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Transfer of Prior Learning

Individuals who are not, and have never been members of the IFoA but wish to transfer their prior learning to complete their actuarial qualification with the IFoA, can do so through this route.

What is Transfer of Prior Learning?

Transfer of Prior Learning (TPL) is the method by which the IFoA assesses whether members of other actuarial associations, where mutual recognition exists with the IFoA, and who wish to complete their qualification with the IFoA, may be eligible to receive credit for their learning. This will be assessed on a portfolio basis, and not a subject by subject basis. Typically this might be for career, employment or changes in location reasons.

Who is it for?

Individuals who have completed examinations with another Actuarial Association (listed below)[1] and wish to complete the remainder of the examinations with the IFoA to qualify as an Associate or Fellow. Applications must be based on passes/exemptions from a single association. This will normally be the association that the applicant is a member. Applications based on passes with multiple actuarial associations will not be accepted.

This is a once in a lifetime application and individuals will need to decide at what stage in the qualification process they wish to apply, recognising the minimum requirement described below. They cannot add subjects to the portfolio after their application for recognition of TPL has been submitted, and subsequently joined as a student member of the IFoA.

Individuals who are successful in applying through the TPL route, but subsequently leave the IFoA before qualifying, will not be able to apply to join the IFoA through mutual recognition once qualified with another association.

Who can apply for a Transfer of Prior Learning?

  1. An application for Transfer of Prior Learning must be completed before you join as a student member of the IFoA. You will be advised to submit your membership application once your transfer for prior learning has been considered.
  2. You cannot request a Transfer of Prior Learning once you have joined the IFoA or if you subsequently pass an examination with another Actuarial Association once you have joined the IFoA.
  3. Requests for Transfer of Prior Learning will be reviewed on an individual basis and those who wish to apply will need to provide supporting evidence that their examination passes are equivalent to IFoA syllabus.
  4. If individuals are successful they will be required to join the IFoA. The process of converting the passes to the IFoA must be completed before an individual takes their first examination.

Who cannot apply for Transfer of Prior Learning?

  1. Existing student members of the IFoA. However, student members who joined the IFoA between 1 August 2019 and 29 January 2020 holding exemptions from another actuarial association should consult Education Services to discuss their individual circumstances.
  2. Student members who have already applied, and been successful, in their Transfer for Prior Learning application.
  3. Individuals who have previously been members of the IFoA and have subsequently resigned or lapsed their membership.

What counts as a portfolio?

There will a minimum threshold of subjects required for an application to be accepted. These will normally be in actuarial mathematics and actuarial statistics, equivalent to the IFoA subjects: CS1, CS2, CM1, and CM2. Applicants will be required to demonstrate broad equivalence to the IFoA syllabus in these areas, in terms of content, cognitive level and assessment. Those who exceed this minimum requirement will also be able to apply for additional subjects that map to the IFoA syllabus. These may include subject’s equivalent to the IFoA: CB1, CB2, CP1, CP2 and CP3, and any of the later SP specialist subjects, but not the SA subjects

Please note, the IFoA will not accept a portfolio that contains examinations passed from the Indian Actuaries Institute from the December 2018 exam sitting.

What do I need to submit to request a transfer of my prior exam passes?

Please download and complete the Transfer of Prior Learning form and send it to the Education Services with your supporting evidence.

When is this effective from?

This is effective immediately.

What is the IFoA looking for in a Transfer of Prior Learning Application?

You will need to provide evidence of both suitability and sufficiency that your examination passes cover the learning outcomes of IFoA subjects and that your assessments are to the standard of IFoA exams:

  • Suitability, i.e. there is a match between the supporting evidence you provide and the learning outcomes of the IFoA subjects you are applying transfer for.
  • Sufficiency, i.e. the evidence you have submitted is sufficient to demonstrate that you have achieved competence equivalent to the standard of the IFoA examinations and syllabus objectives.

How much is it going to cost me?

There will be a non-refundable application fee of £250.

If your Request for Transfer is accepted, the usual exemption fees will be chargeable on a per subject basis. Details of fees can be found on the Exam Fees webpage.  You will also be required to pay the applicable annual student subscription fee.


[1] SOA, CAS, AIA, ASSA, IAI

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Events calendar

  • SIAS Event: Actuaries in Non Traditional Fields Talk 1/3

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 March 2020

    Spaces available

    "Advising funeral trusts - avoiding the pitfalls and not getting burnt" 

    In response to our members feedback, for our 2020 programme we are planning 3 talks that explore the work the actuaries do in non traditional actuarial fields. The 1st talk in the trilogy will be presented by Graeme Muir and Nigel Sloan who will cover some of the issues you might need to think about if asked to advise a funeral trust or a similar body - neither pensions nor life assurance.

