Due to the roles that we fulfil, and our professional obligations to put public interests ahead of our individual interests, we as actuaries are uniquely placed to consider the long-term impacts of changes to our investment landscapes.
The CMI Mortality Projections Committee (MPC) will chair a discussion about future mortality improvements, in conjunction with the Staple Inn Actuarial Society (SIAS).
Actuaries are widely recognised as problem solvers and strategic thinkers, who use their mathematical skills to measure the probability and risk of future events. They excel at using their analytical skills to predict the financial impact of these potential future events. Faced with increasing economic uncertainties and societal complexities, businesses, government and communities increasingly depend on the skills of actuaries to make sense of the future.
The pensions system in the UK and many other countries was set up at a time when expectations over life expectancy, investment returns, inflation and general views on government and companies were all vastly different from where we are today. Adjustments over time go some way to address these changes but generally have other unintended consequences and our current system is unlikely where we would have ended up if we had designed something holistic from scratch.
Enterprises are increasingly at risk of suffering financial losses from a cyber event. In line with this, Cyber Operational Risk is an increasingly important area for all IFoA practice areas and organisations regardless of the current escalation of geopolitical tensions.