Any member can apply for Non-Practising status if they are not currently involved in technical actuarial work.
This might include members who have retired completely or it might include those members who are working but not involved in technical actuarial work, such as those acting as Non-Executive Directors or Trustees. Whether work is paid or not is not relevant to your eligibility.
Applications can only be made where a member has, or intends to have, that status for 5 weeks or more (other than in relation to absence for parental or medical reasons where there is no such limitation). This will reflect in their entry in the Actuarial Directory.
For those that are absent for parental or medical reasons please consult the Absence from Work Policy .
How do I apply for Non-Practising status?
What happens if I hold Non-Practising status for less than a full CPD year?
The requirement for the rest of the year will be on a pro rata basis according to the number of weeks that your status is no longer in place (rounded down to the nearest week). The hours requirement will be rounded to the nearest minute. The Membership Team will be able to confirm this.
Parental Leave, Adoption Leave or Sick Leave
Members who are on parental leave or are absent from work for health reasons, will be deemed to have Non-Practising status for the period that they are away from work. The Actuarial Directory will not reflect any change in status if the reasons for absence relates to parental or medical leave. Please consult the Absence from Work Policy .
You do not need to apply for the status, but you should notify the Membership Team by email so that they can mark this in your record and confirm your pro-rata requirement.
What happens if I change status during the year?
Please notify the Membership Team. Your CPD requirement for the year would be pro-rated from the time of the change of status. If you are unclear about what that means in practice then the Membership Team can help.
Does Non-Practising status affect my IFoA membership in any other way, such as my subscription rate or the professional standards that apply to me?
No, the status does not have any bearing on your membership, other than to exempt you from the CPD Scheme. Your category of membership, subscription and access to member benefits all remain the same, as do your professional requirements such as compliance with standards and the Actuaries’ Code.
You are not obliged to apply for Non-Practising status even where you are eligible for it. For those members not carrying out any technical actuarial work, you can, of course, elect not to apply for Non-Practising Status and to remain in scope of the Scheme, if that suits your particular circumstances better. In those circumstances, Members will not be noted as Non-Practising in the Actuarial Directory. You should contact the Membership Team if you have any questions about your Membership category or the subscription rates that would apply to you.
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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The IFoA’s Actuarial Review Team has published its first thematic review, which looked at the actuarial advice given by scheme actuaries to UK pension scheme trustees on setting transfer values and commutation rates.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann.
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IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.