The new IFoA CPD Scheme comes into effect today. The new approach to continuing professional development has been tailor-made for IFoA members and has been hailed as an important step in modernising the profession.
Neil Buckley, Chair of the IFoA Regulation Board, said: “This is an exciting moment for the IFoA. We want members to feel inspired to learn in the way that is right for them and their individual career paths.
“After such a positive response to the consultation we look forward to hearing from members how the Scheme works for them.”
The scheme applies to all members, except Students, those working in an organisation that adopt the QAS CPD Scheme and those with non-practising status.
It requires members to do 15 hours of activities, including two hours of professional skills training, to keep a record of such in the format of their choosing, and to have reflective practice discussions.
A much broader range of activities can count towards the requirement, provided they have an identifiable learning outcome and address a learning need.
During the reflective practice discussion, which will take place once CPD is completed for the year, members have the opportunity to discuss what their learning needs or development goals were for the year, how those were addressed by their activities, and whether any gaps in their knowledge remain.
The IFoA hopes that in supporting members to focus more on their professional objectives and the outcomes of their activities, this will result in more meaningful learning for all.