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The Association of Consulting Actuaries (ACA) is the representative body for consulting actuaries. The Association was first formed as the Society of Consulting Actuaries in November 1951, and re-named as the ACA in March 1952. The members of the Association are all individual actuaries who work in the consulting sector, and are mainly qualified through membership of the professional body for actuaries, the Institute and Faculty of Actuaries.
The ACA was first proposed by Reginald Maudling, senior partner of Watsons, and James Bacon, senior partner of Bacon and Woodrow, as a way of ensuring that independent consulting actuaries were represented to both employers operating pension schemes for their staff and the government. In the 1950s independent actuaries were competing with large insurance firms to provide advice to employers, and collecting together as an association was seen as a way of raising independent consultants' status and making employers' aware that they were a source of disinterested professional advice. An association would also be able to provide a collective voice for consultant actuaries to government, who were increasingly interested in monitoring and controlling pension schemes in the 1950s. Maudling and Bacon were made joint Presidents at the ACA's foundation.
The ACA continues to promote the services provided by consulting actuaries and provide independent advice to decision makers on the need for and implications of legislative change in relevant areas, including responding to government consultations and publishing Parliamentary Pension Briefs for the benefit of MPs. The ACA also acts as a forum for exchanging relevant information among its members and exchange information with other organisations operating in the same fields. The ACA also publishes regular surveys of the pensions industry.
The ACA hold regular 'ordinary' or 'sessional' meetings of members, traditionally held at St. Ermins Hotel, Westminster, where matters of common interest are discussed.
The ACA is run by a Chairman and committee. Sub-committees, or technical committees, were set up to carry out specific tasks or monitor a particular area affecting actuaries. Since 1992 a secretariat has been employed to provide administrative services for the ACA. The ACA have been based at the following locations: Norfolk House, Wellesley Road, Croydon (1991); 1 Wardrobe Place (1992-2001); Wanford Court, 29 Throgmorton Street (2005-2008); St. Clement's House, 27-28 Clement's' Lane (2009-2013); and 45 King William Street (2013-).