Jules Constantinou has been elected as the president of the Institute and Faculty of Actuaries (IFoA) for the 2018/19 year.
Pension professionals have reacted with outrage to Treasury plans to cut the money purchase annual allowance (MPAA) from £10,000 to £4,000 from April.
The defined benefit (DB) regulatory framework is too rigid and needs to be made adaptable to ensure scheme sustainability, according to the Pensions and Lifetime Savings Association (PLSA).
Two thirds of people aged over 55 who have bought an annuity (68%) would be unlikely to cash it in despite being able to from next year.
The Institute and Faculty of Actuaries (IFoA) has warned increases in life expectancy could lead to individual hardship and put a strain on the benefits system.
The government must tread very carefully if it wants to overhaul pensions tax relief