All members of the Institute and Faculty of Actuaries (IFoA) who hold practising certificates are Category 1 members

The overall requirement for Category 1 members under the CPD Scheme 2017/2018 remains the same with members required to complete 30 hours of learning activities. As in previous years, at least 20 hours must relate to learning on technical skills, and 10 of those hours must be obtained at 'external events'.

Category 1 members must complete two hours of Professional Skills Training, as set out in Schedule 3 to the Scheme.

Beyond that, you are free to determine the appropriate mix of activities for your own learning needs.

The only stipulation within the Scheme is that learning activities:

  • are relevant to your work or role; and
  • address a personal development need.

This two stage test comprises the definition of CPD within the Scheme in relation to both technical and professional skills requirements.

Learning outcomes

Category 1 members are required to record a learning outcome for all CPD activities.

A learning outcome is defined in the CPD Scheme as, 'a description of the knowledge and/or skills which the member gained as a result of taking part in the CPD activity'.

A very short summary or a couple of bullet points which record the benefit gained from the activity is all that is required. In some circumstances, you may consider that the description of the event accurately reflects the benefit you gained from the activity and, in such cases, it will be enough to record that information as your learning outcome. The important thing is that you reflect on what you have gained from the activity in question and note that down.

It is important that you read the CPD Scheme 2017/2018 in full to familiarise yourself with the requirements and your responsibilities under it.

If you have any questions please contact cpd_feedback@actuaries.org.uk

 

Category 1 - Definition
All members who hold a practising certificate issued by the IFoA are Category 1 members for the purposes of this Scheme.

CPD year

The Category 1 CPD year runs for one full year from the relevant date.

Category 1 members’ obligations under this Scheme shall have effect from the relevant date.

Requirements

Category 1 members must complete at least 30 hours of CPD in the course of each CPD year.

Of those 30 hours, a minimum of 20 hours must relate to technical skills.

Of those 20 hours relating to technical skills, at least 10 hours must be obtained at an external event.

Category 1 members must complete two hours of Professional Skills Training (PST) Professional Skills for Experienced Members as set out in CPD Scheme 2017/2018 Schedule 3. Time spent completing the relevant PST requirement may be counted towards the overall 30 hours requirement.

The balance of members’ minimum requirement may be gained through such other activities as each member deems appropriate taking into account the nature of their work  or role and their personal development needs.

Category 1 members are not permitted to count time engaged in private study towards their minimum CPD requirement.

Category 1 members must record a learning outcome for each CPD activity listed in their on-line CPD record.

Recording CPD

Category 1 members must record their CPD in their on-line CPD record by the end of their CPD year.

Failure to record

Category 1 members who fail to comply with the requirements of this Scheme will not be entitled to renew their practising certificate until such time as their compliance has been addressed to the reasonable satisfaction of the IFoA.

Evidence of CPD

Category 1 members must retain evidence of their participation in the activities listed in their on-line CPD record for a period of two years from the date of the activity and must produce that evidence to the IFoA upon request.

Related documents

Contact Details

If you have any enquires about CPD, please contact the Membership Team

cpd_feedback@actuaries.org.uk

We aim to respond to all enquiries within two working days.