Last month Dr Geraldine Kaye and Kerry Lofts ran GAAPS annual CV and Interview skills workshops at LSE Actuarial Society. It is always a pleasure in my line of work to help those just starting out along the long road of Actuarial exams.
This year’s students were thoroughly engaged, asking fantastic questions whilst we dissected their CVs and naturally we were also delighted to receive such positive feedback from the LSE Actuarial Society, with all students giving us 100% on their feedback sheets.
So, thanks again to everyone who attended the workshop. It was a pleasure meeting you all and we look forward to seeing you again next year.
GAAPS Actuarial is one of the most respected specialist Actuarial Recruitment Consultancies worldwide, and has earned a reputation for providing an efficient executive service to both candidates and employers.
Posted in Actuarial Exams, Actuarial Qualifications, Actuarial Societies, Careers Events, Events
Tagged actuarial, actuarial events, actuarial exams, actuarial profession, Careers, Education, GAAPS
50 business leaders, academics and MSPs met at the Scottish Parliament to celebrate the opening of the new Actuarial Research Centre (ARC) earlier this month.
Mark McDonald, MSP welcomed the audience and outlined some of the areas where the profession has already been interacting with politicians. He also said that they would welcome any input from the profession, which aligned to their public affairs objective.
The centre is set up in the same month that marks 250 years since the birth of actuarial work in life offices. The first Director of the ARC, Professor Andrew Cairns spoke of his vision for the centre, collaborating with business, developing academic disciplines and researchers that will be an asset to industry.
The BBC has reported that the mortality rate in England and Wales improved again last year. This could have a knock-on effect on pensions, actuaries have suggested. The number of deaths fell to 484,000, according to official figures.
After examining the figures the Actuarial Profession said the death rate fell by 4% – down from an average annual drop of 2.4% in the previous decade.
Falling death rates would inevitably make it more expensive to fund pension schemes. Last year was the third in a row in which deaths had been below 500,000.
The figures – from the Office for National Statistics (ONS) – suggest that 20,000 fewer people died in 2011 than would have done in previous years.
Punter Southall’s head of mortality research, Ross Matthews, said: “If the 2011 fall in mortality rates continued, a man of 65 retiring today could expect to live to 91, three years longer than the typical current estimate of 88.”
“A 45-year-old would live to 95, seven years longer. This equates to an increase of up to 15% on pension scheme liabilities, potentially driving deficits by up to 50%”.
But Gordon Sharp, of the Actuarial Profession, warned that death rates could be volatile from year to year, and said that not too much should be read into one year’s provisional improvement.
The new insurance industry code of conduct for annuities is a step in the right direction. However, more needs to be done to encourage pension scheme members to shop around for the best deal, according to Paul Marco, head of defined contributions at Mercer retirment business in the UK.
In an interview with The Actuary Magazine he said that ‘most people didn’t know where to start when shopping around for annuities and as such were likely to just stay with their current provider. The code tells providers not to rely on customer inertia, however this is incredibly difficult to police. By offering members a range of market-based quotes up front, and not just a quote from the sitting insurer, the member’s chances of purchasing a far better annuity are greatly improved.’
In particular, Mercer said that, as well as encouraging members to shop around, customers should also be told that quotes from the sitting insurer are unlikely to be the best available in the market. ‘This needs to be prominent, rather than tucked away at the end or buried in the small print,’ he said.
‘Although the code itself is a positive development it is very disappointing that compliance with it is not being made mandatory earlier than March 2013. In the meantime 1000’s of retirees will be losing £100’s or £1000’s of pounds a year in income for the rest of their lives’
Finally Mercer called on the government to use the introduction of auto-enrolment later in the year as an opportunity to look at making the provision of an annuity broking service a key aspect of what a good workplace pension plan offers.
It was another successful dinner at this months Argonauts Club and it was my pleasure to bring along guests Sandeep Varma, Samantha Hu and Richard Hartigan who reported to me that they all had an enjoyable evening.
We had two guest speakers; the first was Martin Shaw a partner of Midas Charity Appeal. He gave a thought-provoking talk on ‘Investing in charities a good idea or not?’ it is true that charities and their Guerrilla style tactics have earned them some bad press but we must take a step back and look at how we can support the sector. Martin made some interesting observations on this topic.
Our second speaker of the evening was Jane Curtis, the first lady President of the Institute and Faculty of Actuaries with her talk, ‘Public affairs: the problem with keeping everyone happy.’ Both speakers were excellent, after the speeches everyone enjoyed after dinner drinks in the Court Dinning Room.
After such a great night we will all be looking forward to our next dinner on the 17th May at The Ivy.
To find out more information on joining the Argonauts Club contact Geraldine Kaye on 020 7397 620 or email email@example.com and mark your e-mail ‘Argonauts’
Posted in Actuarial Sectors, Actuarial Societies, Argonauts, Careers Events, Events, Networking, news
Tagged actuarial, actuarial events, actuarial profession, Actuaries, Actuary, acturarial profession, Argonauts, Dinner, Events, GAAPS, Networking, news, The Actuarial Profession, The Ivy
GAAPS Actuarial and Imperial College Business School are organising an information session that will give you a chance to hear about the pathways to becoming an Actuary and provide an opportunity to meet actuarial employers.
18.15: Welcome and Introduction to the profession from GAAPS Actuarial
19.00: Drinks reception
Imperial College Business School, Tanaka Building, South Kensington Campus,
London SW7 2AZ
Register for the event
GAAPS are pleased to announce that Chaim Coutts received very positive feedback from delegates to the GIRO conference for both the presentation and content of his popular workshop on talent management.
A number of delegates commented on the good use of speakers from outside the profession and indicated that they would like this to be encouraged in the future. There was even a request for the 2010 Plenary to include another session on talent management within the non-life sector. Clearly a sign of Chaim’s success.
Search for actuarial jobs
GAAPS are organising an Actuarial Careers Fair at Heriot-Watt next week.
The fair will be on Wednesday 4th November from 1pm and will be attended by leading actuarial recruiters providing a unique opportunity to candidates to meet face to face with employers and find out first hand what the top actuarial employers are looking for.
GAAPS Actuarial has regularly organised careers fairs for candidates since 2002 and we consider this to be our way of giving something back to the Profession.
Sign up on Facebook
Heriot Watt Careers
As a committee member and someone who thoroughly enjoyed and learnt a lot from the last IAA AFIR / Life colloquium I would like to encourage more people to join the IAA.
To become a member all you need to do is click the relevant box when you fill your membership subs form for whichever act governing body you belong to.
The formal sessions allow you to learn what is going on in other countries in your own area so that you obtain a wider rather than a parochial view.
The networking sessions, as well as being enjoyable, allow you to discuss the details of the formal sessions in a more informal setting, again enabling you to gain a far greater insight
There is a saying a problem shared is a problem halved, sharing a problem internationally reduces well below the 50% level!
For more information about IAA Life Section
To search for international actuarial jobs
Last night, lots of fun and dancing was had by all the actuaries at Murreyfield, the home of Scottish Rugby.
Chaim Coutt’s workshop on talent management was a big success. Watch this space for a video.
For videos of previous GAAPS events visit our channel on YouTube.