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Practising Certificates

Practising Certificates are granted by the Institute and Faculty of Actuaries (IFoA) in the following categories:
  • Chief Actuary (Life)
  • Chief Actuary (non-Life without Lloyd's)
  • Chief Actuary (non-Life with Lloyd's)
  • Chief Actuary (Life, Non-Directive)
  • With-Profits Actuary
  • Lloyd's Syndicates.
  • Scheme Actuary

Regardless of whether you are applying for a Practising Certificate (PC) for the first time, or renewing an existing Certificate, you must read and understand the Practising Certificates Scheme (PC Scheme) before making your application.

Report of the Practising Certificates Committee

The Chair of the Practising Certificates Committee (PCC) has produced for the first time a Report to Members to provide some background on the work of the PCC. The report also includes some stats and useful information for members to help ensure that their applications go smoothly. 

This report should be of particular interest to practising certificate holders, and those who plan to become practising certificate holders. 

Changes to the Practising Certificates Scheme effective 1 September 2018

A review of the Practising Certificates Scheme has been carried out and changes to the Scheme came into effect on 1 September 2018.  A summary of the changes is set out in the communication from Des Hudson, Chairman of Regulation Board.

Visit the Changes and amendments page for a brief summary of all changes to the Practising Certificates Scheme.

Timings and costs

Initial applications can take up to 30 days to process; however this timeline is not wholly in the IFoA’s control and no commitments can be made as to the actual date a Practising Certificate will be granted (assuming a PC is granted).

Renewal applications must be submitted at least 21 days before your current certificate expires. If an application is received after the 21 day deadline a penalty fee of 25% of the cost of the certificate will be applied.

The current cost of a Practising Certificate is £890.

Practising Certificates for Chief Actuaries

Roles for which a certificate is required:

  • The Chief Actuary with accountability for the actuarial function under Article 48 of the Directive on Solvency II
  • Reviewing Actuary to a Solvency II firm

New (initial) applications

All initial applicants are subject to an Identity and Basic Criminal Record Check.  More details on how to undertake the check can be found here.

Renewals

Practising Certificates for Life actuaries

Roles for which a certificate is required:

  • Appropriate Actuary
  • Reviewing Actuary to a non-Solvency II firm
  • Small Insurer Chief Actuary
  • With Profits Actuary

New (initial) applications

All initial applicants are subject to an Identity and Basic Criminal Record Check.  More details on how to undertake the check can be found here.

Renewals

Practising Certificates for actuaries providing opinions for Lloyd's syndicates

Roles for which a certificate is required:

  • Lloyd's Actuary
  • Syndicate Actuary.

New (initial) applications

All initial applicants are subject to an Identity and Basic Criminal Record Check.  More details on how to undertake the check can be found here.

Renewals

Practising Certificates for Scheme Actuaries

Role for which a certificate is required:

  • Scheme Actuary

New (initial) applications

All initial applicants are subject to an Identity and Basic Criminal Record Check.  More details on how to undertake the check can be found here.

Renewals

Appeals

You may appeal against a decision of the Practising Certificates Committee to refuse a practising certificate application in certain circumstances. The appeals process is set out in full in this document.

Related documents

Contact Details

If you have any enquiries about Practising Certificates please email or write to the Membership Team

practising.certs@actuaries.org.uk

Institute and Faculty of Actuaries, Level 2 - Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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Events calendar

  • IFoA & PRI Webinar: TCFD – leaders and challenges

    Online webinar
    2 September 2019

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    In collaboration with the Institute and Faculty of Actuaries, the Principles of Responsible Investment is delighted to host this webinar discussing the response to the TCFD’s recommendations two years on from their publication. The webinar will feature new analysis of the 591 investors representing $45 trillion who responded to PRI’s 2019 climate indicators, insights from the past Chair of the IFoA’s Resource and Environment Board as well as an investor case study of implementation in practice from Aviva. 

  • SIAS Event: Climate Zero to Climate Hero

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    3 September 2019

    Spaces available

    An introductory session to help you get ahead with climate change.

