The Society of Actuaries in Ireland has today issued a press release warning that the new information disclosure regime for consumers under European PRIIPs (Packaged Retail Investment and Insurance Products) regulations has the potential to be misleading.  We have called for changes when the new regime is next reviewed.  The press release is available here.

The Society recently submitted a response to the Central Bank of Ireland Consultation Paper (CP114) on Amendments to the Non-Life Insurance (Provision of Information) (Renewal of Policy of Insurance) Regulations 2007.

The response is available to read on our website here https://web.actuaries.ie/press/submissions

The 2017 edition of the OECD’s biennial report Pensions at a Glance has been published.  This sets out the pension reforms undertaken by OECD countries over the last two years; the only reform noted for Ireland is the termination of the pensions levy.

The December 2017 SAI Newsletter is now availble .   This edition includes the following articles as well as some photos:

In November 2011, the Society published a Position Paper on the Taxation of Private Pension Provision.  This paper was intended as a contribution to the discussion on the proposal which had been made by Government at the time (as part of the National Recovery Plan) to reduce the rate of tax relief granted in respect of contributions to private pensions from the marginal rate to the standard rate of income tax.  The Society has recently reviewed this paper, following comments received from a member, and has decided that it would be appropriate to issue a supplementary note to clari

The Central Bank of Ireland has published S.I. 392 of 2017, which amends the Life Assurance (Provision of Information) Regulations 2001. The Life Assurance (Provision of Information) Regulations (Amendment) Regulations 2017 amend Regulation 7 of the Life Assurance (Provision of Information) Regulations 2001 due to the coming into effect of the EU Regulation on key information documents for packaged retail and insurance-based investment products (the PRIIPs Regulation) on 1 January 2018.

The Actuarial Association of Europe (AAE) has published a new European Standard of Actuarial Practice (ESAP 3) on “Actuarial practice in relation to the ORSA process under Solvency II”.

This is a model standard, suitable for adoption or adaptation by Full Member Associations of the AAE and other actuarial standard-setting organisations.  It is the AAE’s intent that, by publishing model standards, it will encourage the creation and convergence of national actuarial standards.  

The Actuarial Association of Europe has today issued a Press Release on the European Commission’s proposal for an EU Regulation for a Pan-European Personal Pension (PEPP).

 

Click here to read the full Press Release.

The May 2017 edition of the SAI Newsletter is now available.  This edition features articles on:

• Biennial Dinner
• Member Support Service
• Diversity
• ERM Forum

Click here to read the latest Newsletter!

The Actuarial Association of Europe has issued its latest edition of 'The European Actuary' magazine.

Click here to read the latest edition.