21 November 2025
Ahead of the UK Chancellor Rachel Reeves' Autumn Budget being delivered on Wednesday, 26th November, Paul Sweeting, President at the Institute and Faculty of Actuaries, said:
“The most successful and effective interventions on pensions policy have always had long-termism at their heart. It is therefore important that the Chancellor takes a long-term approach to changes to the pension system in the UK.
“The recent establishment of both a Pensions Commission and the new review of the State Pension age provides an opportunity to embed the long-term building blocks needed to support savers in achieving an adequate retirement, both now and in the future. This foundation for long-term sustainability needs to ensure fairness between generations and not be inadvertently undermined by short-term budgetary decisions.”
~ENDS~
Sonia Sequeira, Communications Lead, IFoA
Tel: 07525 592 198
Email: sonia.sequeira@actuaries.org.uk
Hannah Patmore, Communications Manager, IFoA
Tel: 07519106714
Email: hannah.patmore@actuaries.org.uk
The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.
Research undertaken by the IFoA is not commercial. As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest.
Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s of London.
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