- 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
- Application for a Chief Actuary (Life) certificate
- Application for a Chief Actuary (non-Life without Lloyd's) certificate
- Application for a Chief Actuary (non-Life with Lloyd's) certificate
- Experience example page for a Chief Actuary (Life) certificate
- Experience example page for a Chief Actuary (non-Life) certificate
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
- Application for the renewal of a Chief Actuary (Life) certificate
- Application for the renewal of a Chief Actuary (non-Life without Lloyd's) certificate
- Application for the renewal of a Chief Actuary (non-Life with Lloyd's) certificate
- Experience example page for a Chief Actuary (Life) certificate
- Experience example page for a Chief Actuary (non-Life) certificate
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
- Application for a Chief Actuary (Life,Non-Directive) Certificate
- Application for a With Profits Actuary (WPA) Certificate
- Experience example page for a Chief Actuary (Life,Non-Directive) Certificate
- Experience example page for a With Profits Actuary (WPA) Certificate
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
- Application for the renewal of a Chief Actuary (Life,Non-Directive) Certificate
- Application for the renewal of a With Profits Actuary (WPA) Certificate
- Experience example page for a Chief Actuary (Life,Non-Directive) Certificate
- Experience example page for a With Profits Actuary (WPA) Certificate
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
- Application for a certificate to provide UK actuarial opinions for Lloyd's syndicates
- Experience example page
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
- Application for the renewal of a certificate to provide UK actuarial opinions for Lloyd's syndicates
- Experience example page
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
- Application for the renewal of a certificate to act as a Scheme Actuary to pension schemes
- Experience example page
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
-
Practising Certificates Scheme
18 November 2020 -
Practising Certificates regime appeals process
24 August 2017 -
CPD Scheme Version 1 September 2020
1 September 2020
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
Filter or search events
Events calendar
-
Pensions: Actuarial Factors used to Calculate Benefits in UK Pension Schemes
Webinar28 January 2021The IFoA’s Actuarial Review Team has published its first thematic review, which looked at the actuarial advice given by scheme actuaries to UK pension scheme trustees on setting transfer values and commutation rates.
-
India Town Hall
Webinar28 January 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann.
-
Winter Thought Leadership Lecture with Vicky Pryce
Webinar3 February 2021What are the options for the world economy looking ahead?
In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.
-
Professional Skills Training Webinar - 9 February 2021
Webinar9 February 2021Trust and Leadership for Actuaries
Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:
-
Health and Care Hot Topics webinar
Online webinar10 February 2021In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.
Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.
-
As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.
-
Sub-Saharan Africa Town Hall
26 February 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
-
MENAP Town Hall
2 March 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.