Assignment X1 X1.1 the question is to describe factors to be considered for carrying out a review of the external environment. initially, i think the scope of the "external" should be undertood as external of the pension system. But afer refer to the solusions, it actually incorporate not only the external environment of the pension system, e.g. economic conditions, demographic, population, political etc., which are the similar with my thoughts, but also some points closely related to the pension system itself, e.g. membership eligibility, funding approach, benefit provision etc., which i think should not fall into the scope of "external environment". Or, maybe the question could be understood as the external of the actuarial review project? How to understand the scope of "external"?
In this type of question it is definitely a good idea to start with all the key factors directly from the chapter on the external environment as you did. The wording of the question does then say that we need to 'give examples .... of the decisions to be made' and that is what leads to (for this particular question) the need to set out some of the other areas you've mentioned above. I hope that helps Helen
