It has been agreed for those Fellows of the Institute or Faculty of Actuaries who are also Fellows of another country's Actuarial Association, that meeting the CPD requirements of that Association may count in full or in part towards meeting the mandatory CPD requirements of the UK Actuarial Profession which were introduced on 1 July 2006. To assist this process, the International Education and CPD Committee of the Actuarial Profession is carrying out a comparison of CPD schemes and have constructed the matrix below as a guide to comparing the CPD schemes of other Actuarial Associations with that of the UK Actuarial Profession. The matrix is work in progress and will be added to as the Committee progresses the comparisons.

Any member who wishes to use this method for fulfilling the requirements should write the following on their on-line CPD form:

I am permanently resident and practising in <country> and subject to the CPD scheme of <name of body>. I have fulfilled this scheme in the most recent year.

UK Actuarial Profession

Mandatory? Yes for all working actuaries
No of hours: 15
No relevant hours: 10 in practice area for Category 2
Formal or verifiable: Verifiable or personally assessed
Professionalism content: Category 2: 2 hrs a year and attendance at professionalism event every 10 years (not for outside UK)
Exemptions: Only if not working at all
Own firm: 'Some' external for Category 2
Other requirements: At least 4 entries per year for Category 2
Verdict:

Institute of Actuaries of Australia

Mandatory? Yes
No of hours: 40
No relevant hours: No specific requirement
Formal or verifiable: Verifiable
Professionalism content: Should include business environment - but professionalism not specified
Exemptions: If retired or similar and not providing a professional service
Own firm: Not specified but most applicable categories are external
Other requirements: Member to exercise judgement; compliance certified at annual renewal of membership; records to be retained for 5 years
Verdict: Encourage to include some professionalism and to make sure it is not all with own firm

Canadian Institute of Actuaries

Mandatory? Yes
No of hours: 50*
No relevant hours: 12* hours must be structured; min of 6* hours on technical skills
Formal or verifiable: Verifiable
Professionalism content: At least 2* hours on professionalism and 2* hours on business and management skills
Exemptions: Those not practising, retired or unemployed. Associates still sitting exams
Own firm: No restriction
Other requirements: Online CPD record. Annual cert. of compliance. Members must satisfy Rule of Professional Conduct 2 "A member shall perform professional services only when the member is qualified to do so
Verdict: Unless in one of exempt categories

Actuarial Society of South Africa

Mandatory? Only for formal statutory roles
No of hours: 15
No relevant hours: Not specified
Formal or verifiable: Personally assessed
Professionalism content: Not specified
Exemptions: Recommended for all
Own firm: Up to 7.5 hours of 15 permitted
Other requirements: Should be relevant to South African practice. Based on old UKAP scheme
Verdict: Only if meeting full requirement but should encourage to include some professionalism. ASSA may update scheme in light of new UKAP scheme

New Zealand Society of Actuaries

Mandatory? Recommended practice
No of hours: 70
No relevant hours: 15 hours in core activities
Formal or verifiable: Personally assessed
Professionalism content: Professionalism Course recommended
Exemptions: No specific exemptions but only recommended practice
Own firm: No restrictions
Other requirements:
Verdict: Only if meeting full requirement. Encourage to include some professionalism and to make sure it is not all with own firm

Society of Actuaries in Ireland

Note: The Society of Actuaries in Ireland has adopted the UK Actuarial Profession's CPD scheme

Mandatory? Yes, for all working actuaries
No of hours: 15
No relevant hours: 10 in practice area for Cat 2
Formal or verifiable: Verifiable or personally assessed
Professionalism content: For Cat 2: 2 hrs a year and attendance at professionalism event every 10 yrs (not for outside UK)
Exemptions: Only if not working at all
Own firm: 'Some' external for Cat 2
Other requirements: At least 4 entries a year for Cat 2
Verdict: