The Actuaries Institute’s policy principles guide the development of our public policy related content, including Thought Leadership Publications, Public Policy Position Statements and Submissions. These materials demonstrate how Actuaries, as a profession, serve the public interest and use data for good.
The Institute’s policy principles are that policy measures or changes should promote public wellbeing, consider potential impacts on equity, be evidence-based and support effectively regulated systems.
Promote public wellbeing
Actuaries promote public wellbeing by considering the impact of policy changes or measures on the Australian community as a whole and sub-groups that may be disadvantaged. We do so by considering a wide range of domains that reflect how individuals or groups can be impacted, including economic, social, health, housing, education and the environment.
Consider the impact on equity
Actuaries balance multiple stakeholder interests to help ensure the long-term sustainability of government policy and financial and other systems. Specific considerations include inter- and intra-generational fairness, and community expectations about discrimination and fair access to financial and other products and services.
Be evidence-based
Actuaries support well informed decision-making by providing careful and objective analysis of data and information and delivery of relevant insights around risks and uncertainty so it is accessible and actionable to stakeholders.
Support effectively regulated systems
Actuaries believe the public interest is best supported by systems that are effectively regulated, including settings that balance being proportional to risk, supporting efficient and fair practices and outcomes, minimising complexity, understanding future trends and withstanding foreseeable future shocks.