It is important that you read the CPD Scheme 2019/2020 in full to familiarise yourself with the requirements and your responsibilities under it.
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Category 4 - Definition
All members who are Certified Actuarial Analysts of the IFoA on 1 July 2019 and who have not been classified as retired by the IFoA are Category 4 members for the purposes of this Scheme.
The Category 4 CPD year runs from 1 July 2019 to 30 June 2020. Category 4 members’ obligations under the Scheme shall have effect from 1 July following their qualification as a Certified Actuarial Analyst.
Category 4 members must complete at least 15 hours of CPD in the course of the CPD year. Of those 15 hours:
- a minimum of 5 hours must be obtained at an external event; and
- a minimum of 2 hours of stage 3 Professional Skills Training (PST)
Category 4 members must record their CPD activities, and any learning outcomes corresponding to private study activities, for the CPD year in their on-line CPD record by 31 July 2020.
Category 4 members who fail to record their CPD by the deadline will be granted an extension to 30 September 2020, upon making payment of an administration fee.
Evidence of CPD
Category 4 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 event and must produce that evidence to the IFoA upon request.
For the purposes of the Scheme, a relevant learning outcome shall constitute evidence of private study.
- 1 February 2018
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The International Accounting Standards Board (IASB) recently published an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022.
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.
Presenter: Rahul Verma
Presenter Matt Modisett
An introductory session to help you get ahead with climate change.
- Science, terminology and initiatives: handy facts to keep in your back pocket
- Getting your point across: how to influence people and avoid common traps and pitfalls
- Taking action: what are actuaries expected to do...and what are we actually doing?
This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
- FCA business plan priorities
- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.
Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better?
It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.
The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October. The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters.
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.
Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.