Deceased Members–2007

In Memory of Sidney "Sid" William Caffin

Sidney "Sid" William Caffin, 92, died June 16, 2007 in Canbera. Caffin was best known as the Life Insurance Commissioner and Commonwealth Government Actuary. He was appointed to both posts in 1957 and held them until his retirement in 1978. He was influential throughout this period in both the burgeoning life insurance industry and, as Commonwealth Actuary, the actuarial management of numerous government pension schemes. He was President of the Institute of Actuaries of Australia in 1967, was awarded an OBE in 1972 and became an officer of the Order of Australia in 1978.

Caffin was the quintessential actuary in many respects. He was always insistent on receiving complete and accurate data for any actuarial task he undertook. He was thoughtful, providing thorough analysis and demanded well–prepared written reports with clear recommendations. These same attributes instilled a sound understanding of professionalism and actuarial integrity in numerous young actuaries in Canberra in the 1960s and 1970s.

Caffin had all the characteristics of the dedicated senior public servant, fighting hard for the principles in which he believed, especially the actuarial principles of full funding and equity among members or policyholders. He was the contemporary of such well–known public servants as Sir Roland Wilson, Sir Lenox Hewitt and Sir Frederick Wheeler.

His beloved wife Molly became ill in the 1970s and died soon after Sid's retirement, nearly 30 years ago. In his retirement, Caffin remained an energetic actuary, continuing to consult to the governments of PNG, Fiji, Tasmania and the Northern Territory. He will be remembered for his uncompromising and thorough approach to his responsibilities as Life Commissioner and Commonwealth Actuary and for his dedication to the ideals of the actuarial profession.