As the sole professional body for actuaries in Australia, the Actuaries Institute represents the interests of its members to Government, the business community and the general public. We are committed to providing independent and expert advice on public policy issues where there is uncertainty of future financial outcomes.
Actuaries assess risks through long-term analyses, modelling and scenario-planning and provide expert comment on a broad range of business-related issues including enterprise risk management, finance and investment, prudential regulation, retirement income policy, general insurance, life insurance and health financing.
Summary of recommendations
We recommend the Government:
– Remove barriers to allow our ageing Australian population to better manage their longevity risk
– Take a more holistic risk management perspective to improve natural disaster resilience
– Supplement existing budgetary material with a risk framework to improve understanding of the risks and uncertainties surrounding forecast estimates.
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