Members must complete at least 15 hours of CPD activities in total, of which 5 hours must be obtained at 'external events'.
Your Professional Skills Training (PST) requirements are reflected in the Scheme. Depending on your background, you may be required to complete either Stage 2 or 3 of the PST. Please refer to the Scheme for full details. All time engaged in PST activities may be counted towards your overall 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.
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 firstname.lastname@example.org
Category 2 - Definition
All Fellows and Associates of the IFoA who do not hold a practising certificate on 1 July 2019 and who have not been classified as retired by the IFoA are Category 2 members for the purposes of this Scheme.
The Category 2 CPD year runs from 1 July 2019 to 30 June 2020. Category 2 members’ obligations under the Scheme shall have effect from 1 July following their transfer to Fellow or Associate.
Category 2 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.
The balance of Category 2 members’ minimum requirement may be gained through such other activities as the individual member deems appropriate taking into account their work or role and their personal development needs.
Category 2 members must also complete one of the following Professional Skills Training (PST) stages in each CPD year:
- Stage 3 Professional Skills for Experienced Members (or read CPD Scheme Schedule 3)
Most fully regulated Fellows and Associates will have completed Stage 2 of the PST before reaching Category 2 and will therefore be required to undertake Stage 3 each year.
- Stage 2 Professional Skills Course (or read CPD Scheme Schedule 2)
Category 2 members who have not yet completed Stage 2 of the PST must do so within one year of transferring to the category of Fellow. Members will progress to Stage 3 of the PST in the following CPD year.
Time spent completing the relevant PST requirement may be counted towards the overall 15 hours requirement.
Category 2 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 2 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 2 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.
Category 2 members working overseas
Category 2 members may elect to satisfy the requirements of this Scheme by complying with one of the recognised International Actuarial Association (IAA) bodies’ CPD Schemes (listed in Schedule 5 to the Scheme).
Members who choose to comply with another IAA body’s CPD requirements must complete the relevant Category 2 PST component in each CPD year, as set out at section 4.6 of the Scheme.
Category 2 members who fail to inform the Membership team of their decision to comply with an IAA body’s Scheme by the 31 July 2020 deadline will be granted an extension to 30 September 2020, upon making payment of an administration fee.
Category 2 members who elect to comply with one of the IAA bodies’ schemes must retain evidence of their compliance:
- with the chosen IAA scheme; and
- with the relevant PST requirement,
for a period of at least two years from the date of each event and must produce that evidence to the IFoA upon request.
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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.
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.
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.
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.
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.
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.
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.
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.