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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.
We have made some important changes to how we capture information about your work. This will enable us to better understand the types of roles our members are currently working in, and more generally improve the quality of our data, which will help inform our regulatory approach and allow us to support your career development and growth.
We have new options for recording; employer type, practice area, and functional nature of work in your online member record.
In this blog, Chloe Hung, Amazon best-selling author, describes some of the common misconceptions of becoming an actuary.
Actuarial science is a field that is relatively unknown or misunderstood by many people. Hence, there are some common misconceptions about it. Here are a few common ones:
1. An actuary is someone who tells you when you are going to die
Currently we are recruiting for the following volunteer roles:
- CRO Group: Deputy Chair
- Committee for Lifelong Learning in Risk Management
- GDPR working party (new)
- Risk Measures working party (flexible contributors)
Details of the above and how to apply can be found on the IFoA volunteer webpage.
The IFRS 17 implementation date is looming. How prepared is the General Insurance industry?
The Towards the Optimal Reserving Process (TORP) working party is running a survey within the General Insurance Reserving community, so we would be grateful if you could take a few minutes to answer the questions. The results will be discussed at GIRO2018.
Please complete the survey by midnight (GMT) on Monday 3 September.
Other actuary news
Added: Mon, 03/09/2018 - 14:11Just one-quarter of institutional investors worldwide consider sustainability to be a significant influence on their decision-making, new research from Schroders has found.
Added: Fri, 31/08/2018 - 16:20The vast majority of UK adults back government plans to overhaul the way victims of road accidents claim compensation for personal injuries, a new survey has found.
Added: Fri, 31/08/2018 - 14:09The UK government should abolish pension tax relief and replace it with bonuses on individual and employer saving contributions, the Centre for Policy Studies (CPS) has said.
Added: Thu, 30/08/2018 - 18:17More than eight in ten pension investment managers and trustees would like to use a checklist provided by The Pensions Regulator (TPR) during the tender process for fiduciary managers and consultants.
Added: Wed, 29/08/2018 - 17:12Shares in the world's largest fossil fuel firms have outperformed stocks in the 200 companies making most revenue from clean energy, new data reveals.
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.