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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 the third Report to Members, which provides an update on the annual review of the Practising Certificates Scheme and includes current statistics and some further information on restricted certificates.

The previous reports can be found below:

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

Timings and costs

Initial applications can take up to 30 days to process. The 30 days is measured from the date the fully complete application is received and has been checked by the Membership Team.

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 £910. 

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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  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Fully booked.

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Sustainability Series: Biodiversity loss and financial risk: Bloom or Bust?

    1 November 2021

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    The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.

  • Sustainability Series: The Global Actuarial Response to Climate Change

    4 November 2021

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    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • GIRO 2021 Webinar Series

    Online
    8 November 2021 - 19 November 2021
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    Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.

  • Proposals for changes to the regulatory framework on climate change and sustainability

    11 November 2021

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    This is a free webinar with an expert panel providing their views on the ongoing IFoA consultation for proposals regarding changes to the regulatory framework on climate change and sustainability.

    The regulatory consultation sets out, for feedback some proposed approaches that the IFoA are considering in relation to charter commitments under the UK’s Green Finance Education Charter (GFEC) and the regulatory framework, including the Actuaries’ Code.

  • Life 2021 Webinar Series

    Online
    22 November 2021 - 26 November 2021
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    Join leading experts to discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • What next for Mental Health in Insurance?

    1 December 2021

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    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.