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.

The attached was submitted in response to the Public Consultation on Revision of Death Registration Process from the Department of Social Protection https://www.gov.ie/en/consultation/aa3b2-public-consultation-on-revision-of-death-registration-process/

The European Insurance and Occupational Pensions Authority (EIOPA) published today a potential macroprudential approach to the low interest rate environment in the Solvency II context.
The aim of this publication is to contribute to the discussion on the possible need to develop a macroprudential framework in the insurance sector to promote financial stability in a Solvency II environment.
 
The following three objectives to be targeted by supervisory authorities in the current low interest rate environment are addressed:

The Central Bank of Ireland has published a feedback statement on Consultation Paper 92 Domestic Actuarial Regime and related Governance Requirements under Solvency II.

The consultation period closed on 29 May 2015.

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 International Actuarial Association (IAA) is pleased to announce the publication of the paper “Deriving Value from ORSA - Board Perspective” developed by the Joint ORSA Subcommittee of the IAA’s Insurance Regulation and Enterprise and Financial Risk Committees.

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.