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Current consultations

We seek the views of actuaries, their employers and other interested parties, including users of actuarial advice and regulators, on a range of consultations and discussion papers

Consultation on proposed changes to the Regulatory Framework on Climate Change and Sustainability

The Institute and Faculty of Actuaries (IFoA) has today launched a consultation on proposals for changes to the regulatory framework on climate change and sustainability.

The consultation sets out, for feedback, some proposed approaches that we are considering in relation to our charter commitments under the UK’s Green Finance Education Charter (GFEC) and our regulatory framework, including the Actuaries’ Code. The aim is that these proposals will benefit our Members and support them to ensure they are aware of and equipped to deal with their professional responsibilities related to climate change and sustainability issues.

The consultation will close on 2 December 2021.

We encourage Members, employers, users of actuarial work and others with an interest in this topic to read the proposals and give us your views. 

Download the full consultation package here.

Take part in the online consultation:

https://www.surveymonkey.co.uk/r/TMQ5N69

Download the MS Word version of the consultation survey here

Consultation on Practising Certificates (PC) Scheme Proposals

The Institute and Faculty of Actuaries (IFoA) is consulting on proposals for changes to its Practising Certificates (PC) Scheme, which is a key part of the IFoA’s UK regulatory framework.

The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

The review identified a number of ways in which we believe the scheme can be improved to ensure that it is as effective, fair and proportionate as possible, including proposals that should make the process more efficient for applicants to do

The proposals would also change the IFoA’s approach to and process for determining the suitability of candidates for PCs.

The proposals would involve:

  • More emphasis on the initial PC application stage than on annual renewals;
  • The introduction of a competency-based criteria (rather than the current requirements for technical experience of particular work), and
  • Enhanced support for Members throughout the different stages of the PC process, including the pathway to being a PC Holder.

Stephen Mann, IFoA Chief Executive Officer says that: “being a PC Holder brings a mix of recognition, value and responsibility for specialist and senior roles. The proposed changes to the PC Scheme supports the IFoA’s commitment to providing value to its members and by modernising our key processes so that they remain effective but are pragmatic and easier for our members to experience. I also hope that the proposals further demonstrate that we listen to the feedback we get from members as to how the scheme can be improved, as well as to make it more user-friendly”.

All members, and non-members, views are invited. You can complete the questionnaire in the consultation package or on Survey Monkey.

If you have questions around the proposals, you will shortly be able to book a place on our webinars through the IFoA website which are scheduled to be held on 27 May and 30 June 2021.

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Contact Details

If you have any enquiries about current consultations please email

regulation@actuaries.org.uk

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Events calendar

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    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.

  • Spaces available

    In this webinar, we will discuss how cause-of-death data from the Office for National Statistics can help us to understand how inequalities arise at the all-cause level. The key to understanding mortality inequality is to think about the chain that connects risk factors, relative risks, and cause-of-death mortality through to all-cause mortality.

  • Spaces available

    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.

  • Spaces available

    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
    Spaces available

    Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.

  • Spaces available

    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.