PENSIONS, BENEFITS AND SOCIAL SECURITY SECTION (PBSS) MINUTES OF 4 th MEETING OF THE COMMITTEE HELD ON 28 MAY 2006 AT 12:00 IN THE VAN GOCH/PISSARO ROOM, THE HOTEL CONCORDE LA FAYETTE, PARIS 1. Present and Apologies: Present: Chris Daykin () UK - PBSS Chairman Neil Parmenter () USA - PBSS Vice Chairman Mike Codron () South Africa - Secretary Junichi Sakamoto (JS) Japan - Treasurer Rob Brown (RB) Canada Hillevi Mannonen (HM) Finland Eduard Ponds (EP) Netherlands Paul Thornton (PT) UK - IAA By Invitation: Mike Toothman (MT) USA - IACA Chairman-elect Ken Buffin (KB) USA - IACA Committee Adrian Waddingham (AW) UK IACA Chairman Takayuki Nagasawa (TN) Japan Apologies: Masakazu Masaki (MM) Japan Martin Stevenson (MS) Australia Cinzia Ferrara (CF) Italy Alf Gohdes (AG) Germany Jean-Michel Kupper (JK) Belgium - IAA George Psaras (GP) Cyprus 2. Approval of minutes of last meeting, held on 16 November 2005 in Rio Janeiro: To be actioned by The minutes of the meeting held on 16 November in Rio de Janeiro were approved and signed Page 1 of 5
3. Matters arising from Minutes of last meeting: 3.1 Membership of the Committee (3.1): It was noted that HM, and had indicated that they had put their names forward to continue to be members of the Committee and that the Australians had put forward the name of Catherine Nance to replace MS. No reply had been received from CF or GP All were requested to ask other members to put their names forward together with the above for the AGM. It was also noted that JK had not attended any meetings. and PT agreed to establish if the IAA Nominations Committee wished to review their appointed delegates to the PBSS Section Committee. ALL /PT 3.2 Website and Launch of Section (3.2): advised that Christian Levac had indicated that he was willing to assist in setting up the website but the Committee needed to determine the content. to get matters moving and to obtain the assistance of Mirko Cardinale. 3.3 Membership (3.3): It was noted that a flier promoting the PBSS had been sent to all IAA members but it had not been handed out at the Canadian or the Australian meetings. advised that discussions had started with the Society of Actuaries on a possible block membership at a reduced fee but to date the matter had not been resolved. After discussion on various ways of increasing the membership of the PBSS the following was agreed: to obtain an up to date list of current and exmembers of the PBSS from Christian Levac. to ask the IAA if they could request similar associations to put a link to the PBSS website on each of their own websites and to encourage membership of the PBSS. Page 2 of 5
to update the flier. to head up a membership sub-committee with RB and PT. 3.4 Newsletter or bulletin (3.4): 3.5 3.6 3.7 It was noted that this was a lot of work requiring continuous update and it requires a team if it is to succeed. The matter is to be kept on hold but to explore possible solutions with PT. Information Exchange (3.7): EP advised that the details of the Pensions E Group had not been distributed but he would now address the matter. Peer Review Journals (3.8): It was noted that EP had been added to the Editorial Board of Astin but RB had not been added as yet. The Committee to encourage members to submit papers to this bulletin. Social Security Education (6): was still awaiting comments on the paper from and MS. EP ALL /MS 4. Future Conferences and Seminars: 4,1 ISSA on 21-23 May 2007 in Finland. It was noted that matters were progressing well and a flier would be handed out at the ICA the following week. The following was agreed: The sub-committee to organise the scientific programme for the event would be HM,, RB and EP That it was recommended that reduced rates should be given to academics, ISSA members, and younger members, but non-members would pay an extra fee equal to the annual PBSS fee. HM// RB/EP HM Page 3 of 5
An outline of each submitted paper was required by November 2006 and all final papers by January 2007. HM 4.2 SOA/CCA in Boston May 2008: The following was noted: IACA was still considering if it would join the conference. was establishing who would lead this conference and it could well be himself. Preferably the SOA should organise the conference, but if not PBSS may hire an outside organiser. 4.3 Tokyo 2009: No final date as yet. 4.4 ICA 2010 Cape Town: To be held on 7-12 March 2010 4.5 No other conferences or seminars were discussed. 5. Finances: JS handed out draft financials. The following was noted: 245 members. Assets were approximately CAD 18400. An audit fee of CAD 500-1000 would be deducted. After 30 September 2006, bank charges would be deducted but interest would be added and the final accounts would be prepared. JS Page 4 of 5
6. General: 6.1 6.2 It was agreed that after each PBSS meeting, the minutes would be circulated to the Committee members for comment and thereafter would be posted on the website as a draft and would be altered to a final version once approved at the next meeting. advised that Singapore was holding a retirement fund conference on 9-10 October 2006 and Yves Guérard and he were happy to attend and present papers. Other volunteers from the PBSS interested in presenting papers would be welcome. It was agreed that the meeting could be described as co-sponsored by or being held in association with the PBSS Section of the IAA. 7. Next meeting: To be held in Edinburgh in November 2006. APPROVED DATE CHAIRMAN Page 5 of 5