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23 Jun 2011

Second International Comparative Study of Mortality Tables for Pension Fund Retirees

A paper entitled a “Second International Comparative Study of Mortality Tables for Pension Fund Retirees” has been published by T.Z.Sithole (Kingston University), S.Haberman and R.J.Verrall (both Cass Business School, City University London). 
 

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19 May 2011

Dept of Social Protection invites tenders for pensions consultancy

As part of the National Pensions Framework implementation process, the Department of Social Protection intends to establish a panel of consultants, some of whom may be engaged from time to time during the implementation process.

In that regard, a Request for Tender has been published today, requesting applications from vendors who wish to be considered for entry to that panel.     

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11 May 2011

Society issues press release on Pension Fund Levy

The Government announced yesterday that “Jobs Initiative 2011” will be partly funded by a special levy on pension savings.


In a press release the Society of Actuaries in Ireland acknowledged the economic and fiscal challenges the country faces and the

need in particular to get more people back to work. However, any changes to pension policy can have far-reaching consequences,

so must be properly thought through.

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10 Mar 2011

IAA Releases Note on Enterprise Risk Management for Pensions

IAA News Release:

The International Actuarial Association is pleased to announce the publication by its Pensions and Employee Benefits Committee of a Note on Enterprise Risk Management for Pensions.

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01 Mar 2011

Society issues press release on Gender Directive ruling

The European Court of Justice (ECJ) has today ruled that Article 5(2) of the Gender Directive 2004/113/EC breaches European Union gender discrimination laws.  Article 5(2) currently permits individual member states to differentiate between men and women when pricing insurance where statistical evidence shows gender is a determining risk factor.  The ECJ has ruled that this derogation is invalid from 21st December 2012.  

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21 Dec 2010

Society issues statement on "sovereign annuities"

The Society of Actuaries in Ireland has issued a statement welcoming the "sovereign annuities" initiative introduced in the Dáil last week. 

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25 Nov 2010

Expert Working Group publishes Report on Medical Negligence and Periodic Payments

An expert working group on medical negligence litigation, chaired by High Court Judge Mr Justice John Quirke and including Mr James Kehoe, Fellow, Society of Actuaries in Ireland, has reported that the current system of awarding lump sum payments for damages for future care needs in medical negligence, and all other cases where catastrophic injuries are awarded damages, is inadequate and inappropriate.

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11 Nov 2010

Society says that fundamental review of defined benefit pension system is long overdue

The Society of Actuaries in Ireland has stressed that it is vital that the ambitious deadline set for the potentially far-reaching review of defined benefit pension schemes announced recently by Minister Ó Cuív is delivered upon and a new protection system is put in place promptly.

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08 Nov 2010

Sovereign Annuities

The Society has issued a briefing statement on the “sovereign annuities” concept that has attracted media attention recently.

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15 Sep 2010

Submission to Health Insurance Authority on Minimum Benefit Regulations

The Society has responded to a consultation paper from the Health Insurance Authority on “Minimum Benefit Regulations in the Irish Private Health Insurance Market”.

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30 Aug 2010

Submission to Health Insurance Authority on Risk Equalisation

The Health Insurance Authority’s recent consultation paper on “Risk Equalisation in the Irish Private Health Insurance Market” invites input on the risk factors to be taken into account in a risk equalisation scheme, such as age, gender and health status.  In the Society’s response to the paper, we emphasise that decisions on risk factors should have regard to, and be consistent with, the objectives of the scheme.  The Society is in favour of a risk equalisation system that encourages competition and new insurers.  It would not be necessary to allow for health status in such

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