News

The International Actuarial Association (IAA) approved its first International Standard of Actuarial Practice, ISAP 1, on General Actuarial Practice, at its Council meeting in November 2012.  An ISAP is a model standard which the IAA encourages actuarial standard-setting bodies to consider.   

Description

Issue four of the Institute and Faculty of Actuaries Longevity Bulletin explores the data that evidences that we are all living longer but questions how healthy we are during those extra years.

From Philip Scott, President of the Institute and Faculty:

"In the past longer life was generally driven by better health. However data collected over the last twenty years highlights that life expectancy and healthy life expectancy are not one and the same.

From the International Actuarial Association:

The Society of Actuaries in Ireland has decided to establish a "Wider Fields" Member Interest Group.
 
This will be similar to the UK Actuarial Profession's Resource and Environment Member Interest Group (see http://www.actuaries.org.uk/members/pages/resource-and-environment-memb…) except that it will have a wider remit.
 

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.

The Continuous Mortality Investigation (CMI) carries out research into mortality and morbidity experience, based on data supplied by UK life assurance companies and actuarial consultancies. 

The CMI has published Working Paper 62, which presents a preliminary analysis of the mortality experience under large self-administered pension schemes for the period 2003 to 2010.

Further information  

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.