Continuing professional development scheme
Members pride themselves on their learning, not only at the point of entry to the profession but throughout their careers. One quality that distinguishes a profession is the acceptance of a responsibility, in the public interest, to keep levels of knowledge and competence current throughout a professional career through their CPD Scheme, a rigorous programme of professional development (CPD Scheme).
Whatever stage you are at in your actuarial career, our Continuous Professional Development (CPD) Scheme helps you to stay ahead of the game - enabling you to decide how best to update your knowledge to fulfill your professional obligation to act in the public interest.
Discover details of the CPD categories and how requirements can be fulfilled in the CPD brochure Developing knowledge - building skills.
Our members' acceptance of that obligation is embodied in the principle, set out in the Actuaries’ Code, that: “Members will keep their competence up-to-date”. The code also requires members not to act unless they have an appropriate level of relevant knowledge and skill, or are acting on the advice of someone who has that level of relevant skill and knowledge. It is therefore important to recognise that these obligations fall on all of our members whatever role they perform - whether they are in paid or unpaid work or working full or part time.
Changes to CPD Scheme
We give practical expression to this obligation by requiring most of our members to undertake a set minimum amount of continuing professional development (CPD). We also keep the operation of our CPD scheme under regular review. In the light of recent experience, we have introduced an important change to the scheme, which will ensure that the great majority of our working members are subject to the same minimum requirements. This will address the very real issue that, under the existing regime, a number of members are not required to complete any specific amount of CPD despite holding positions of significant responsibility and influence, in many cases because of their membership of the profession.
There are only two CPD categories:
Category 1: All members holding a UK Practising Certificate; and
Category 2: All other members in paid work (with some exceptions which are explained in detail below).
This helpful decision tree can be used to help you determine which category you fall into under the new scheme:
Additionally, changes have been made to ensure that members in Category 2 are now better able to complete CPD which is relevant to their specific area of work. Therefore, there is no longer any specific requirement as to the breakdown of hours between technical and professionalism skills for these members. Instead, each member must make his or her own assessment of the type of development which would best suit the specific area of work. This is specified within the scheme. This change, when taken with the ability to include some element of private study within the requirements, will also make it easier for our members based in geographical locations outside major UK cities to source relevant CPD.
Any failure by a Fellow or Associate to comply with our CPD scheme may be grounds for referral under our disciplinary schemes.
For queries about the CPD scheme, please contact cpd_feedback@actuaries.org.uk.
Full details of the CPD scheme can be found in the boxes at the right of this page.