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Pensions: The problems of today and tomorrow. A summary of the Report published by the Institute of Actuaries and of the discussion at Staple Inn on 11 June 1985

Published online by Cambridge University Press:  20 April 2012

S. Haberman
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Extract

From the very outset of the formation of pensions schemes in the United Kingdom, actuaries have been involved in their design, investment, valuation and solvency. A review of issues of the Journal of the Institute of Actuaries in England and the Transactions of the Faculty of Actuaries in Scotland over the last 40 years would show how schemes have become more complicated and more comprehensive, how the economic and equity problems have increased and how the actuarial profession has successfully adapted its theory and practice to accommodate change. After World War II the rapid growth in occupational pension schemes together with the post-Beveridge expansion in State social security led to concerns about the overall effect on the national economy. As a consequence, in 1954 a report on “The growth of pension rights and their impact on the national economy” was presented to both the Institute and the Faculty of Actuaries by Bernard Benjamin, Francis Bacon and Donald Elphinstone.

Type
Review Article
Information
Journal of the Institute of Actuaries , Volume 112 , Issue 3 , December 1985 , pp. 407 - 419
Copyright
Copyright © Institute and Faculty of Actuaries 1985

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References

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