This series takes a fresh, sometimes challenging, look at some of the issues facing the actuarial profession and society
The ‘think’ series aims to promote debate on topics across the spectrum of actuarial work and beyond. It looks to provide a platform for members and stakeholders to share views that may differ from the IFoA’s ‘house’ view.
Through this, we hope to challenge the status quo within the profession, question orthodoxy, and shine a light on complex or under-examined issues. At its heart, the series is about stimulating discussion and dialogue to help tackle issues from a different perspective.
The sixteenth edition of our ‘think’ series has been authored by Jamie Gollings, Director of Development and Deputy Research Director at the Social Market Foundation (SMF). He has worked on a variety of research projects across the SMF policy areas, including gambling, pensions, and education and skills.
This piece makes the case for a pensions policy proposal, named the ‘Citizens Advance’, first proposed by Andrew Lewin, the recently elected Member of Parliament for Welwyn Hatfield.
At its core, the idea proposes that a person would receive a lump sum of money now, in exchange for postponing the point at which they receive their State Pension. The SMF was approached by Andrew Lewin, and subsequently received a grant to conduct research into the feasibility and possible parameters of the policy initiative.
Read the full piece to learn more about how this policy proposal seeks to reduce young people’s reliance on ‘the bank of Mum and Dad’ and what role actuaries can play to assess the viability of this idea.
Join Jamie Gollings on 27 February, 12:30 GMT for an engaging Q&A session on IFoA Communities. He will take a deeper look into the think piece and answer your questions live.
If you have any questions or would like to contribute to a future ‘think’ piece, please contact the IFoA Policy Team.
