Practical Actuarial Assessment of Pension Funds: Risks & Assumptions

Introduction & Programme

Actuarial valuations are only as useful as the assumptions and decisions behind them. This web session provides a practical introduction to the actuarial assessment of funded pension arrangements and is designed particularly for recently qualified actuaries and professionals with limited experience in pension work.

Using simplified case studies relevant to pension arrangements across Europe, participants will examine how mortality, longevity, disability and investment return assumptions affect pension liabilities, funding positions and benefit affordability. They will apply sensitivity analysis, observed-versus-expected comparisons and scenario testing to identify emerging risks.

The session then moves from measurement to decision-making: how should adverse experience be reflected in future benefit accrual, indexation, contributions, buffers or other adjustment mechanisms? Particular attention will be paid to how gains and losses are distributed between pensioners, active members, employers and future generations, and to the clear communication of actuarial findings to decision-makers.

Preliminary Programme

All the above times are given in CET (Central European Time).

Learning Objectives & Approach

After the web session, participants should be able to:

• identify and critically assess the principal assumptions used in a pension fund valuation;
• calculate or interpret how changes in mortality, disability and investment-return assumptions affect liabilities and funding positions;
• apply simple sensitivity tests, observed-versus-expected analysis and scenario testing;
• distinguish between technical valuation results and decisions about contributions, benefits and risk sharing;
• explain how alternative adjustment mechanisms affect pensioners, active members and future generations;
• communicate pension fund risks and actuarial conclusions clearly to non-specialist decision-makers.

This web session will combine short presentations with worked examples, participant polls and practical case exercises. Simplified data will be used, and no knowledge of a particular national pension system will be required.

Participants

This web session is intended particularly for recently qualified actuaries, actuarial analysts and actuaries moving into pension work from another actuarial field. It may also be useful for professionals who review, manage or supervise pension fund valuations.

A basic understanding of actuarial present values, survival probabilities and life contingencies will be helpful. Detailed prior experience of pension fund valuations or of any particular national pension system is not required.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure to join the web session with a stable internet connection.

Lecturers

Sigurður Freyr Jónatansson
Sigurður Freyr Jónatansson graduated in actuarial science from the University of Copenhagen in 1997 and has worked in Icelandic financial supervision since 2002. He is currently an expert in actuarial risk at the Central Bank of Iceland, focusing on pension funds and insurance undertakings. He was seconded to EIOPA in 2012–2013 and lectured in life insurance mathematics at the University of Iceland in spring 2026. His work includes the review of actuarial valuations, solvency and long-term sustainability, as well as the assessment of risk-sharing mechanisms in pension and insurance systems.

Language & CPD Credits

The language of the web session will be English.

CPD Credits
For this web session, the following CPD credits are available under the CPD scheme of the relevant national actuarial association:

• Austria: 3 points
• Belgium: 3 points
• Bulgaria: 4.5 points
• Croatia: individual accreditation
• Czechia: 3 hours
• Denmark: 3 credits
• Estonia: 3 hours
• Finland: 3 points
• France: 18 points
• Germany: 3 hours
• Greece: 4 points
• Hungary: 3 hours
• Iceland: 3 credits
• Ireland: 3 hours
• Italy: GdLA individual accreditation
• Latvia: 3 hours
• Lithuania: 3 hours
• Netherlands: approx. 3 points (individual accreditation)
• Norway: 3 points
• Poland: 3 hours
• Portugal: 3 hours
• Serbia: 3 hours
• Slovakia: individual accreditation
• Slovenia: individual accreditation
• Spain: CAC: 3 hours, IAE: 3 hours
• Switzerland: individual accreditation
• USA: SOA (Section B): up to 3.6 hours

No responsibility is taken for the accuracy of this information.

Fees & Registration Details

Early Bird Registration Fee (until 23 December 2026):

• For private customers in the EU: €240.00 + VAT of the billing country (example Germany: €285.60 incl. 19% VAT)
• For private customers outside the EU: €285.60 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €240.00 (net, reverse charge applies)
• For businesses in Germany: €285.60 (incl. 19% VAT)

Regular Registration Fee (from 24 December 2026):

• For private customers in the EU: €315.00 + VAT of the billing country (example Germany: €374.85 incl. 19% VAT)
• For private customers outside the EU: €374.85 (incl. 19% VAT)
• For businesses within the EU (excl. Germany, with valid VAT ID): €315.00 (net, reverse charge applies)
• For businesses in Germany: €374.85 (incl. 19% VAT)

Important VAT Information:

• For private customers with a billing address in an EU country: VAT will be charged at the applicable rate in the country of the billing address. The final amount, including VAT, will be calculated upon invoicing.
• For customers with a non-EU (third country) billing address: Only a non-company billing address is accepted for VAT compliance reasons. 19% VAT applies to all non-EU private customers.
• For businesses within the EU (excluding Germany), Iceland, Liechtenstein, Norway, Switzerland, and the UK with a valid VAT ID: The reverse charge mechanism applies (net price; VAT will not be charged). Please ensure your valid VAT ID is entered correctly during registration.
• For all customers with a billing address in Germany: 19% VAT applies.

Please submit your registration using our online form below. Closer to the event, you will receive further login details to join the web session.

Your registration is binding. Cancellation is only possible up to 2 weeks before the first day of the event. If you cancel later, the full participation fee is due. You may appoint someone to take your place but must notify us in advance. EAA has the right to cancel the event if the minimum number of participants is not reached.

We will send you an invoice via email. Please allow a few days for handling. Please always give your invoice number when you effect payment. All bank charges are to be borne by the participant.

Registration is open until two working days before the web session. If registration has already been closed for this web session, please call us or send an email to contact@actuarial-academy.com in order to find out whether a late registration is still possible.