Professors Jane Hutton and Saul Jacka have been funded by the Royal Society to run a Hooke Discussion meeting on:

How should pension liabilities be valued? Risk aversion and demographic uncertainty
(link to: https://royalsociety.org/science-events-and-lectures/2019/03/pensions/ )

Monday 25 March 2019 and Tuesday 26 March 2019, at
The Royal Society, London, 6-9 Carlton House Terrace, London, SW1Y 5AG

Several challenges arise in estimating the liabilities and assets needed for pensions provision. The UK Government has increased the State Pension Age to reflect longevity. For developing countries, achieving reliable estimates of life expectancy is not easy. Actuaries, economists, and statisticians use varied definitions of risk and methods for estimation and forecasting. Disagreement centres on concepts of risk and prudence.

This meeting will air some slow-burn economic and social issues, to initiate a more co-ordinated approach and to dispel some widely-held misapprehensions.

"Judgements made by committees, based on esoteric actuarial arguments, can have large implications for people's lives."

Registration is required.