News

The Minister for Social & Family Affairs has approved a change in the Society’s Actuarial Standard of Practice on Retirement Benefit Schemes Transfer Values.  The pre-retirement discount rate in the standard transfer value basis set out in the ASP will reduce from 7.75% to 7.5% per annum with effect from 1st March 2010. 

CEIOPS  has published its third and final set of Advice on Solvency II Level 2 Implementing Measures following formal approval by CEIOPS Members, together with a

CEIOPS has published its Solvency II consultation paper on the Pre-Application Process for Internal Models.

CEIOPS Members have agreed to set up a specialized Task Force led by the CEIOPS Secretariat to deliver on the 5th Quantitative Impact Study (QIS 5), the final Quantitative Impact Study under Solvency II.

The Government announced last year that a Pensions Insolvency Payments Scheme would be established “to assist employees and former employees of companies where the employer becomes insolvent and the defined benefit pension fund is in deficit.

The Society of Actuaries in Ireland carried out a study of annuitant mortality during 2008/'09, based on data contributed by a number of life assurance companies.  The results are set out in the attached report.  The Society would like to thank the participating companies for their assistance with this study.

Following approval by its Members on 30 October 2009, CEIOPS has delivered its final advice on the vast majority of Solvency II Level 2 Implementing Measures together with a cover letter and a