A new CPD Scheme was launched on 1 September 2020, which was tailor made for IFoA members. The new Scheme is a hybrid approach setting out an hours based requirement but with a focus on the outcomes of activities.
- Download the Scheme
- Read the Frequently Asked Questions
- Read more about the review and the consultation on the CPD Scheme
Who does the Scheme apply to?
The new Scheme applies to all IFoA members, except:
- Students, who instead have requirements under PPD
- those working in organisations that adopt the QAS CPD Scheme and
- those with 'Non-Practising Status'.
What are the requirements?
Members are required to carry out 15 hours of CPD Activities, including two hours of Professional Skills Training. Read more about the definitions in the Scheme here.
Members must keep a record of these activities in the format of their choosing, to assist their reflective practice discussions. Read more about how you can record your activities here.
Every year members should arrange and conduct a reflective practice discussion with an Appropriate Person, who is someone that understands your role, the nature of your work, and the outcomes of your CPD activities.
Some members will also be selected for an additional reflective practice discussion with a member of the IFoA Executive. Read more about reflective practice discussions here.
When renewing membership in September, members will be asked to confirm their compliance with their CPD requirements from the previous CPD year.
Practising Certificate Holders
Members who are granted a Practising Certificate have an additional CPD requirment, as set out in the Practising Certificates Scheme.
The Frequently Asked Questions provides more information.
Exemption and Non-Practising Status
You can apply for Non-Practising status by completing this short online form.
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If you have any enquires about CPD, please contact the Membership Team
We aim to respond to all enquiries within two working days.
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As part of the ARC Webinar Series 2021, this webinar will review the work of the UEA/Aviva research team over the last four years on a major research programme funded by the IFoA’s Actuarial Research Centre.
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Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'.
Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.