Climate change is a major challenge for society, with the potential to affect all pension schemes in multiple ways. When advising clients, legislation, regulation and other market pressures increasingly require climate change to be considered. But while ESG is a familiar consideration in the investment area, pension scheme actuaries may be less familiar with thinking about climate change when speaking to trustees and employers.
With out-of-pocket expenditure exceeding 60% in some countries across Sub-Saharan Africa, there is value in universal health coverage (UHC) solutions that are equitable, provide quality care and reduce the financial burden on individuals. However, with low levels of healthcare infrastructure, high medical inflation and a predominantly informal sector, there is a question as to whether UHC is even possible for Sub-Saharan African nations.
In April 2022, China's personal pensions system has been officially announced. As the third pillar of the government-supported pensions system, this system has attracted a lot of attention. On 25 November 2022, the Ministry of Human Resources and Social Security of China announced the official implementation of the personal pensions system, which has once again become a hot topic nationwide.
In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. In this webinar we investigate the performance of a defined benefit-like CDC scheme, by considering the income paid out in retirement to the scheme members. This builds on our previous webinar, which explained the different types of investment risk-sharing in such a CDC scheme.
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