The subscription year runs from 1 October to 30 September each year regardless of the date you join the Institute and Faculty of Actuaries (IFoA).
Subscription payments become due for renewal on 1 October, and must be paid by 31 December to avoid cancellation of your membership. If your subscription remains unpaid by 31 December, your membership will be cancelled.
Our new membership subscription fees have been designed around principles of fairness, welfare, and sustainability, to better reflect the benefits of IFoA membership, while delivering value for money for you and your employers. Find out more at: Subscriptions 2023 to 2024: FAQs
You will also need to pay a one-off admission fee of £50.
Subscriptions 2023 to 2024
Our new membership subscription fees have been designed around principles of fairness, welfare, and sustainability, to better reflect the benefits of IFoA membership, while delivering value for money for you and your employers. Find out more at: Subscriptions 2023 to 2024: FAQs
Optional subscriptions
The IFoA also collects the optional subscriptions for the Staple Inn Actuarial Society and for the specialist sections of the International Actuarial Association (IAA).
On the IAA website, you can find information about the IAA Sections.
You can subscribe to any of the optional subscriptions when renewing your membership in your online member portal.
Dual membership status
Fellows and Associates of the IFoA who are members at the equivalent level of another actuarial body, which is a full member association of the International Actuarial Association (IAA), may apply for dual membership status. This will entitle them to pay the dual member subscription fee as noted in the membership subscriptions table (PDF, 126 KB).
If you meet the criteria set out in the subscription policy (PDF, 200 KB), please complete the dual membership application form online in your new member portal. New applications for 2023 to 2024 must be made by 10 December 2023 to be eligible for the dual member subscription rate.
Reduced rate subscription: income based
If your income falls below the threshold for your membership status, you can apply for a reduced rate subscription. The income threshold and subscription rate for each category of membership for 2023 to 2024 is listed in the table below. Your income is calculated on your gross annual income from all sources, as defined by the UK government rules on taxable income.
Applications for a reduced rate subscription (income-based) can be made online in the membership tab on your member portal. You will be required to submit evidence of your income at the time of application.
Membership status
Income threshold
Fellow
Less than £8,300 = eligible for lower reduced rate of £83
Between £8,301 and £25,999 = eligible for mid-tier reduced rate of £260
Equal to or above £26,000 = full rate of £750
Associate
Less than £8,300 = eligible for lower reduced rate of £83
Between £8,301 and £25,999 = eligible for mid-tier reduced rate of £260
Equal to or above £26,000 = full rate of £550
Certified Actuarial Analyst
Less than £8,300 = eligible for lower reduced rate of £83
Student Actuarial Analyst
Less than £8,300 = eligible for lower reduced rate of £83
Student
Less than £8,300 = eligible for lower reduced rate of £83
Reduced rate subscription: non-income based
Fellows and Associates can apply for a reduced rate non-income based subscription if you (one of the criteria below):
are registered as non-practising under the terms of the CPD Scheme
are not in work that relies upon your actuarial training and experience, in the widest interpretation, or on your membership of the IFoA
work in an actuarial role for less than 20 hours during the subscription year
can demonstrate exceptional circumstances that would justify the application of the reduced rate, such as serious ill health
If your application is approved the:
subscription fee for Fellows is £375
subscription fee for Associates is £275
Members who are fully retired from paid employment will benefit from the lower reduced rate of £83 and do not need to apply. However, you will need to advise us of your retired status at memberservices@actuaries.org.uk.
Reduced rate non-income subscription fees are only applicable to Fellows, Associates, and Certified Actuarial Analysts.
How to apply for a reduced rate non-income subscription
Before you can pay your annual subscription, you are required to complete your online CPD declaration. This can be done in the member portal. Look for 'My CPD' and the CPD declaration.
We offer a range of ways to pay your annual subscription. The easiest way to pay is online in your member portal. Please ensure you have all the information you need before starting the payment process and you are using an up-to-date version of your internet browser.
IFoA offers 2 online payment options: credit or debit card and PayPal. Should you face any issues paying with one option, we encourage you to try the other. UnionPay is accepted through PayPal.
Bank transfer
Use the details below and send a copy of the remittance advice to memberservices@actuaries.org.uk. This is so we can allocate your payment.
