News

The Actuarial Association of Europe represents actuarial associations across Europe.  It currently has 36 member associations in 35 European countries, representing over 22,000 actuaries. 

AAE publications on topics relating to insurance, pensions and investment and financial risk can be accessed here.

Recent publications include:

The November edition of our SAI Newsletter is now available.  This edition features articles on:

• Exploring the Wider World
• UCD BAFS Degree
• Submission to the Pensions Authority on pensions reform
• Guidance on Head of Actuarial Function
• Professional Regulation Framework
• Risk Managment Perspectives Conference
• SAI Student Committee and Events

Click here to read the latest SAI Newsletter

The Central Bank has today published Guidance for (Re)Insurance Undertakings on the Head of Actuarial Function Role.

A Feedback Statement on the Central Bank’s consultation on an earlier draft has also been published, along with copies of the submissions made by the Society and other entities. 

For the last 6 years, the Actuarial Association of Europe (AAE) and the International Actuarial Association (IAA) have organized a discussion forum together with two important international bodies - the International Labour Organization (ILO), and the International Social Security Association (ISSA). The purpose of this forum is to exchange views on current projects and issues, and to seek further areas of collaboration - all to help improve the soundness of decisions being made on societal issues having a global impact.

The Pensions Authority has today published the final two codes in the series of Codes of Governance for Defined Contribution (DC) Schemes.
 
The codes of governance set out the standards that trustees will be expected to adopt to demonstrate their commitment to serving the best interests of members and beneficiaries.

The latest codes relate to:

The Actuarial Association of Europe has issued a new edition of 'The European Actuary' magazine.

Click here to read the latest edition.

Draft legislation designed to protect retail investors was rejected by MEPs on Wednesday as so “flawed and misleading” that it could actually lose them money. Unusually, it will be returned to the EU Commission for revision.

MEPs passed a resolution calling for changes .to legislation on “packaged retail and insurance-based investment products” (PRIIPs) -- a market worth up to €10 trillion in Europe - by 602 votes to 4, with 12 abstentions.

Retail investors typically use PRIIPs to generate funds to pay a mortgage or for their children’s education.

Parliament’s Economic and Monetary Committee rejected as “misleading” and flawed, proposals aimed at providing greater protection to consumers buying packaged financial products, and unanimously voted to send the proposals back to the European Commission.

The Pensions Authority has issued a consultation document which sets out a package of proposals to reform and simplify supplementary private pension provision in Ireland.

‘The Future of the State Pension’ was the theme of a major conference hosted today by the Society of Actuaries in Ireland. The conference follows the publication last year of a research report by Milliman on the financial sustainability of the state pension in Ireland. The Society of Actuaries in Ireland and PublicPolicy.ie commissioned this research with a view to stimulating constructive debate on this subject.

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its Opinion on a Common Framework for Risk Assessment and Transparency for Institutions for Occupational Retirement Provision (IORPs).

The Opinion concludes a cycle of almost three years of EIOPA's own-initiative work and is addressed to the EU co-legislators (European Parliament and Council) and the European Commission.

The European Insurance and Occupational Pensions Authority (EIOPA) has published Preparatory Guidelines on Product Oversight and Governance (POG) arrangements to be followed by insurers (manufacturers of insurance products) and distributors.

These Guidelines provide early guidance and support national authorities and market participants with the implementation of POG requirements in preparation for formal requirements provided for in the Insurance Distribution Directive (IDD).