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The Actuary July 2014

Issue date: July 2014

In this issue...

Independent DC audit panel issues progress report

The independent panel convened to probe the defined contribution pensions market has confirmed it will review all workplace pensions sold before 2001 and all post-2001 DC plans sold with fees over 1% per annum.
Thursday 31st July 2014
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Towers Watson: value of 'at-retirement' market set to hit £50bn

The UK ‘at retirement’ market will triple to £50bn by 2023, pushed by substantial annuity sales, according to analysis by Towers Watson.
Friday 25th July 2014
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IFoA and FRC issue statement on actuarial standards

The Institute and Faculty of Actuaries (IFoA) and the Financial Reporting Council (FRC) have issued a joint statement on actuarial standards.
Thursday 24th July 2014
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TPR renews pension liberation fraud warning

The Pensions Regulator has refreshed its hard-hitting Scorpion campaign to tackle the nearly-£500m pension liberation scam problem.
Thursday 24th July 2014
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Insured natural catastrophe losses down on last year

Insured losses from global natural disasters in the first half of 2014 reached $22bn, down $5bn on last year, according to Aon Benfield's monthly Global Catastrophe Recap report.
Thursday 24th July 2014
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Treasury's infrastructure investment guide 'of interest to insurers'

Actuaries have said that the latest government guide to investing in UK infrastructures assets will be of welcome interest to UK life insurers who are keen help boost the economy and improve yields on their assets.
Wednesday 23rd July 2014
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Webb cuts deferred state pension increase to 5.8%

The state pension enhancement enjoyed by people who choose to defer taking the payment is to be cut by almost half, the government announced today.
Tuesday 22nd July 2014
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Osborne promises pension savers independent advice

Millions of pension savers are receive free and impartial guidance on their retirement options from independent organisations rather than scheme providers, the government announced today.
Monday 21st July 2014
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Healthy outlook for Malaysian insurance, says Fitch

Fitch Ratings expects the attractive growth prospects in Malaysia’s insurance industry to continue to bring in more foreign investors ahead of market liberalisation.
Friday 18th July 2014
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One in ten pensioners 'are millionaires', Prudential finds

Over a million of pensioner households in the UK now have a total wealth of more than £1m, according to analysis by Prudential.
Friday 18th July 2014
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