organised by the IFoA and SOAT, this session held in Bangkok is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions. 

  • ARC Event on Periodical Payment Orders

    Staple Inn, High Holborn, London WC1V 7QJ
    20 February 2019

    Spaces available

    The IFoA’s Actuarial Research Centre (ARC) is convening a research event on the subject of Periodical Payment Orders (PPOs) in late February 2019.

  • IFRS17 Workshop, 21 February

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    21 February 2019

    Spaces available

    IFoA Logo for EventsThe Life Board and Life Lifelong Learning Sub-committee are running this half-day workshop on IFRS 17.

    They will provide a detailed understanding of the key concepts of the standard, as well as discuss how implementation will impact people, process and systems.  They will also share views on how the new standard will change the way insurers are viewed in the market, and share perspectives from within and outside of the profession.

     

  • Highlights of the Life Conference 2018 - London

    Ect Venues, 200 Aldersgate, St. Pauls, London EC1A 4HD
    5 March 2019

    Spaces available

    This event will cover the highlights from the Life Conference 2018 held in Liverpool. The Conference Committee are reviewing session feedback and will be putting together a high quality technical programme featuring the best sessions from the Life Conference 2018.  Book now to ensure your place.

  • Life and F&I One Day Workshop

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    11 March 2019

    Spaces available

    This is a cross practice life and F&I event offering high quality CPD in a series of presentations with time for Q&A after each, suitable for Life actuaries and those in finance and investments roles.

  • Sessional Meeting: Investment risk for long term investors - risk measurement approaches

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    18 March 2019

    Spaces available

    The term ‘investment risk’ is often used loosely, and frequently confused with the notion of short term price volatility, particularly for equity instruments. For the long term investor, however, what is most apposite is the ability to meet future real cash flows as they become due.

  • Highlights of the Life Conference 2018 - Edinburgh

    Apex Grassmarket Hotel, 31-35 Grassmarket, Edinburgh EH1 2HS
    19 March 2019

    Spaces available

    This event will cover the highlights from the Life Conference 2018 held in Liverpool. The Conference Committee are reviewing session feedback and will be putting together a high quality technical programme featuring the best sessions from the Life Conference 2018.  Book now to ensure your place.

  • Professional Skills Training - London (19 March 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    19 March 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • KSS event - FinTech and The Actuarial Profession

    Barnett Waddingham 163 West George Street, Glasgow, G2 2JJ
    20 March 2019

    Spaces available

    This KSS talk from FinTech Scotland's CEO will explore the mission to create an integrated Fintech ecosystem through provision of funding, support, infrastructure and talent that recognises and responds to the needs of all stakeholders - and the overarching aim for Scotland to be one of the top 5 Fintech global leaders by 2020.

  • Professional Skills Training - Edinburgh (26 March 19)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    26 March 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (16 April 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    16 April 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

    Video case studies will be selected from the IFoA’s 20187/19 online content which covers a range of topics under an overarching theme of “Getting it right!”

  • Professional Skills Training - Edinburgh (30 April 19)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    30 April 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • IFoA Asia Conference 2019, Chengdu

    Crowne Plaza Chengdu Panda Garden, Poly Park 198, No. 1980 ShuLong Avenue,Xindu District, Chengdu 
    9 May 2019 - 10 May 2019

    Spaces available

    SAVE THE DATE

    The annual IFoA Asia conference is scheduled for 09 - 10 May 2019 in Chengdu, China.

  • CILA 2019

    30 Euston Square, London NW1 2FB
    14 May 2019

    Spaces available

    CILA is one of the pre-eminent events in the annual Life calendar. This event is one of the most popular in the Life area, often drawing over 200 delegates.  

  • Professional Skills Training - London (16 May 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    16 May 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Sessional Research Event - Saving for Retirement: Rules of Thumb

    Staple Inn Hall, High Holborn London WC1V 7QJ
    20 May 2019

    Spaces available

    How much does the average person need to save over a full working life to provide a decent retirement income? We call this the Lifetime Pension Contribution (LPC) and have attempted to quantify it. Discussing whether we have got it right is a valuable debate, touching on the anticipated level of retirement benefits, the required fund at retirement to achieve those benefits and how our conclusions fit with automatic enrolment. It is also closely related to the PLSA’s development of Retirement Income Targets.

  • Professional Skills Training - London (12 June 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    12 June 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019.  This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Current Issues in General Insurance (CIGI) 2019

    Inmarsat, 99 City Road, London, EC1Y 1BJ
    19 June 2019

    Spaces available

    CIGI will provide an excellent and diverse line-up of speakers, each providing their insight and knowledge on a range of topics.  The programme will be broad in nature, so will be of most value to those with some experience in the industry. 

  • Professional Skills Training - London (25 June 19)

    Staple Inn Hall, High Holborn London WC1V 7QJ
    25 June 2019

    Spaces available

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2018/2019. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.