  • Spaces available

    Investors globally are embracing ESG but what does this involve and can ESG be measured? Louise Dudley, Global Equity Portfolio Manager at Hermes Investment Management will outline the taxonomy often used when talking about ESG (exclusion, screening, engagement, sustainable, impact, responsible investing), talk about the importance of stewardship and engagement, and showcase evidence to the question as to whether ESG adds va

  • KSS event: How is Scotland’s population changing and what are the implications?

    New Register House, 3 West Register Street, Edinburgh
    5 March 2020

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

  • Actuarial valuations to monitor defined benefit pension funding

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    9 March 2020

    Spaces available

    This paper addresses one of the fundamentals of actuarial practice: assessing the solvency of a defined benefit pension scheme. It is timely as The Pensions Regulator is reviewing its code of practice on funding, providing an opportunity for the actuarial profession to contribute to an important matter of public interest.

    Sessional paper access code: 56DF2B25

  • Highlights of the Life Conference 2019 - London

    America Square Conference Centre, 17, One Crosswall, America Square, London EC3N 2LB  
    11 March 2020

    Spaces available

    This event will cover the highlights from last year's Life Conference 2019 held in Dublin. The Conference Committee has reviewed session feedback and has put together a high-quality technical programme featuring the best-reviewed sessions from the conference. Book now to ensure your place.

  • Insurance Investment Roundtable (IFoA & PRA) - Register your interest

    Aviva, St Helens, 1 Undershaft, London, EC3P 3DQ
    11 March 2020

    Few spaces available

    The IFoA hosts regular roundtable meetings with the PRA on best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.

    These roundtables are organised by the IFoA’s Finance and Investment Practice Board, supporting its members with access to relevant information on industry and regulatory developments. They have been attended by a diverse group of IFoA members, including insurance CIOs and Heads of ALM, actuarial and investment consultants, insurance asset managers, and investment bankers. 

  • Insurance Investment – Prudent Person Principle & CP22/19

    Aviva, St Helens, 1 Undershaft, London, EC3P 3DQ
    11 March 2020

    Spaces available

    At this event, Alan Sheppard (Head of Insurance Policy, Bank of England) will provide insight into the PRA’s oversight of insurance investment activity and the recent Consultation Paper on the Prudent Person Principle.

    The Finance & Investment Practice Board of the IFoA has hosted regular roundtable meetings with the Prudential Regulation Authority (PRA) covering best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.

  • Worshipful Company of Actuaries Lecture - Mortality Myths

    George Porter Lecture Theatre B University of Leicester University Road Leicester LE1 7RH
    18 March 2020

    Spaces available

    Jointly hosted by the Worshipful Company of Actuaries (WCA) and the Leicester Actuarial Science Society (LASS).

    Stuart McDonald, Head of Demographics at Lloyds Banking Group, will give us a mortality update, dispelling a few myths along the way!

     

  • Spaces available

    The IFoA and its Social Impact Investment Working Party are delivering a webinar to introduce social impact investing and explore the role of actuaries in this growing field. The presenters will use their international experience of this significant and growing market to:

  • Board agenda: Why Responsible Investing, ESG, and Climate Change matters to Pension Funds, Companies

    Staple Inn, 4 High Holborn, Holborn, London. WC1V 6DR, UK
    19 March 2020

    Fully booked.

    Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?

  • KSS event: A Cashless Society- Benefits, Risks, Issues and Developments

    Deloitte, 4th Floor, Saltire Court, 20 Castle Terrace
    19 March 2020

    Spaces available

    Speaker: Iain Collier, Chair of the CSWP

    The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.

    There will be an extended Q&A session at the end of the event.

  • Professional Skills Training - Edinburgh (19 March 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    19 March 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Spaces available

    In the webinar, Stuart Hitchcock, Head of Portfolio Management for Private Credit, within LGIM Real Assets, will provide some insight into the nature of the private credit markets. Discussion will evolve around development of the markets and lending landscape, key investment characteristics including structural and legal protections, public vs private investments, advantages and drawbacks for borrowers, and attractiveness for investors.

    The webinar will also focus on describing the investment process such as origination through execution, credit, structure, pricing, on-going asset management, portfolio construction within private markets.

  • Spaces available

    What are the advantages of using artificial intelligence (AI) in investing? What are the differences between traditional quant and AI? This new webinar, part of a series of four webinars leading to the annual Finance & Investment Conference 2020, discusses challenges and the future of AI in the investment sector.