Bank details
Account name:
Institute and Faculty of Actuaries
Account number:
08671990
Sort code:
56-00-20
SWIFT
NWBKGB2L
IBAN
GB98NWBK56002008671990
Credit or debit card
Simply log in to your member portal. Or you can call us on +44 (0)131 240 1325.
We accept Visa, Mastercard, and American Express.
PayPal
Simply log in to your member portal. Select to pay by PayPal.
Annual direct debit
If you would like to set up a direct debit to pay us annually direct from a UK bank account please contact us, at memberservices@actuaries.org.uk. Please have your sort code and account number to hand.
Before making payment by any method, please ensure that your subscription renewal notice shows the correct subscription rate.
Guide: paying fees and making a CPD declaration
Payment of subscriptions and making an annual CPD declaration are requirements of your ongoing IFoA membership. The below series of questions and answers will help guide you through the process.
You can submit your online CPD declaration for the previous CPD year from 1 September each year. Your CPD declaration must be made online before you can submit your subscription payment. Once you have submitted your CPD declaration, your subscription fee will become available for payment.
Log into your member portal
Click CPD
Click CPD status
Click submit CPD declaration
Subscriptions become due on 1 October each year and should be paid by 31 December. All unpaid membership subscriptions as at 31 December will result in the membership being lapsed due to non-payment.
Log in to your new member portal
Select Membership from the menu on the left-hand side
Select Action required
Select Renew, then proceed to Checkout
Click Pay now and follow the payment instructions
Enter your card details and submit
A receipt for the payment will become available within 24 hours of a successful payment
Log into your new member portal
Select Membership from the menu on the left-hand side
Select Action Required
Select Renew, then proceed to Checkout
Click Pay by BACs and this will generate your BACS Reference Number which is needed to make payment
Once you have generated your BACS Reference Number, you can make the bank transfer using your BACS Reference Number as the reference
A remittance advice quoting your BACS reference number is required to accompany all BACS payments. The remittance advice should be sent to the Member Services team email address (memberservices@actuaries.org.uk). Please ask your bank to quote your BACS reference number when doing the transfer. This will enable us to allocate the payment against your record.
Please send your payment to:
Account name: Institute and Faculty of Actuaries
Account number: 08671990
Sort code: 56-00-20
SWIFT: NWBKGB2L
IBAN: GB98NWBK56002008671990
Bank name: NATIONAL WESTMINSTER BANK PLC
Bank address:
HOLBORN CIRCUS BRANCH
No 1 HATTON GARDEN
LONDON
EC1P 1DU
A receipt for your payment will become available within 24 hours of the funds being received and processed.
You must ensure that your CPD declaration is made before sending the payment. Failure to make a declaration may result in your subscription fee being returned to you.
Please ensure that you submit your annual CPD declaration within one month of your direct debit payment being collected. Failure to make a declaration may result in your subscription fee being returned to you.
All members are required to submit an annual CPD declaration before renewing their membership.
Fellow/Associate/Affiliate/Certified Actuarial Analyst members
You are required to confirm your CPD status and, if you are in scope of the CPD Scheme, that you have met the CPD requirements for the CPD year.
If you are registered as Non-Practising, you will be asked to confirm your status.
Student/Student Actuarial Analyst members
Whilst you have no CPD requirement, you are required to submit a declaration to confirm your status as a student, and that you are exempt from the CPD requirements.
Life members
Whilst you have no subscription to pay, you are required to submit a CPD declaration to confirm your status.
Honorary members
Whilst you have no subscription to pay, you are required to submit a CPD declaration to confirm your status.
A member of our team will be in touch to discuss this further with you.
Please ensure that the members included in your bulk payment have submitted a CPD declaration before sending.
If you send a bulk payment, we will process the payment and advise you if any of the members included have not made their declaration.
Whilst it is the members responsibility to ensure that the declaration is made, we may have to return the subscription fee to you if the declaration remains outstanding on 31 December.
Please send a copy of your remittance advice and payment breakdown to the Member Services team email address. We will let you know when it has been received and processed.
If you would like to pay for your subscription on our secure payment line or need any help with your CPD declaration, we can be contacted on +44(0)131 240 1325, 09:00 to 17:00 (UK time), Monday to Friday.
Resources
Subscriptions 2023 to 2024: FAQs
We answer some important questions you might have about our 2023 to 2024 subscription fees.
