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Category 1

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 2019/2020 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.

A maximum of 5 hours may be gained from private study and count towards a Category 1 Member's minimum CPD requirement.

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 2019/2020 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 2019/2020 Schedule 3. Time spent completing the relevant PST requirement may be counted towards the overall 30 hours requirement.

A maximum of 5 hours may be gained from private study and count towards a Category 1 Member's minimum CPD 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 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.

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Events calendar

  • Spaces available

    A Trusted Profession

    This free 1 hour CPD webinar is designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020 and 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.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC. 

  • Fully booked.

    This event is now fully booked. To join the wait list, please register here.

    Get ready for the new CPD Scheme launching on 1 September. Join us for a discussion on what the new Scheme will look like in practice. There will be an opportunity to field questions to the IFoA Executive on how the Scheme’s requirements will affect you.

  • Asia Conference Webinar Series

    Webinars
    1 September 2020 - 24 September 2020

    Spaces available

    There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia.  The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.

    This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.

     

  • Spaces available

    In this webinar we will provide an insight into enterprise-wide risk management in banking, showing similarities to the world of insurance as well as identifying differences. Just as insurance companies have to submit an ORSA, so bank’s have to submit their own equivalent, the Internal Capital Adequacy Assessment Process or ICAAP.

  • Spaces available

    This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements. 

    The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise.  In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.