News

Every 4 years, member associations of the IAA organise an International Congress of Actuaries and welcome actuaries from all disciplines and from around the world.  The next Congress will be held in Washington from 30th March – 4th April 2014. The theme of the 2014 Congress is Learn, Interact, Grow.

For further information on the event, see www.ica2014.org/about.

The Institute and Faculty of Actuaries Longevity Bulletin aims to provide a regular overview of research into longevity trends and a guide to prospects for long life.  It presents and explains actuarial perspectives on population longevity and looks beyond the actuarial world for statistics, research and the latest thinking on related subjects.   Longevity Bulletin is published every six months.  Issue 03 is now available.

Background
The Society seeks to make an impartial contribution to public debate on social policy and public interest matters where an actuarial perspective can add value.  In this context, the Society has decided to commission research as set out below.

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

Paul O'Faherty presented his Presidential Address on 22nd September.

Paul chose the theme of “Relevance in a time of change and turmoil” and opened by asking the question, “Through all the economic turmoil in Ireland, it’s certainly worth asking ourselves individually and collectively as actuaries - how relevant have we been in these most difficult of times?”