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Instructions for authors

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British Actuarial Journal

British Actuarial Journal (BAJ) is published three times a year by Cambridge University Press for the Institute and Faculty of Actuaries. The journal contains the papers presented to the sessional research programme of the Institute and Faculty of Actuaries along with transcripts of the discussions and debates. It also contains Presidential addresses; memoirs and papers of interest to practitioners. For information on presenting or submitting a paper contact the IFoA directly, email

Open Access

As of January 2017 (Volume 22) newly published articles in BAJ will be Open Access

  • Freely available for anyone to read and share, immediately upon its publication, in PDF and HTML format
  • Published under Creative Commons licensing that allows anyone to make copies of, redistribute and re-use the work without asking for permission, provided that proper attribution is given

The journal will also publish in an online-only format from 2017. BAJ’s archive (Volumes 1 to 21) remain pay to access. The cost of publishing open access in BAJ is funded by the Institute and Faculty of Actuaries (IFoA). There are no article processing charges or other author-facing fees.

Copyright and Licensing

Articles are published under a Creative Commons attribution (CC-BY) licence as standard, making them freely available to read, distribute and re-use for commercial or non-commercial purposes. However, if they wish, authors may elect an alternative licence for their work. For full information on what each license allows to end users, please see this guide on the Cambridge University Press Open Access pages.

Authors must complete and return a copyright declaration transferring copyright to the Institute and Faculty of Actuaries once their article has been accepted for publication. Please check each article for the specific license and the re-use conditions that apply.

If you have any third-party material in your article please ensure you have received appropriate permissions as outlined in the Third Part Materials section, below.

Submission Criteria

All papers should be written in English (UK). The style should be reasonably formal, but should be as clear and understandable as possible. Enough information should be included to allow a reader to reproduce any mathematical or numerical results.

Each paper must include an abstract, keywords and contact details of relevant authors. The abstract, which should be about 100-200 words, should be written so that others are encouraged to read the paper. It should give the main objectives and conclusions of the paper.

Papers should be submitted electronically, using pdf format. If the paper is accepted, a Word or .Tex version (with pdf) will also be required and all diagrams and figures provided electronically in tif, gif, jpeg or eps format. Authors should follow the below style guide for the formatting of their paper.

All published work should be acknowledged, and references given. The author is responsible for securing written permission to include any copyrighted material. Notwithstanding any scrutiny and any alterations made, authors remain solely responsible for the accuracy of all material provided and views expressed. Submitted papers should not have been copyrighted or submitted for possible publication elsewhere at the same time as being submitted to BAJ. Any previous publication, for example in conference proceedings, should be notified at the time of submission.

For more information about the British Actuarial Journal, please visit:

BAJ style guide for formatting of papers

Please supply copies of original application files – namely, Word or .Tex files following the standard layout for a BAJ paper (Text files must be accompanied by a PDF, as a guide for the typesetter).

Order of paper

Each paper contains:

  • title
  • author(s) name(s)
  • date and place of presentation (if appropriate)
  • abstract
  • keywords
  • correspondence details
  • introduction
  • text (all paragraphs should be numbered)
  • acknowledgements
  • references and
  • appendix(ces)


The title of the paper has an initial capital only, e.g.:

Pensions and mortality data

Author’s name(s)

The author or authors’ name(s) are below the title with an asterisk denoting the corresponding author e.g.:

Robert Smyth* and Len Brown

Date and place of presentation

This follows directly on from the author names in the format, e.g.:

[Presented to the Institute and Faculty of Actuaries, London: 23 September 2013; Edinburgh: 18 November 2013]


All papers require an abstract. This should be a summary of the paper, in one long or two or three short paragraphs. e.g:

Mortality data are often classified by age…………………………………………………………etc

The abstract should not contain references and should be between 100-200 words.


Choose keywords that give an indication of what is of interest in the paper, normally not more than five words or short phrases, e.g.:

Pension shares; Valuation methods; Market values; Funding; Pricing

Note that keywords should have an initial capital.

Correspondence details

The name and contact address of the corresponding author with e-mail address must be given at the bottom of the first page as, e.g.:

*Correspondence to: Robert Smyth, Department of Statistics, University of Southampton, Southampton, SO10 1AG, UK. E-mail:

Main text

All sections are numbered and each section (apart from the introduction) should be divided into numbered sub-sections. All paragraphs need to be numbered within each section/subsection as a reference point during the discussion at sessional research meetings.

1. Introduction
The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog.

2. The quick brown fox
The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog.

2.1. The quick brown fox again
The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog. The quick brown fox jumped over the lazy brown dog.

3. etc

N.B. If using acronyms the full name/title must be given at the first mention followed by the initials in brackets e.g. Pensions Management Institute (PMI) which can then be subsequently referred to as PMI.


If formulae are numbered, do so consecutively after each formula with the number placed in brackets e.g.
bΦij(l;t) = P[Z(t) = j|Z(0) = l], (1)


Often authors like to include acknowledgements to those who have helped them in the development of their paper. These should appear at the end of the main text. e.g:


We are most grateful to the University of Bristol for their help and funding of this paper.


References in the text should be in the following form:

Smith & White (1990)
(see Jones et al., 1975).

If there are two authors ‘&’ should be used between surnames, if more than two, only the first named author’s surname should be used followed by et al., see above example.

Place brackets around the year if appearing in the text, if appearing within bracketed comments, a comma should follow the authors’ names before the year, see above examples.

