Well quite.
Having read the report form the migration advisory committee http://www.ukba.homeoffice.gov.uk/sitecontent/documents/aboutus/workingwithus/mac/skilled-shortage-sensible/
- it seems they advised the govt they need to go outside the EU to find staff as Solvency 2 affects everyone in the EU. Well, I can't believe things are that bad! But if they are, then surely the situation is as bad for all other companies all over the EU so the right thing to do is for the EU to delay the implementation of S2 as has already been hinted many times.
But being put on the list doesn't just mean they can only bring in qualified actuaries for S2 work, that project is not specified as a restriction.
I think being put on the list is a very significant development for this profession with potentially adverse ramifications for our careers and prosperity. Why?- as we can be undercut by the new competition for UK jobs as has happened in other parts of our society. Of course, some recruiters will be very happy with this for obvious reasons.
Personally I don't feel consulted about it and think some vested interests have had too much say and are using S2 as an excuse to recruit from outside EU to make cost savings or ramp up commissions.
Furthemore, I am very cross that the profession simultaneously charges Brits more than overseas people for subscription and actuary training... then now allows them to compete for our jobs over here too. Call me old fashioned but I don't find it acceptable for us to be subsidising competition for our jobs ? I just think we should put our own people first and deal with shortages by training more of our young people in advance rather than import actuaries from some countries who may need their actuaries more than us.
Last edited by a moderator: Nov 22, 2011