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New Chairman of the Association of Consulting Actuaries
Adrian Waddingham elected Chairman of the Association of Consulting Actuaries
Barnett Waddingham LLP partner Adrian Waddingham has taken office as Chairman of the Association of Consulting Actuaries (ACA).
Adrian has been the ACA's Honorary Secretary since 1999 and is also Vice Chairman of the International Association of Consulting Actuaries (IACA). He is a former Chairman of the Association of Pensioneer Trustees and was a member of the FSA Small Business Practitioners Panel from 1999 to 2002. He was elected Chairman of the ACA with effect from 1 June 2004.
Adrian said: "It is a great honour to be elected chairman of the Association, but I also take on the role at a very challenging time.
"The huge changes that are taking place in pension provision, particularly in the occupational sector, require that our members are pro-active in their advice to clients. The ACA offers both a forum to consider initiatives and, just as important, will continue to offer the Government clear advice on how it should progress with its pension reforms.
"The ACA is certain that the key to improving pension provision in the UK is to make sure that the pensions framework encourages employers to run good schemes. That was after all how good pension provision came about in this country.
"Our members are also active in the insurance sector, where, notably in the life sector, increasingly their advice is likely to be valued as further reforms of the sector are implemented.
"Also, the ACA will be keen to impress upon the Morris Review (of the Actuarial Profession) the competitive nature of the sector. We must ensure that any reforms he may recommend are well considered, taking on board the views of our members and, even more important, those of our clients."
Sir Derek Morris is currently reviewing the actuarial profession in the UK in the wake of failures at life insurers.
Adrian succeeds Gordon Pollock, whose two-year term of office as Chairman came to an end on 31 May. He said "Adrian will make an excellent successor. He has a great deal of experience in the sector and is always thought provoking in his approach to the major issues facing our clients and members. With the implementation of the Pensions Bill falling into his term of office, his leadership skills will be invaluable to the ACA and those in Government and elsewhere who rely on our Association's advice and guidance."
All of Adrian's colleagues at Barnett Waddingham LLP extend their congratulations to the new Chairman and wish him every success in his new role.
Barnett Waddingham LLP, June 2004.