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06
AUG
2018

The moral underground - how ordinary citizens change our futures

Keynote Speaker:
Professor Jonathan Jansen is Distinguished Professor of Education at the University of Stellenbosch. In 2016/17 he was a Fellow at the Center for Advanced Study in the Behavioral Sciences at Stanford University and in 2018/9 will be a Fellow at the Swedish Collegium for Advanced Studies. He is currently President of the South African Institute of Race Relations and President of the South African Academy of Science.

He started his career as a Biology teacher in the Cape after receiving his science degree from the University of the Western Cape. He obtained a MS degree from Cornell University and a PhD from Stanford. He holds honorary degrees from the University of Edinburgh, the University of Vermont and Cleveland State University.

In 2013, he was awarded the Education Africa Lifetime Achiever Award in New York, the Spendlove Award from the University of California for his contributions to tolerance, democracy and human rights, and he also won the largest book award from the British Academy for the Social Sciences and Humanities for his book, “Knowledge in the Blood”.

His latest books, published in 2018, include “Inequality in South African schools” (with Nic Spaull); the “Politics of Decolonisation” and “Making Love in a War Zone” which concerns interracial intimacies among university students.
06
AUG
2018

Economist Presentation

Given by Kevin Lings, Chief Economist, Stanlib

South Africa faces a number of immediate as well as longer-term structural impediments to growth. Some of these challenges are reflected in persistent high income and wealth inequality, others are reflected in service-delivery protests and demands for free tertiary education or the steady rise in the number of social grant recipients, which is rapidly approaching 18 million people.

There is an urgent need for South Africa to find a way to lift the level of economic growth meaningfully, but in a manner that leads to sustained job creation. Without widespread and sustained job creation the authorities will find it increasingly difficult to address the frustrations of the population, thereby raising the risk of increased social and political protest that would further undermine consumer and business confidence.

At the same time developed markets are being negatively impacted by an aging population, which is undermining the rate of growth, while many emerging economies, including South Africa, are struggling to unlock their demographics dividend. What does all of this suggest about South Africa’s future economic prospects?

Here to give us the answers is Kevin Lings, Chief Economist of Stanlib.
06
AUG
2018

Exemptions on DC Valuation

Given by Mia Geringer - Founding Director SolveCo Actuarial Services (Pty) Ltd

The next session will look at the administration and system issues when considering the valuation exemption criteria of Defined Contribution Funds. Certainly a motive in doing so is the objective of reducing the cost of administering and managing DC arrangements.

So I guess the key question here is “ Do we believe that we can decrease the cost if actuarial input is reduced? “
06
AUG
2018

The Impact of volatility on living annuity portfolios and the impact on portfolio construction

Given by Jaco Van Tonder Sales Director at Investec Asset Management
Prior to moving into this role, Jaco was sales director for the South African Advisor team and head of distribution for Investec Investment Management Services.
Having previously worked at Sanlam Group, Jaco occupied various positions which included heading up the product development for the Sanlam platform business, Glacier from 2000 to 2003, and heading up the business development and distribution team from 2003 to 2009.
He is a Fellow of the Institute of Actuaries, and holds a B.Sc (Hons) degree from the University of Stellenbosch

A significant number of South African retirees retire using living (or draw down) annuities. This is an area which practitioners such as ourselves need to concern ourselves more on and in particular, help members achieve the maintenance of their standard of living into retirement on a sustainable basis…

Many prior studies have investigated correlations between the sustainability of living annuities and various factors relating to the construction of the investment portfolios and income draw-down strategies. As part of the work conducted by our next speaker and his colleagues investigating these matters, they were able to quantify specifically the relationship between portfolio volatility and sustainable income draws.

The next speaker believes this has useful applications in areas such as annuity portfolio construction, as well as pricing of volatility smoothing products aimed at the pensions market.
06
AUG
2018

Legal Developments

Given by Jonathan Mort - Founder and MD Jonathan Mort Inc.
His legal practice covers all aspects of the law relating to pension funds, and he advises funds and employers throughout South Africa and other Southern African countries. His specific area of interest is in governance and investment issues relating to pension funds. He is also an experienced pension fund trustee, acts as a non-executive director of the nominee company, unit trust company and life company of Allan Gray and has been an inspector of financial institutions.

Jonathan is a past president of the Pension Lawyers Association, is on the SA Actuarial Society Disciplinary Committee, is on the Advisory Committee of the SA Pension Fund Investment Forum and is also on the steering committee of the International Pension and Employee Benefits Lawyers Association (IPEBLA) and on. He is also the directing editor of IPEBLA’s “Comparative Survey of Pension Law Issues”. His firm has won the prestigious Imbasa Yegolide Award of Law Firm of the Year twice in the last three years.

The next part of the program will focus on legal matters and specifically, cover issues related to umbrella funds and the default regulations.
06
AUG
2018

Future of the Pensions Actuary

Given by John Anderson Group Head of Client Solution Alexander Forbes, BComHons (Actuarial Science) Fellow of the Actuarial Society of South Africa Fellow of the Institute and Faculty of Actuaries.

The South African pensions landscape has changed significantly over the last 2 decades. With this shift has come the change in the pensions actuary’s role in ensuring that retirement fund members achieve sustainable incomes in retirement.

This presentation provides a brief overview of the changes to date, how the actuary’s role has changed, where pensions actuaries have become more involved in the new environment as well as where pensions actuaries can provide further value in future.
06
AUG
2018

The Impact of cognitive decline in retirement

In the context of longevity the question of mental health and cost implications thereof appear to have been left behind.

The next presentation covers the causes, consequences and costs of dementia and how our retirement savings might be affected.

Given by Lucia Viegas - Actuary and Lecturer of Actuarial Science at the University of the Witwatersrand
06
AUG
2018

Professionalism

Given by Niel Fourie - Consulting Actuary in South Africa & Namibia.
He joined the Actuarial Society of South Africa in 2012 as Public Policy Actuary. In his role as Public Policy Actuary he is responsible for stakeholder engagement, media & PR and various technical committees.

An Overview of the Actuarial Society's guidance on Professionalism and Ethical Behaviour and a practical Case Study, followed by a Q & A Session.
06
AUG
2018

Closing Remarks

Given by Natasha Huggett-Henchie - Chairperson of the Retirement Matters Committee and Principal Consulting Actuary and Director at NMG

11 episodes