  • Spring Lecture 2020: Live Streaming at Staple Inn - Vicky Pryce

    Staple Inn Hall, High Holborn, London, WC1 V 7QJ
    25 March 2020

    Spaces available

    This event will be live streamed from Edinburgh. 

    The Brexit Budget: What next for the UK economy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming

    Webinar
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Professional Skills Training - London (26 March 2020)

    Staple Inn, High Holborn, London WC1V 7QJ        
    26 March 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • Current Issues in General Insurance (CIGI) 2020

    Hilton London Tower Bridge, 5 More London Riverside, Tooley St, London SE1 2BY
    22 April 2020

    Spaces available

    CIGI is a well-established one-day seminar designed to increase awareness and encourage discussion on a variety of topical issues across the general insurance industry. 

    There will be an excellent and diverse line-up of speakers to provide a variety of perspectives and challenge covering technical and professional areas. 

  • Professional Skills Training - Edinburgh (29 April 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    29 April 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (29 April 2020)

    Staple Inn, High Holborn, London WC1V 7QJ         
    29 April 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • The Global Actuarial Profession

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 April 2020

    Spaces available

    There is a great deal of commonality amongst the actuarial profession worldwide but there are significant differences too. Listen to four presidents compare and contrast how the actuarial profession is dealing with data science, climate risk and consumer finance, amongst other topics.

  • KSS event: Technology: A red-eyed Terminator or an actuary’s best friend?

     Hymans Robertson, Exchange Place 1, 1 Semple Street, Edinburgh, EH3 8BL
    4 May 2020

    Spaces available

    Despite long-running concerns that innovation could lead to widespread redundancy, technology has enabled greater productivity, created higher-value jobs and spurred us on to new heights. With artificial intelligence increasingly automating work undertaken by professionals, I look at the prospects for the actuarial profession in the era of unprecedented technological innovation.

  • Finance and Investment Conference 2020

    Royal College of Physicians, 11 St Andrews Pl, London NW1 4LE
    05-05 May 2020
    Spaces available

    Join us at this year’s Finance and Investment Conference in London that will focus on ESG. The environmental, social and governance (ESG) space is growing rapidly and increasingly moving centre stage. In many cases, it is now an essential part of policy and central to the way stakeholders make decisions for the long term to ensure retention of clients, manage risk better, and ensure more economically efficient and sustainable investment returns.

    ESG factors cover a wide range of areas reflecting how vital consideration of these factors are part of wider systemic risks.

  • Professional Skills Training - Edinburgh (19 May 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    19 May 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (19 May 2020)

    Staple Inn, High Holborn, London WC1V 7QJ         
    19 May 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • CILA 2020

    Royal College of Physicians, 11 St Andrews Pl, London NW1 4LE
    20 May 2020

    Spaces available

    CILA is aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries. It will also be of interest to all those who work in, or advise on, the life assurance market in the UK and Europe. The programme this year features a timely mix of hot topics including sessions on:

  • Protection, Health and Care Conference 2020

    The Grand Brighton, 97-99 Kings Rd, Brighton BN1 2FW
    02-03 June 2020
    Spaces available

    The Protection, Health and Care Conference is an annual conference aimed at all insurance professionals with a passion for harnessing insurance risk in their organisations.

  • Mortality and Longevity 2020

    1 Birdcage Walk, Westminster, London SW1H 9JJ
    08-08 June 2020
    Spaces available

    This highly regarded seminar will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity.  The program is designed for life, pensions and health and care actuaries, academics, researchers, underwriters and related practitioners eager to learn about the latest developments in mortality and longevity.  The sessions are designed to be very accessible to a broad range of exp

  • Professional Skills Training - London (10 June 2020)

    Staple Inn, High Holborn, London WC1V 7QJ       
    10 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - Edinburgh (17 June 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    17 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (18 June 2020)

    Staple Inn, High Holborn, London WC1V 7QJ   
    18 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Pensions Conference 2020

    Renaissance Manchester City Centre Hotel, Blackfriars Street, Manchester,M3 2EQ
    18-19 June 2020
    Spaces available

    Join us as this year’s conference that will focus on topics including  funding and savings, pension law current issues, ESG, the end game and transferring risk, investment issues, data visualisation and data science.

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
    Spaces available

    Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:

    • the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
    • the widening application of actuarial science in achieving social impact and sustainability goals.

    Early registration discount is now open until 1 April.  10% group discounts are offered to a minimum of six IFoA booking in a single transaction. This also applies to ASM members.  Limited spaces are available, so please sign-up early to avoid disappointment.