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.

SAI response to Dept. of Finance consultation on Funds Sector 2030

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.

Investment Approaches to AE : Submission to the Department of Social Protection

The Terms of Reference of the Finance & Investment Committee state, inter alia, that:

“The Committee shall annually review the base financial & economic assumptions for use by Practice Committees in setting assumptions in ASPs and make recommendations to Council”.

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.

EIOPA Press Release:

The European Insurance and Occupational Pensions Authority (EIOPA) has published its Survey of EU practice on default investment options.

The survey was conducted as a follow up to EIOPA advice to the European Commission on the review of the IORP Directive, which stated that:

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on Guidelines on preparing for Solvency II.

The Pensions Board has published investment guidelines for trustees of defined contribution pension schemes. These guidelines aim to help trustees in deciding which investment choices to make available for scheme members.

Commenting on the guidelines, the Chief Executive of The Pensions Board, Brendan Kennedy, said:

The Groupe Consultatif Actuariel Européen has published a paper titled “Comparison of the Regulatory Approach in Insurance and Banking in the Context of Solvency II”.  The principal author is Mairead O’Shea, a Fellow of the Society of Actuaries in Ireland. 

“Executive Summary