You are here

Career breaks

Career breaks can be a wonderful opportunity, however, planning for them can also be a daunting experience – especially in a field where the sharpness of your practice is so crucial, where change is a constant and where competition is intensifying.

Career breaks take many forms: sabbaticals for study or travel, parental leave, illness, care roles, or unemployment, perhaps following redundancy.

Here is how actuaries can make their IFoA membership work for them in these situations:

Personal details

Please ensure that you keep your contact details up to date during your absence so that you do not miss any important communications from us.

Reduced subscription fees

If your income during the subscription year falls below the threshold for your membership status, you can apply for reduced rate IFoA membership subscription.

Reduced CPD requirements

If you have been, or anticipate being out of work for a period of time, you may be eligible for an exemption to the full requirement of CPD. The exemption will be dependent on your CPD category and the length of your absence. Find out more about CPD exemptions.

Retaining your Practising Certificate

As a certificate holder, if you have been, or anticipate being out of work for a few months, you will need to demonstrate at least three months relevant technical experience in the 18 months to your application date. This could be before or after (or both) the career break (providing the period(s) fall within 18 months of the application date). When facing a career break, it is important to work with your employer to plan a programme of reserved-type work to support renewal of your certificate. Please contact practising.certs@actuaries.org.uk for guidance.

Keeping up to date

While you are away from paid work, you should ensure that you keep up to date with the profession. IFoA membership offers many ways to do this: events, The Actuary, and our journals and research publications.

Networking

IFoA membership opens up many networking opportunities. You can build your network and enhance your lifelong learning through engagement in volunteer roles and with our professional communities. Your perspective will be valued – so get involved!

“In 2012 after a career break to bring up my young daughter, I was ready to go back to work. The best advice I was given was from a senior actuary who suggested I join an IFoA working party and make new, valuable contacts that way. I had to build up my network and do something to raise my profile. I needed to engage with the profession.”

Carole Ryden FIA

IFoA Buddy System

Through the IFoA Buddy System you can get in touch with other members for independent peer support.

Actuarial Mentoring Programme

The IFoA support the Actuarial Mentoring Programme (AMP). On your return to work, this scheme might be able to help you. Designed initially to help retain female actuaries within the profession, the programme is now also open to male actuaries experiencing a career transition.

For those who have been out of work for a while, many of the larger employers of actuaries offer Reconnection programmes. Here are a few of them:

Filter or search events

Start date
E.g., 12/08/2020
End date
E.g., 12/08/2020

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.

  • Examination Preparation

    Webinar
    10 September 2020

    Spaces available

    IFoA Webinar on Examination guidance for those candidates sitting Examinations in September, delivered by the Education Actuaries

  • 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.