The IFoA has been making an effort to build strong relationships with stakeholders in Westminster, including Work and Pensions Committee members. This has progressed during the past year, with Simon Eagle, chair of the Collective Defined Contribution (CDC) Pensions Working Party, giving evidence to the Committee in December 2021, and Pensions Board chair Leah Evans doing so in March 2022. The sessions’ subjects ranged from CDC for pension savers to examining required changes to pension products as part of a wider inquiry into later-life savings.
Leah again attended the Work and Pensions Committee on 23 November 2022 to give evidence on defined benefit (DB) pensions and liability-driven investing. The Committee opened an inquiry to investigate the reasons for, and ascertain the lessons learned from, market instability of gilt yields on DB pensions in autumn 2022. Leah was joined by witnesses from the Association of Consulting Actuaries, the Pensions Policy Institute, and Lane, Clark and Peacock LLP as she gave her actuarial perspective.
View the recording at bit.ly/Work_pensions_23Nov22