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The Actuary The magazine of the Institute & Faculty of Actuaries

Research project grant on funding for long-term care

The Actuarial Profession is pleased to announce the award of a research grant in response to its call for proposals for a project on funding for long-term care. Many of the financial drivers for the successful delivery of care in the future are related to the core actuarial skills in managing long-term risks, and the Profession wishes to play its part in the public interest by working collaboratively with other bodies and disciplines to develop those long term solutions. To that end, the Profession identified two initial work streams to pursue:

Phase one: an in-depth review of the international literature in the area of long-term care and the various means of funding it and then producing an analysis of any gaps in topics relating to long-term care in the published or publicly available material.

Phase two: once phase one is completed, the Profession will review the data available with the possibility of developing new data-capturing analyses. This may lead to a separate call for research later in 2011.

An international team formed by the University of Southampton comprising actuaries, researchers and organisations, led by Doug Andrews from Southampton, has been awarded the funding for phase one. 
The team are due to report by 30 September and a presentation will also be made on 18 October at an event jointly hosted by the Actuarial Profession and the International Longevity Centre — UK.

For further information on this project contact pauline.simpson@actuaries.org.uk