Actuarial Profession’s Proposed Merger Encounters Opposition

Brian Spence

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With the Scottish National Party government committed to bring forward a bill next year for a referendum on independence for Scotland the Faculty of Actuaries in Scotland is embroiled in what looks like an increasingly acrimonious dispute over merger with the Institute of Actuaries in England.

Latest is that a Special General Meeting has been called by a dissenting group Fidelis to debate three resolutions that are being strongly opposed by the Faculty’s Council.

A lively anti-merger account is being provided by Patrick Lee who is associated with Fidelis at 21st century actuary’s blog.

The point that perplexes me is why after 150 years of existence the Profession is so determined to bring about a merger on what could be the eve of independence for Scotland.

I havent seen any suggestion that the Society of Actuaries in Ireland or the actuarial profession in any other EU state should join in the merger.

Perhaps merger in the longer term will be the right course of action but it certainly seems a premature and divisive step at this stage.

Brian Spence

Post by Brian Spence

Fellow of the Institute and Faculty of Actuaries and Society of Actuaries in Ireland, scheme actuary, professional pension trustee