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The Cashless Society Working party’s interim paper on “Benefits, risks and issues” explored the mechanics of Negative Interest Rate Policies. A number of countries have implemented NIRP, as well as other unconventional monetary policies.
What have we learnt to date? This addendum complements formal studies mostly dating from late 2017, with relevant news reports on 2018 Q1 and Q2 developments and commentaries:
In the past year our member’s support has enabled the Institute and Faculty of Actuaries (IFoA) to deliver over 170 events, conferences and webinars, launch our Lifelong Learning offering and ensure our voice was heard on relevant issue at the heart of policy making; on Government Select Committees, in key policy consultations and our
Cyber risk is routinely cited as one of the most important sources of operational risks facing organisations today. Further, in recent years, cyber risk has entered the public conscience through highly publicised events involving affected UK organisations such as TalkTalk, Morrisons and the NHS. Regulators and legislators are increasing their focus on this topic, with GDPR a notable example of this.
In this blog, Chloe Hung, Amazon best-selling author, describes in her own experiences, some of the best things about being an actuary.
Actuarial science may be a challenging field to pursue but I’m glad I made the decision to pursue it. It’s a profession that truly rewards students who work hard.
Climate change has risen up the financial sector’s agenda. Motivated by concerns that climate-related risks pose a threat to the stability of the global financial system, the Financial Stability Board created the Taskforce on Climate-related Financial Disclosures (TCFD) to encourage better disclosures and facilitate better market pricing. The TCFD has recommended that companies and investors use scenario analysis to understand climate-related risks and opportunities.
The introduction of pension freedoms in 2015 has had profound implications for how people can access their pensions savings.
However, to date there has been limited consensus around how best to build pre-retirement lifestyling strategies, and post-retirement drawdown products, in the light of this new environment. More fundamentally, is it still appropriate to have such a rigid dichotomy between “working” and “retired” phases of life?
In this blog, Khushil Modi, Actuarial Consultant at Deloitte, talks about his day-to-day role in more detail.
The NHS is tackling the challenge of rising healthcare demand and constrained funding by implementing new models of care to develop integrated local healthcare systems for a defined population.
The deadline to have switched over to the Personal and Professional Development (PPD) scheme is 1 September 2018.
If you joined as a student on or after 1 September 2017 then you should already be completing your PPD requirements and could be audited after your first year as a student of the IFoA is complete.
On behalf of the IAA Banking Working Group chaired by Michael Tichareva and the Big Data Working Group chaired by Ashleigh Theophanides, you are invited to participate in the upcoming webinar entitled the Application of Big Data in Banking. The webinar will be held on Thursday, 20 September 2018 at 10:00 EDT // 14:00 GMT // 16:00 SAST. This event will last for a total of 90 minutes with a 30-minute question and answer session.
The keynote speaker is Pravin Burra.
Other actuary news
Added: Wed, 29/08/2018 - 16:50UK workers joining the public sector today will retire with a pension three times larger on average than those entering the private sector, new research reveals.
Added: Wed, 29/08/2018 - 16:30Four in five business executives have at least started planning blockchain initiatives for their companies, with a quarter of these already having live or pilot projects underway.
Added: Tue, 28/08/2018 - 12:30Half of British investors have seen their wealth decline since the UK voted to leave the EU back in 2016, compared with less than a fifth that have become richer.
Added: Fri, 24/08/2018 - 12:30A nationwide study has found that self-employed workers are ten times more likely to be without a private pension in the UK than people in traditional employment.
Added: Fri, 24/08/2018 - 11:20There are up to 238,562 fatalities caused by road accidents in India each year more than 100 times the UK number and actuaries could play a crucial role in tackling the problem.
Added: Thu, 23/08/2018 - 18:10There are five times as many people using wearable devices to monitor their health in England today than there were back in 2014, new research has found.
Added: Thu, 23/08/2018 - 12:35More than half a million insurance frauds took place in the UK last year, amounting to one scam every minute, analysis from the Association of British Insurers (ABI) reveals.
Added: Wed, 22/08/2018 - 17:55A first-of-its-kind mentoring scheme designed to boost female representation among actuaries has received high praise from former secretary of state Nicky Morgan.
Added: Wed, 22/08/2018 - 13:20Almost all of the UK and Ireland's 100 largest non-life insurers hold enough capital to meet their Solvency II requirements, but one-third see Brexit as a key risk to this.
Added: Tue, 21/08/2018 - 18:38Companies in the financial services sector are the least committed signatories to the Task Force on Climate-related Disclosures (TCFD), new research has found.