Resources for SA4

To access ebooks please log in to your member portal

Title links lead to book details on the IFoA Library catalogue. From there, IFoA members and students can 'Request' the book from the IFoA Library Service, subject to availability. Members can also follow the ‘Access eBook’ links below after logging in through the member portal.  

SA4 core reading for the current year is the key study reference for this exam and is available from the IFoA e-shop.

Students may also work with study guides and course materials for this exam from an IFoA recognised tuition provider.

The following additional resources will give you a different viewpoint on topics presented in SA4

Actuarial Standards

The Financial Reporting Council (FRC) is responsible for the setting of technical actuarial standards:

• Technical Actuarial Standards (TASs)

The Institute and Faculty of Actuaries is responsible for the setting of ethical actuarial standards:

• The Actuaries' Code
• Actuarial Profession Standards
• Actuarial Quality Framework

Books

• Fundamentals of private pensions. 9th ed. McGill, D.M. et al. Oxford University Press, 2010.  ISBN 9780199544516.
  Good governance for pension schemes. Thornton, P.; Fleming, D. Cambridge University Press, 2011. ISBN 9780521761611.
  Access eBook after member login

Articles and papers

These article and paper references from Unit 16 of SA4 Core Reading 2020 are listed alphabetically by title. Title links are to papers first presented to IFoA sessional research meetings or to Staple Inn Actuarial Society (SIAS) papers. Papers subsequently published in British Actuarial Journal (BAJ) and Journal of the Institute of Actuaries show their permanent 'DOI' links to the JIA and BAJ, as published by Cambridge Core.

Members can access the following BAJ papers from the links below once they have logged into their member portal.

• Actuaries, pension funds and investment. Arthur, T. G.; Randall, P. A. 
  JIA (1990) 117: 1-49. DOI: https://doi.org/10.1017/S0020268100043018
• A central discontinuance fund for pension schemes. Black, J. M.; Booth, G.; Cooper, D. R. et al. SIAS, 1999. 34 pages.
• Extending retirement choices. Retirement income options for modern needs. Retirement Choices Working Party. Faculty and Institute of Actuaries, 2001. 39 pages.
• The financial theory of defined benefit pension schemes. Exley, J.; Mehta, S. J. B.; Smith, A. D. 
  BAJ (1997) 3(4): 835-966. DOI https://doi.org/10.1017/S135732170000516X
• Liability driven benchmarks for UK defined benefit pension schemes. Chambers, A. J.; Barnes, A. E.; Barnes, M. et al. 2005 Finance & Investment Conference. 56 pages
• Longevity in the 21st century. Willets, R C; Gallop, A P; Leandro, P A et al. 
  BAJ (2004) 10(4) 685-832 and 878-898. DOI https://doi.org/10.1017/S135732170000516X
• Matching and portfolio selection: Part 1 and Part 2. Wise, A. J.
  JIA (1987) 114: 113-133 DOI https://doi.org/10.1017/S0020268100019028)
  JIA (1987) 114:551-568 DOI https://doi.org/10.1017/S0020268100019193)
• The matching of assets to liabilities. Wise, A. J. 
  JIA (1984) 111: 445-501. DOI https://doi.org/10.1017/S0020268100041858)
• A note on pension scheme design issues. Faculty of Actuaries Pensions Research Group, 2002. 10 pages.
• Note on the relationship between pension assets and liabilities. Speed, C. A.; Bowie, D. C.; Exley, J. et al. SIAS, 2003. 26 pages.
• Pension fund valuations and market values. Head, S. J.; Adkins, D. R.; Cairns, A. J. G.et al. 
  BAJ (2000) 6(1): 55-141. DOI https://doi.org/10.1017/S1357321700000830
• Pensions and low inflation. Meredith, P. M. C.; Horsfall, N. P.; Harrison, J. M. et al. 
  BAJ (2000) 6(3): 547-619. DOI https://doi.org/10.1017/S1357321700001896
• Pensions, funding and risk. Chapman, R. J.; Gordon, T. J.; Speed, C. A. 
  BAJ (2001) 7(4): 605-686. DOI: https://doi.org/10.1017/S1357321700002488
• Reinventing annuities. Wadsworth, M. J.; Findlater, A. J. M.; Boardman, T. V. SIAS, 2001. 77 pages.
• Risk budgeting in pension investment. Urwin, R. C.; Breban, S. J.; Hodgson, T. M. et al. 
  BAJ (2001) 7(3): 319-364. DOI: https://doi.org/10.1017/S1357321700002385
• The role and responsibilities of actuaries in the defined contribution environment in the United Kingdom. Stocker, M. A.; Dudley, S. D.; Finlay, G. E. et al. 
  BAJ (1999) 5(4): 763-800. DOI https://doi.org/10.1017/S1357321700000659
• The role of high yield corporate debt in pension schemes. Sweeting, P. J. SIAS, 2002. 54 pages.
• Sponsor Covenant Working Party Final Report – Allowing for the Sponsor Covenant in Actuarial Advice. November 2005. 40 pages
• Submission on the relationship between pension assets and liabilities. Hill, J. SIAS, 2003. 6 pages.

Other sources

• Guidance for trustees. The Pensions Regulator.