Exemptions from compliance with the CPD Scheme
In terms of Paragraph 1.2.2 of the CPD Scheme (“the Scheme”) the Institute and Faculty of Actuaries may grant any member an exemption from complying with the requirements of the Scheme.
The profession may choose to grant an exemption where the member can show that either:
- their actuarial training and experience, in the widest interpretation, and their membership of the profession, make no contribution to their paid work*; or
- they have not been or will not be engaged in paid employment over the course of the CPD year for a total of more than twenty hours; or
- there are exceptional circumstances, such as serious ill health, which prevent the member from complying with the requirements of the Scheme.
* Note: Exemptions will only be granted under this category in exceptional cases, for example, to those members employed to carry out purely manual labour or working in the performing arts. Exemptions will not be granted to those in Non-Executive Director or Trustee roles or in senior roles, more generally.
When considering an application for exemption, the profession will have regard to whether, in the applicant's circumstances it is in the public interest to require that he or she complies with the Scheme.
Members who wish to apply for an exemption may do so using the Exemption Application form listed in the associated documents box on the right hand side of this page.
All applications must be received by the Membership Team no later than 30 April.
Where any application for exemption is declined, members will have the right to appeal the decision to the Membership Committee, with the opportunity to provide further information which was not considered at the time of the original determination.
Members must notify the profession of their intention to appeal the decision to refuse an exemption within 28 days for the decision letter.
Expiry of exemption
Please note that any exemption granted will expire at the end of each CPD reporting year. Any exemption granted for the 2012/2013 CPD year will expire on 30 June 2013, and a new application will be required to be submitted and considered for the CPD year 2013/2014.