Most DB pension space actuaries use compound interest over long periods. Since gaining his FIA, speaker Jon Spain has been (and remains) puzzled by how discount rates should sensibly be set (depending upon the purpose). Having tried to find a way of defining the problem using an off-market approach (as opposed to mark-to-market) for long-term entities, he eventually realised that using discount rates is actually the problem.
Should DB actuaries be using something else? Join him at this breakfast event and let him explain …
About speaker Jon Spain
Since qualifying as an FIA in 1977, most of his career has been in pensions. Having formerly worked at large private sector consultancies for 12 years, Jon was employed by GAD from 1990 until early 2018. Professionally, he was a member of the Pension Fund Valuations & Market Values Working Party (which reported in October 1999) and the Valuation Rates of Interest Working Party (which was terminated before work was completed), serving on Pensions CPD Committee from 2010 until 2016.
Currently, he is a member of the SIAS Committee. This topic was previously delivered to three groups of actuaries during 2016 but time has marched on, allowing time to develop new insights.
|08.30-9.00||Breakfast and networking|
Staple Inn Hall,
Nearest Public Transport
Chancery Lane Underground Station