Update on merger discussion

On 24 February 2010, the Joint Councils of the Faculty and the Institute formally agreed to put a vote on a merger between the Faculty and the Institute to eligible members. The Councils agreed the detail of the merger package and the timeframe for the vote.

Separate Special General Meetings of the Faculty of Actuaries in Scotland and the Institute of Actuaries will be held at 1700GMT on Tuesday 25 May 2010 to vote on separate Resolutions to form the Institute and Faculty of Actuaries.

The key elements of the merger package include:

• a proposal to call a merged body ‘the Institute and Faculty of Actuaries’;
• revised governance documents reflecting the input from the member consultation;
• a proposal for both existing and new members to use the existing letters FIA, FFA, AIA and AFA;
• a proposal to continue using ‘the Actuarial Profession’ for all external branding.

Ronnie Bowie and Nigel Masters have written jointly to Faculty and Institute members to inform them of this decision.

All materials relating to the merger can be found here. This includes:

• a copy of the governance documents, which are still open for member comment;
• a summary of the joint proposal by the Faculty of Actuaries in Scotland and the Institute of Actuaries;
• communication guidelines relating to any merger-related communication with members.

To further facilitate fair, open and reasonable debate, members are invited to form identified groups of 10 or more to present their collective view of the merger package to the membership. More details about forming a group can be found here.

Members can join the discussions on the merger on the merger forum at http://www.actuarialforums.com/

If you have misplaced your login ID, please click on the link “send reactivation email”. If you have misplaced your password, please click on the link “I forgot my password”. Members can also email questions and queries to merger@actuaries.org.uk