The Actuaries Institute recommends the Australian Tax Office play a significant role in payment of limited, early release superannuation to people financially impacted by COVID-19. The Government has said it would allow workers affected by the crisis to pull as much as $20,000 out of their superannuation, in two tranches of $10,000 each. The Convenor […]
continue readingThe new president of the Actuaries Institute, Hoa Bui, said she would bring a renewed focus to giving young actuaries a voice in the profession during her term as leader of the professional association. In her Presidential Address, Ms Bui said more than half of the Institute’s members are under 35- years of age. “Young […]
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10
Mar
2020
In a submission to Treasury, the Actuaries Institute finds: More people risk falling outside superannuation guarantee as gig economy expands. There is scant encouragement for Australia’s older workers to keep working. Complexity and uncertainty dominate at the point where superannuation, the Age Pension and Aged Care meet. The Actuaries Institute says more Australians will fall […]
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14
Feb
2020
The Actuaries Institute said Australia’s $5 billion disability income insurance (DII) sector needs urgent reform, noting that failure to implement significant changes will reduce consumer access to affordable disability cover in the future. The Actuaries Institute has established a taskforce to identify where critical reform is needed. It commissioned KPMG to compile a comparative research […]
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11
Feb
2020
The Australian Actuaries Climate Index [1]shows a combination of weather conditions in the Spring of 2019 that are likely to have fuelled the bushfires currently devastating the country. Every region recorded below reference period[2] average extreme rainfall, above reference period average extreme high temperatures and several regions broke records. Every region except Tasmania recorded above […]
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07
Feb
2020
The Australian Actuaries Climate Index shows winter 2019 was among the driest on record, with six out of the seven states and territories experiencing below average rainfall relative to the reference period of 1981-2010. Parts of Western Australia, South Australia and New South Wales experienced the driest or second driest season since the beginning of […]
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20
Nov
2019
Crucial tables used in software to estimate retirees’ longevity and calculate how best to ensure their savings last, need a critical update, the Actuaries Institute said. The tables have a material impact on the way retirement income strategies and products are evaluated, and currently underestimate longevity. “To have more than a coin-toss chance that a […]
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12
Nov
2019
A group of Australian actuaries have devised a simple ‘rule of thumb’ to help retirees work out how much money they should draw out of their savings in retirement. The five actuaries ran a range of complicated equations and dynamic programming calculations to help single retirees who have reached Age Pension eligibility age, and who […]
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11
Nov
2019
The Actuaries Institute Australia is delighted to confirm Reinsurance Group of America, Incorporated (RGA) as the first Platinum Sponsor of the International Congress of Actuaries being held in Sydney, Australia from 3 – 7 April 2022. RGA, one of the largest global life and health reinsurance companies, has been a longstanding supporter of the International […]
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05
Nov
2019
The Actuaries Institute has named Tim Andrews 2019 Actuary of the Year. Mr Andrews is a Director and Chair of Finity Consulting, where he leads the Natural Peril Pricing and Climate Risk practice. Together with the Actuaries Institute, Mr Andrews developed and launched the first Australian Actuaries Climate Index, which measures the occurrence of extremes […]
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02
Oct
2019
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