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AI / Data Science
Introducing AI in Pension Planning – A Comparative Study of Deep Learning and Fuzzy Mamdani Inference Systems for Estimating Replacement Rates
Introducing AI in Pension Planning: A Comparative Study of Deep Learning and Fuzzy Mamdani Inference Systems for Estimating Replacement Rates
Funded pensions have gained considerable attention as a strategy for securing supplementary income in retirement. This presentation aims to provide a comparative analysis of two methods for estimating the replacement rate: a deep learning model and a Fuzzy Mamdani Inference System (FIS). Since AI has gained considerable ground in the actuarial universe, an obvious step would be to investigate AI techniques, such as neural networks and fuzzy logic, in the realm of pension planning. Initial results indicate that these methods provide accurate estimations, warranting further analysis.
Speaker: Georgios Symeonidis
Moderator: Jennifer Alonso Garcia
Funded pensions have gained considerable attention as a strategy for securing supplementary income in retirement. This presentation aims to provide a comparative analysis of two methods for estimating the replacement rate: a deep learning model and a Fuzzy Mamdani Inference System (FIS). Since AI has gained considerable ground in the actuarial universe, an obvious step would be to investigate AI techniques, such as neural networks and fuzzy logic, in the realm of pension planning. Initial results indicate that these methods provide accurate estimations, warranting further analysis.
Speaker: Georgios Symeonidis
Moderator: Jennifer Alonso Garcia
Members Only
Climate & Sustainability
Actuarial Adaptation: Exploring New Roles for Actuaries in Response to Climate Change
This webinar will explore new practice areas for actuaries in the context of climate change. It aims to provide a broad overview of areas where actuaries can apply their skills and expertise to assist with climate change risks and opportunities, and thereby support the transition to a low-carbon economy, whilst also helping to manage the risks associated with such a transition (including not transitioning). The session will draw on current literature, case studies, industry practice and stakeholder interviews. The session covers current and potential areas of practice relating to climate risk management, risk and emissions modelling, insurance, finance and investments, strategy setting, governance, reporting and regulation, government, and other areas of corporate support. The webinar also addresses, at a high level, areas in which actuaries will be required to enhance their technical climate knowledge to enable actuarial practice.
Speakers: Atiyya Ally and Kelvin Massingham
Session Moderator: Georgios Symeonidis
Speakers: Atiyya Ally and Kelvin Massingham
Session Moderator: Georgios Symeonidis
Members Only
Climate & Sustainability
Climate Change or Not: What Is the Role of Actuaries in Addressing Concerns About the Climate?
Join us for a rousing, informative presentation on a controversial and timely topic that delves into whether actuaries should engage in the political discourse on Climate Change—and whether doing so strengthens or undermines the profession.
This webinar explores the following key questions:
đź’ Should the actuarial profession be making pronouncements about Climate Change when it manifestly lacks the necessary expertise on the topic?
đź’ Should actuaries stay out of the political debate on Climate Change?
đź’ Does it help the profession to comment on topics not covered in the syllabus?
Speaker: Ira Robbin
Session moderator: Michael Clark
This webinar explores the following key questions:
đź’ Should the actuarial profession be making pronouncements about Climate Change when it manifestly lacks the necessary expertise on the topic?
đź’ Should actuaries stay out of the political debate on Climate Change?
đź’ Does it help the profession to comment on topics not covered in the syllabus?
Speaker: Ira Robbin
Session moderator: Michael Clark
Members Only
Climate & Sustainability
Aligning Finance with Climate Goals
Aligning finance with climate policy goals is crucial for achieving net-zero greenhouse gas emissions and enhancing resilience to climate change. Policymaking and investment decisions aimed at such alignment must be informed by robust assessments.
This webinar will present the best available evidence on three core questions:
How is the climate alignment of finance assessed?
What do we know about current financial flows and stocks?
What evidence exists on the role of financial sector policies and actions?
Speaker: Jolien Noels
Session Moderator: Georgios Symeonidis
This webinar will present the best available evidence on three core questions:
How is the climate alignment of finance assessed?
What do we know about current financial flows and stocks?
What evidence exists on the role of financial sector policies and actions?
Speaker: Jolien Noels
Session Moderator: Georgios Symeonidis
Members Only
Consulting
The challenges of building durable long term care insurance offer in France
What are the levers of attractiveness of long-term care insurance that we need to act on? In France, the creation of a 5th branch of Social Security dedicated to autonomy is a significant step forward. However public finances will not be able to assume the costs linked to the loss of autonomy of all our fellow citizens and families will not have all the financial resources to absorb the remaining expenses of their elders. These issues undeniably argue for the use of insurance solutions to support the public authorities. It is therefore essential that we, as actuaries, continue to work on making our long-term care products more desirable and durable. This workshop will be an opportunity to present an overview of the long-term care insurance market, highlighting in particular the issues, practices, market projects and prospects specific to this risk.
Members Only
Consulting
The Constraints of Pension Sustainability
Taxation, regional regulations and certain exogenous factors might affect a plan sponsor’s interpretation, approaches and success in achieving sustainability of their defined benefit plan. Rules regarding the design, funding and taxation of most defined benefit plans are regional, typically by country, or perhaps by state or province. The rules usually focus on encouraging sponsorship and participation, and/or ensuring sufficient funding. There are often other goals, such as limiting tax deductions or preventing discrimination by age, gender, pay-level, etc. While they may be well-intended, the rules can often constrain a sponsor’s ability to implement effective, long-term policies that seek to optimize plan sustainability. Layered on top of the general rules are often tax laws that can influence or reward sponsor and participant actions. These incentives, or sometimes disincentives, can lead to sponsor and participant choices that might be counter to a plan’s optimal path to sustainability. In addition, an organization’s approach to plan sustainability could be constrained by exogenous factors, such as: prioritization of short-term financial results diverting from long-term funding; demographic aging if benefit costs (intentionally or unintentionally) rely on intergenerational cross-subsidies; long-term global trends affecting capital market returns, long-term return expectations or inflation experience; and mortality improvements. The paper will examine how these constraints can affect a plan’s sustainability, how a sponsoring organization might better achieve sustainability if unconstrained, and a case study of the United Nations Joint Staff Pension Fund, which operates free of certain constraints that exist for plans operating under regional regulations and/or taxation regimes.