Events

PBSS Webinar: Pricing Pension Promises Appropriately

20 June, 2024
10:00 - 11:00 EST
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PBSS Webinar: Pricing Pension Promises Appropriately

Over the last 20 years there has been a seismic shift in the private sector away from the provision of defined benefit plans to defined contribution plans. The primary (although not only) reason for the shift has been the accounting standards requirement to measure the liability using spot market yields on high quality corporate bonds. This effectively led to both volatile balance sheets and a fundamental mispricing of the pension liability. In today’s webinar we will show why this is the case and how a more equity based measurement of a pension liability should be used that would lead to lower balance sheet volatility and a more appropriate pricing of the pension promise

Speaker:

Andrew Smithers
Andrew Smithers is a well know author who recently published his Economics of the Stock Market (OUP 2022). He received an MA in Economics from Cambridge University and founded Smithers & Co in 1989. Before that he ran S G Warburg's successful asset management business for many years (now part of BlackRock). A regular financial commentator and columnist, and author of many academic publications, he co-authored multiple books such as Valuing Wall Street with Stephen Wright (March 2000) etc.


Moderator:

Peter Devlin
Peter Devlin is Partner and actuary at Deloitte Consulting in Germany. He is an FIA of the UK and advises clients on pension issues and especially in respect of de-risking via Pensioner Company models.



Registration Options:
  • I am a member of an IAA Section (AFIR-ERM; ASTIN; IAAHS; IAALS; IACA OR PBSS): This category applies to individuals whose membership with an IAA Section expires December 31, 2024 or later.
  • I am subscribing to the PBSS Section today: By choosing this option, you will receive IAALS member benefits until December 31, 2024.
Important Notes:
  • You must be signed into your IAA account to register. 
  • To complete your registration, click the "Proceed to check-out" button and lastly click on the "Submit" button to complete your order.
  • Once successfully registered, you will receive an automated response with your individual Zoom link to add to your personal calendar.
  • In addition to the Zoom link, you will also receive a confirmation email from the IAA Secretariat.
  • If you need assistance with your registration; please contact Teboho Mabeba, Section Coordinator