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The Actuary The magazine of the Institute & Faculty of Actuaries
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MPs not confident in actuaries

Last month saw the publication of the report of the Treasury Select Committee (TSC) on restoring confidence in long-term savings (see www.publications.parliament.uk/pa/cm200304/cmselect/cmtreasy/71/7102.htm) which roundly allocated blame for the present state of affairs on a wide range of parties, including to a degree the actuarial profession. At the heart of the TSC’s recommended changes was a simpler approach to making customers aware of the degree of risk associated with particular types of product.