List of references

The full references must be given in this section and ALL references must be cross-referenced within the text. References are in alphabetical order by first author, and in date order for any one author. If URLs are given, the date of access must be shown.


Jones, E.F., Hughes, G.H. & Thomas, J.K. (1975). The Lazy Brown Dog. Fox Publishing.

All authors’ names must be shown, with surname first, followed by initials, & before the last name, year in brackets followed by a full stop.

Journal references – full title of paper, followed by journal name in full and in italics. Volume number follows in bold, followed by page numbers (not in bold).
Smith, A.B. & White, C.D. (1990). The Quick Brown Fox. British Actuarial Journal, 10, 71-139.

Book references – book title in italics, followed by edition (where given), formatted as e.g. 4th ed. Publisher name next, followed by place, formatted as e.g. Wiley, Chichester.

If the same author(s) and year of publication are referred to more than once they must be distinguished by a, b etc. e.g.
Brown (2008a, b) in text and in references list as
Brown, B. (2008a). Pensions crisis. Annals of Actuarial Science, 2, 21-46.
Brown, B. (2008b). Pensions. Cambridge University Press.

If URLs are used the access date must be included e.g.
COSO (2004). Enterprise Risk Management - Integrated Framework. [accessed December 2009].

If a paper was presented some time ago, please check if it has subsequently been published in a journal, if so the journal reference needs to be given.

See for further information on referencing.


Appendices must follow the references.

Figures, tables and illustrations

When using figures, tables and illustrations throughout the paper, please follow these guidelines.

General guidelines

  • All figures and tables should be numbered throughout the paper, and should have a heading or caption.
  • Please use explicit references to the figures and tables in the text (e.g. ‘see table 4’). Avoid words like ‘above’ and ’below’, as after typesetting the figures and tables might not appear as they do in the manuscript.
  • All figures should be supplied as separate files. Please do not embed the figures in the text.
  • Please ensure that the material you submit is of the best possible quality – see below for more details.
  • Please do not use tinted panels or surrounding borders.
  • Figures, tables and illustrations can be published online in either black and white or full colour. Please submit illustrations in the format you wish them to be published (ie black & white illustrations in black and white and colour illustrations in colour).

Preparation of illustrations

  • Illustrations should be provided in TIFF (.tif) or vector EPS (.eps) format.
  • If you wish to use shading to differentiate areas on the figure, please check your software to see if there are options such as patterns, textures or a range of tones (tints) within black.
  • The range of tones (tints) in greyscale illustrations should not be less than 15%, and not more than 85%. When creating a scale or using different densities to highlight areas in the illustration, it is best to use increments of 15 or 20%. Any increments of less than this may be hard to differentiate.
  • Colour illustrations should be saved in CMYK colour mode
  • The descriptions of figures in text and captions must be sufficiently clear.


  • Colour and halftone images must be saved at 300dpi at approximately the final size. If you are unsure of the final size, please save at a higher resolution to allow for resizing.
  • Please supply original photographs in TIFF format, saved at a minimum resolution of 300 dpi at the correct size for reproduction in the journal. If a TIFF format file is not available, please provide a high resolution JPEG file.
  • Images downloaded from the internet tend to be ‘low resolution’, that is 72 or 96 dpi. This means that they will not be of adequate quality when published. If you wish to use an image which appears on a website, please contact the site’s administrator, or the creator of the image, and obtain a copy of the high resolution original.
  • If you are providing scanned copies of the original image, please make sure that you scan at a minimum resolution of 300 dpi, at the size (or larger than) they will be reproduced.
  • If you wish to reuse an illustration or photograph from a printed book, you must obtain a copy from the original artwork rather than scan from the printed copy. Please remember it is the author’s responsibility to seek the relevant permissions.
    • Line illustrations

      • Please provide the original file in either TIFF format, saved at 800 - 1200 dpi (dots per inch), or vector EPS format, at the correct size for reproduction in the journal.
      • In line drawings, do not use line weights that will be less than 0.5 points at final size to ensure clarity
      • Please set figure labels in 9pt Arial, Helvetica or a similar sans-serif font. Labels should be set in lower case with an initial capital (e.g. 'Energy levels').
      • Maths labels should be typed exactly as they appear in the text. For example if a symbol appears in italic in the text or equation, it should also appear in italic in the figure.
      • All fonts should be embedded.
      • Common packages such as Adobe Illustrator have options which allow you to output to TIFF or EPS, and we would prefer it if you could supply your files in this format.
      • Submit figures sized to fit the actual column or page width of the journal so that reduction or enlargement is not necessary.
      • Submit multipart figures in one single electronic file.
      • Note that some software packages are generally NOT suitable for publication and these include:

        • Microsoft PowerPoint files
        • Images created in Microsoft Word
        • GIFF images downloaded from the web

      General Cambridge instructions for artwork may be found at:

      Third Party Material

      In order to include a figure from a third party source in your article it must either: a) already be available under a Creative Commons license or; b) you must have gained permission from the rights holder to use it in your work.

      A sample letter is available here to help authors obtain permission to re-use figures and other material from third parties.

      If you obtain permission to republish third party material and it is under copyright, please indicate the copyright holder in your article, e.g. in the figure caption
      Republished with permission from Small et al. (1996), Developmental Biology (© Elsevier, 1996, All Rights Reserved). Reuse not permitted.

      If the third party material is available under a Creative Commons license, this should be noted in the caption e.g.
      © 2009 Greg Grossmeier, under a Creative Commons Attribution-ShareAlike license:

Last updated January 2017