We understand that there may be times in your professional life when personal circumstances mean that you find it hard to meet your professional obligations: health issues or other life events can take over and make it hard to prioritise matters such as CPD deadlines, Practising Certificate renewals or renewing your membership subscription.
There are a number of practical ways we can support you through such times, for example:
- Exercising discretion where procedural deadlines are missed by Members suffering from health issues, for example missing the last date for payment of a subscription fee;
- Helping members manage their CPD or their Practising Certificate applications.
The first step is to get in touch with the Membership Team or by telephone on 0131 240 1325 to explain your situation.
We will appoint a senior member of the team to help you with your regulatory obligations.
Some practical examples to illustrate the support that may be offered by the IFoA:
A non PC-holding Fellow or Associate alerts the Membership Team to the fact he/she will be unable to undertake CPD due to health issues.
During a period of ill health, Members will be treated as being Non-Practising under the CPD Scheme. They do not need to apply for the status, but should notify the Membership Team so that we can mark this in their record and confirm their pro-rata requirement, if applicable.
A PC holder advises the Membership Team that he/she expects to be on leave for reasons of health issues for at least 12 months.
PC holders who are absent from work due to ill health are deemed to be Non-Practising members under the CPD Scheme for the period of their absence and should complete CPD on a pro-rata basis. In terms of the additional CPD requirements under the PC Scheme, these may also be completed on a pro-rata basis. We do ask that members notify us of that status so that we can update their record and confirm their pro-rata requirements.
Advise the Member of the options open to him/her if he/she chooses not to renew his/her certificate when it expires, for example, allowing the certificate to lapse and being able to renew within 18 months of the date of expiry of the previous PC.
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As part of the ARC Webinar Series 2021, this webinar will review the work of the UEA/Aviva research team over the last four years on a major research programme funded by the IFoA’s Actuarial Research Centre.
Climate change poses a significant threat across many regions and sectors, and businesses. Insurers and asset managers, must play a role in ensuring transparency around climate related risks and opportunities.
Whilst insurers have been performing stress and scenario testing for many years, in the last 12 months the PRA has increased its focus on the ability to identify, measure and increase financial and operational resilience.
There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.
This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.
This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)
What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.
Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'.
Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.