Each year you are required to submit PPD. You will have a unique date to submit your records by, this is usually the date you joined the IFoA and is known as your ‘annual PPD deadline date’. You will need to submit a minimum amount of PPD per year and your records should evidence work-based activities that closely match the 30+ competencies available. There is also an annual requirement to record formal learning activities in addition to the competencies.
PPD Objectives and Competencies
There are three objectives that have to be completed. These set the minimum standards you need to demonstrate in the work place:
- Effective Communication
- Problem Solving and Decision Making
Each of the objectives contains a range of competencies, including certain mandatory competencies which you must complete before you qualify. You may select which to complete however we expect at least one from each objective. Ideally you will have a range across all three. You may complete the same competency more than once, however it must relate to a different activity and learning outcome. Each competency carries a value of 1 or 2 credits. These weightings reflect the importance attached to each objective. You will need to complete a minimum amount of credits per year and overall in order to qualify.
In addition to recording your credits you will also need to record at least two hours of formal learning and development activities each year. These must be unconnected with the actuarial exams and activities you have completed for CPD. Such activities can include attendance at meetings of local actuarial societies, technical and business presentations, company arranged training and actuarial related seminars.
Qualification requirements for IFoA students who joined before 2 January 2019
|Minimum number of months PPD required||Minimum number of credits required||Minimum credits per year||Minimum hours of formal learning activity total|
|Associate||12 Months||10||3||2 hours|
|Fellow||36 Months||20||3||6 hours (2 per year)|
Qualification requirements for students who joined on or after 2 January 2019
|PPD for joiners from 2019||Minimum number of months PPD required||Number of credits required||Minimum credits per year||Minimum hours of formal learning activity total|
|Associate*||24 Months||15||3||4 hours (2 per year)|
|Fellow||A further 12 months||A further 5 credits||3||A further 2 hours|
*Associateship Qualification must be obtained before progression to Fellow. View the 'PPD for 2019 joiners' page for further information
Minimum Work Experience Requirements
If you are submitting the minimum amount of work experience, you should make sure you wait to submit your final sign off and work experience documents until the full 12/36 (Associate/Fellow) months have passed.
If the period of time covered in your work experience is less than 12/36 months you will not be able to submit your application earlier, even if you have no further PPD to record. If you have more than the minimum months recorded and you have met the requirements to qualify you may submit at any time.
Each PPD record requires:
1. An activity description
The description should be a concise overview of the activity you are referencing. You should avoid jargon and abbreviations and it should be able to be understood by someone who is not familiar with your work. There is a limit of 250 characters for the activity description. If you are preparing your draft submission in Microsoft Word, the IFoA recommends using Microsft Office packages from 2010 onwards for an accurate character limit.
2. A learning outcome
The learning outcome is where we expect to see the main body of the submission. It should be a descriptive and self-reflective piece of writing describing what learning or development you took from the activity and how you will use this in the future. This ‘reflection’ is an important business skill which you need to develop throughout your professional career. There is a limit of 1024 characters for the learning outcome. If you are preparing your draft submission in Microsoft Word, the IFoA recommends using Microsft Office packages from 2010 onwards for an accurate character limit.
3. An activity date
This must be the date you undertook the activity within the PPD year. It is not possible to retrospectively add activities to previous years or edit information once the year has reset.
4. Confirmation that you have discussed the PPD record content with your supervisor or line-manager
This is indicated by ticking the appropriate box and is a mandatory requirement of submitting your PPD. We may contact your supervisor for confirmation of the activity you are describing.
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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'.
Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators
Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.
Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.
This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place.
Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.
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
This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern
This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.
Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.
Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.