The Actuate Newsletter is a bi-annual publication which focuses on the current topics and issues concerning the life insurance industry. The latest edition of the Actuate starts off by taking a detour from the regular Solvency II articles and looks National Employment Savings Trusts (NEST). Our second article looks at stress and scenario testing in particular the development of management actions and the third article highlights the role of the actuarial function in a Solvency II world. It considers where this function sits and whether it forms an operating or controlling role in this new world.