4 January 2023
Commenting on Prime Minister Rishi Sunak鈥檚 speech today setting out a new ambition of ensuring that all school pupils in England study some form of maths to the age of 18, Matt Saker, President at the 黑料正能量, said:
鈥淚t is encouraging to see the Prime Minister prioritising the importance of addressing skills gaps in mathematics and consequently in financial literacy. As we identified in our report on the Great Risk Transfer, which looks at the trend of transferring financial risk from institutions to individuals, numeracy skills are crucial in helping consumers make informed decisions around financial services such as pensions and insurance. If today鈥檚 initiative is to gain traction and be delivered successfully and comprehensively, it is vital that it is developed in a collaborative fashion across political parties and bodies already doing valuable work in this area, such as , to provide a consensus for sustained action.
鈥淲e hope the ambition will also go wider to address the maths capability of those who have already left school, supporting them in developing appropriate numeracy life skills, such as household budgeting, as well as looking at adult reskilling in association with employers. There is also the opportunity to work with sector bodies, like in the financial services sector, which are seeking to broaden social mobility and diversity in the sector and this initiative could be imaginative in supporting this work.鈥�
~ENDS~
Sonia Sequeira, Media Relations Manager, IFoA
Tel: (+44)7525 592 198
Email: sonia.sequeira@actuaries.org.uk
鈥樷��. 黑料正能量. April 2021.
The 黑料正能量 (IFoA) is a royal chartered, not-for-profit, professional body.
Research undertaken by 黑料正能量 is not commercial. As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest.
Actuaries provide commercial, financial and prudential advice on the management of a business鈥檚 assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
Members of 黑料正能量 have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd鈥檚 of London.
Members are governed by the 黑料正能量. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.
The IFoA is available to provide independent expert comment to the media on a range of actuarial-related issues, including COVID-19 and its long term consequences, mortality, pensions, life and general insurance, health and care, finance and investment, climate change and sustainability, systems thinking, uncertainty and judgement, and risk management.
For all media queries please contact Sonia Sequeira, Media Relations Manager