Pension specialists from the Government Actuary’s Department
(GAD) have been sharing their expertise at a key industry
conference.
Actuaries Michael Scanlon and Fatima Kamran have delivered
seminars at the Association of Consulting
Actuaries (ACA) conference.
Multi-employer schemes
In examining the UK’s multi-employer schemes, Michael looked at
the approaches used by different schemes. He also considered how
the underlying objectives might affect the approach adopted for
different types of risk.
Multi-employer schemes can include both public sector schemes
(advised by GAD) and private sector schemes, many of which are
advised by ACA members.
These schemes use different approaches for managing
cross-subsidies between employers. This includes segregation,
employer payments on benefit augmentation and benefit design
structure.
Topical issues
Fatima and colleagues Barker and Samanta Padalino
from the Department for Work and Pensions (DWP), covered some
topical issues in DWP.
These included the Pension Schemes Bill, Collective Defined
Contribution Schemes and Superfunds. These were of interest to
the actuaries and were the theme of a number of seminars at the
conference.
Superfunds and pensions
Reflecting on the event, Fatima said “Being my first
conference, it was an amazing experience. It was
interesting to see the level of interest in superfunds and
again, it shows the far-reaching effects GAD’s advice has
on the wider industry”.
Michael added: “It was very helpful to share experiences
with delegates on issues that affect both public sector and
private sector schemes.”
Industry body
The ACA is the world’s largest national grouping of
consulting actuaries. It represents members who provide
advice to most of the country’s largest schemes as well as
thousands of employers and pension schemes.
