News

Practice Area

Publication Type

13 Jan 2012

Society responds to consultation on EU-wide legislative framework for IORPs

In April 2011, the European Commission asked EIOPA  for advice on the EU-wide legislative framework for IORPs (Institutions for Occupational Retirement Provision).

Read more
06 Dec 2011

Groupe Consultatif says that consumers will suffer if antidiscrimination goes too far with insurance

Brussels - It is in the interest of consumers that insurance markets provide affordable and accessible insurance. However, if risk factors such as age and disability should be ruled discriminatory, as was the case for gender in the landmark ruling of the European Court of Justice in March 2011, certain types of insurance cover could become unavailable, according to the Groupe Consultatif Actuariel Européen.

Read more
17 Nov 2011

Society publishes Position Paper on Taxation of Private Pension Provision

The Society of Actuaries in Ireland has published a position paper on “Taxation of Private Pension Provision”. 

The primary purpose of the paper is to examine the effect of reducing the tax relief on pension contributions made by individuals.

Individuals currently receive tax relief at their marginal income tax rate on pension contributions.  The National Recovery Plan 2011-2014 proposes to change the tax relief from the individual’s marginal tax rate to the standard tax rate of 20% by 2014.

Read more
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.  

Read more
01 Mar 2011

Society responds to consultation on Impact Metrics for Risk Based Supervision

The Society of Actuaries in Ireland has responded to a “Consultation on Impact Metrics for the Risk Based Supervision of Financial Firms by the Central Bank and on Impact Based Levies”.

Read more
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. 

Read more
25 Nov 2010

IAA Releases Note on Internal Models

IAA News Release:

The International Actuarial Association is pleased to announce the completion of the paper Note on the Use of Internal Models for Risk and Capital Management Purposes by the Solvency Subcommittee of the Insurance Regulation Committee.

Read more
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.

Read more
23 Nov 2010

Society submits comments to European Commission on Insurance Guarantee Scheme

The Society has responded to a European Commission consultation on insurance guarantee schemes.
 
Consultation documents
 
Submission

Read more
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.

Read more
08 Nov 2010

Sovereign Annuities

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

Read more