Description: This artice provides a brief summary of a recent meeting of the International Congress of Actuaries in London. Updates are also included on the progress toward formation of the American Academy of Actuaries and the Canadian Institute of Actuaries.

Description: A. Discusssion of the practical considerations involved in deciding whether or not to adopt projected mortality rates in connection with individual annuities, settlement options, retirement income policies, and the various forms of group annuities. B. In view of increased administrative expenses, discussion of the arguments for and against imposing limitations on the granting of settlement options with respect to size of policy, including the practicality of providing for the expense of administering supplementary contracts other than through the use of conservative mortality and interest assumptions.