News

The Society has issued a press release highlighting that a sharp decline in female performance at the highest level in Leaving Certificate Higher Level Mathematics since 2012 is likely to create a gender imbalance in STEM careers and in female access to high-points third level courses generally.  This is according to a report prepared by the Society's Gender Pipeline Working Group.

The SAI's Diversity and Inclusion (D&I) Committee organised a pilot Transition Year Work Experience program (the “SAI TY program”) with the aim of introducing the actuarial profession to students from diverse backgrounds. The aim of the program was to reach students who would not normally have access to this type of experience. 

The SAI TY program is an interactive 4-day program for transition year students run by Susan HayesCulleton of The Positive Economist and Savvy Teen Academy, in collaboration with volunteers from the D&I Committee and sponsoring employers.

The Society has made a submitted views to the Pensions Council  on the gender gap in supplementary pensions. The Society submission is here.

Response to HIA Consultation on community-rated health insurance market in Ireland and proposed changes to the Risk Equalisation Scheme [which is in response to this HIA consultation].

The Society has today issued a press release on Ireland's Risk Equalisation system following its healthcare seminar today which brought together international and domestic experts to discuss how cross subsidies in the health insurance market can be modified in the future.

Click here to read the full press release

The Society made a submission to the recent Health Insurance Authority consultation on Lifetime Community Rating, and has issued a press release which highlights the key finding in the submission.  

The growth in ‘Average Private Health Insurance Premiums’ in Ireland has consistently outstripped economic growth over time and is expected to continue to be in excess of economic growth in the future.  This is one of the conclusions in an analysis published today (Nov 10, 2016 ) by the Society.

Read the full paper here.

The press release is available here.

The European Insurance and Occupational Pensions Authority (EIOPA) has published a Good Practices Report on transferability of supplementary pension rights. With this Report, EIOPA identifies the main impediments to cross-border and national transfers as well as a number of good practices to overcome these. This would create more transparency in the interest of consumers and facilitate the internal market for supplementary pension rights.

EIOPA outlines three key areas which – if addressed – could significantly facilitate the transferability of supplementary pension rights:

The Society has decided to commission an analysis of the financial sustainability of the State Pension in Ireland.  In particular, the research will focus on the key levers (and associated parameters) that could be flexed when considering the sustainability of the State Pension. 

Pensions Council

The Society of Actuaries in Ireland welcomes the Tánaiste’s announcement of the membership of the Pensions Council. 

The Council’s function is to advise the Minister for Social Protection on matters of pensions policy.  Including Brendan Kennedy, Chief Executive of the Pensions Authority, the twelve-person Council includes five of the Society’s Fellow members – the others being Roma Burke, Tony Gilhawley, Sandra Rockett and Dr Shane Whelan – each of whom has a wealth of skills, knowledge and experience to offer. 

The Society has today issued a press release welcoming the Government’s decision to establish an expert group to formulate plans for a universal retirement savings scheme for private-sector workers. 

On 10th October 2014, the European Commission adopted a Delegated Act containing implementing rules for Solvency II. This will enter into force once the European Parliament and Council have both approved it, following their scrutiny, for which a maximum period of 6 months can be taken.