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  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

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    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

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  • Professional Skills Training session (Jointly held with China Life)

    China Life Insurance, Beijing •  China Life Shanghai Office • China Life Shenzhen Office  
    6 September 2019

    Spaces available

    Friday, 6 September, Beijing Local Time (CST) 14.00-16.30; British Summer Time (BST) 07.00-9.30

    The IFoA Beijing Office and China Life are pleased to be co-hosting a Professional Skills Training (PST) session in Beijing, Shanghai and Shenzhen on Friday, 6 September. Wen Li (FIA), the IFoA Lead Representative in China and East Asia, will lead the PST presentation and discussion on ‘Getting it right!’.

    The main venue will be in Beijing. Members in Shanghai and Shenzhen can join the interaction with Beijing via video conference at China Life’s regional venues. (see full details below)

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
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    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

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  • Chief Actuaries and Senior Life Actuaries Workshop 2019

    Staple Inn Hall High Holborn London WC1V 7QJ
    2 October 2019

    Spaces available

    This workshop, now in its sixth year, is aimed at senior actuaries working in life insurance - predominantly Chief Actuaries, but also Reviewing Actuaries and others working in risk and financial reporting. It will provide seven hours of relevant CPD.

  • The Future of the Actuarial Profession

    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

    Fully booked.

     

    Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.

  • Sessional: Applying Actuarial Theory and Techniques in Non-Traditional Areas - A ‘Green’ Case Study

     9 Queen St, Edinburgh EH2 1JQ
    7 October 2019

    Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

  • RSS/IFoA Data Science Ethics: the role of practitioners

    Royal Statistical Society, 12 Errol St, London EC1Y 8LX
    7 October 2019

    Spaces available

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    Join us for the launch of this new guidance, with a high-level panel discussion which will explore the role of data science practitioners and professional bodies in data ethics. 

  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

    Spaces available

    The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October.  The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters. 

  • ARC Event: Beyond Proportional Hazards

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 October 2019

    Spaces available

    ARC Event: Beyond Proportional Hazards: Statistical methods for assessment of the impact of medical advances and health interventions on longevity and population projections.

    This workshop is being delivered by the Actuarial Research Centre’s (ARC) ‘Big Health and Actuarial Data’ Research Programme.

  • Hot Topics in Health and Care: Networking and Drinks

    Staple Inn, 4 High Holborn, London WC1V 6DR
    4 November 2019

    Spaces available

    This evening will feature two new cases studies that highlight the implications for insurers of issues impacting on health and mortality for life, pensions, and health and care products; Impactability modelling: a worked example in Type II diabetes presented by Josephine Robertson, and Seasonal Mortality in England and Wales 1993-2016 presented by Mary Hall, Dublin City University.

  • Autumn Pension Seminar

    Grand Connaught Rooms, 61-65 Great Queen St, Holborn, London WC2B 5DA
    13 November 2019

    Spaces available

    Join us for this brand new seminar that brings together our Current Issues in Pensions, Pensions and the Law, and Investment for Pension Actuaries events. The seminar builds on the IFoA’s Annual Pension Conference with sessions covering CDC, TPR’s code of practice, investments, legal updates and Professional Skills Training with a focus on interactive discussion throughout.

    • KSS event: How is Scotland’s population changing and what are the implications?

      Barnett Waddingham, 163 West George Street, Glasgow, G2 2JJ
      14 November 2019

      Spaces available

      The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

      • population statistics
      • life expectancy
      • changes in age structure
      • birth and death rates, including causes of death statistics.

    • Life Conference 2019

      The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
      20-22 November 2019
      Spaces available

      The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

    • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

      Lincoln's Inn The Treasury Office, London WC2A 3TL
      2 December 2019

      Fully booked.

      The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.

    • Autumn Lecture 2019: Live Streaming

      Webinar 
      2 December 2019

      Spaces available

      Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP. 

    • Behavioural Finance Research Launch- 14 January 2020

      Staple Inn, 4 High Holborn, Holborn, London WC1V 6DR
      14 January 2020

      Spaces available

      We are delighted to announce the launch of the findings from our ARC funded Behavioural Finance research with a special evening event at Staple Inn on Tuesday14th January 2020. Entitled Behavioural Aspects of Institutional Investment Decision-Making, this research programme is being delivered by City, University of London, Leeds University Business School and Ipsos.