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Auditors have provided feedback to the Pensions Practice Executive Committee regarding Schedules of Contributions. They have noted that some Schedules are written in a way that makes it difficult or impossible to audit the contributions paid in relation to the Schedule. In other cases, Schedules may not appear to comply with the relevant legal requirements. Particular areas causing difficulties to watch out for include:
The Actuarial Profession has announced the establishment of a new Public Affairs and Consultations Committee (PACC) that will report to Council.
Jane Curtis, President of the Institute and Faculty of Actuaries, has offered her congratulations to the successful candidates in the Institute and Faculty of Actuaries’ recent examinations.
The consultation on the Actuarial Profession’s conflicts of interest proposals has now closed.
The Actuarial Profession submitted a response to EIOPA-CP-11/006, Response to Call for Advice on the review of Directive 2003/41/EC on 30 December 2011.
The Profession has published the register of non-compliers in relation to the 2010-2011 CPD year. The register can be found here.
Note to all Pensions actuaries from Jane Curtis, President, Institute and Faculty of Actuaries.
In June this year, Council agreed a new strategic direction for the Actuarial Profession. The Profession is now seeking lead volunteers to assist with implementing the strategy and is inviting applications from members to fulfil these key roles.
Following the recent instabillity in the FTSE Actuaries Gilt Yield Indices, FTSE Group has since re-issued new figures from 11 October 2011 to 20 October 2011, following its investigation. Actuaries are advised to take the relevant measures to ensure use of these updated figures.
The CMI has published two related working papers, CMI Working paper 56, and CMI Working paper 57.