Although the duties of a life office actuary have changed little, if at all, over the last twenty-five years, changing conditions have created new problems and have changed the relative importance of different aspects of those duties. The object of this paper is to describe the developments which have occurred during this period and to suggest the likely direction of future changes.

Confident prediction of the future course of events is work for astrologers who have either a belief in their own powers which no analysis of past results can undermine, or a gullible clientele which is sufficiently large to make forecasting worthwhile. It is the business of the actuary, as a scientist, to base judgments on an analysis of past events and trends and, as a professional man, to see to it that the gullible are not imposed upon.