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The sessional meeting will provide feedback from the FSB. Discussion will include various industry statistics, the status with regard to Twin Peaks, the importance of TCF and the latest FSB Appeal Board rulings.
You may have been accustomed to “Treating Customers Fairly” (TCF). Recently, Council has agreed to replace the TCF Committee with the “Market Conduct Committee”. The focus of the Committee is to actively support the development and thought leadership of actuarial practice in the context of market conduct through the development of Standards of Actuarial Practice and Actuarial Practice Notes, and the provision of CPD events. In other words, a broader remit than TCF in isolation. In light of the above, members from the Market Conduct Committee will highlight key features of the Committee, providing insights of how members could interact with the Committee. The presenters in Johannesburg are Neil Savage, Peter Johnstone and Tamar Lewis.
So how does one cope with this? How does one structure a sensible approach to the remaining exams? How does one make sure those hours spent studying really count in the end? At the request of the ASSA Academy, Dave Strugnell will address these questions, and some recent qualifiers will share the secrets of their success, too.
Traditionally DB schemes provided pensions (sometimes indexed) and retirees had little to worry about, provided the scheme was well funded or the employer was able to maintain long term support. However, as pension scheme design is now changing around the world with the growth of DC arrangements, many retirees face the bewildering task of ensuring that their lump sum lasts as long as they do. There is no simple answer. The decumulation process is much more complex than the accumulation years. Dr David Knox will reflect on the Australian experience, where there has been a compulsory DC experience for 24 years, and the tensions and options that providers, retirees and regulators face.
The Life Assurance Committee: Sessional meeting where Francesco Nagari provides an update on the IASB Staff’s progress in drafting of the new standard (likely to be named IFRS17) and the likely next steps and timing from here. He also talks about some of the more recent conceptual developments since the 2013 Exposure Draft and speculate on some of the business and financial impacts these decisions will have.
Peter Temple, Oversight Examiner for Communications, has agreed to share hints with candidates on how to approach this examination and how to answer the paper, as well as other information that will increase your chances of success.
The Taxation Laws Amendment Bill, 2015 (“TLAB 2015”) was passed by the National Assembly on the 27 November 2015 and then later passed by the National Council of Provinces on 1 December 2015. The TLAB 2015 has been proclaimed in the Government Gazette on 8 January 2016 and is now the Taxation Laws Amendment Act of 2015 (“TLAA”).
The Wider Fields Practice Area is intended to cover new and emerging fields of practice where actuaries through their particular skill-set and/or experience could play a leading role. The Wider Fields Practice Area Committee seeks to both recognize and promote awareness of the existence of such practice areas among members. Speakers Machiel Kruger - Predictive modelling using survival data mining (Part 1) FC de Vos - Advanced analytics on a shoestring (Part 2)
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