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Regulators FAQ – Chartered Actuary proposal

Are you de-valuing your qualification?

Absolutely not. The IFoA qualifications are highly regarded as being market leading in terms of quality. The re-positioned Associateship and the introduction of the Chartered Actuary designation maintains the IFoA's commitment to producing globally recognised, relevant and distinctive high quality qualifications.

What impact will this have on actuarial Fellowship roles that are defined in legislation?

It won’t have any impact if they align with Fellowship, which will continue to exist and to be required for the time being for certain reserved roles in the UK and elsewhere.

How will you ensure that your actuaries remain competent?

CPD remains an important feature of our regulatory environment that brings confidence in the work of actuaries. The proposed changes to the qualification framework will not change this requirement.

What impact will this have on the Practising Certificate regime?

The IFoA is currently reviewing the Practising Certificate regime and is considering a number of options. For the time being, Fellowship will continue to be required in order to obtain an IFoA practising certificate.

What impact will this have on CPD requirements?

CPD requirements remain an important feature of our regulatory environment that helps to bring confidence in the work of actuaries. We will continue to review the specific CPD requirements to ensure that they remain appropriate, including to take account of these proposed changes.

Where can I find out more?

A dedicated email address (consultation@actuaries.org.uk) has been set up where you can send us any questions you might have about the proposal. We will respond to any queries within five working days, and will refresh the FAQ section on the website regularly in light of queries received.

Please also spend some time giving us your feedback via our consultation survey. 

We will also hold two interactive webinars during the consultation period on 11 December at 9.00 and 17.00 (GMT). You can register for the consultation webinars here.

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Start date
E.g., 23/09/2020
End date
E.g., 23/09/2020

Events calendar

  • Asia Conference Webinar Series

    Webinars
    7 September 2020 - 25 September 2020

    Spaces available

    There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia.  The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.

    This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.

     

  • Personal and Professional Lifelong Learning – Supporting CPD Co-ordinators and Others

    Webinar
    23 September 2020

    Spaces available

    This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements. 

    The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise.  In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities. 

  • Asia Conference Webinar: The Role of Data Science in Customer-centric Insurance

    Webinar
    23 September 2020

    Spaces available

    16.00-17.00 GMT+8

    Consumer expectations are changing Insurance. The Royal Commission in Australia, Design Obligations in the UK, the insurtech ecosystem, and digital-first consumers demanding personalised solutions will all revolutionise how insurance looks like in the future.

  • Asia Conference Webinar: Ageing/Mortality Panel Session

    Webinar
    24 September 2020

    Spaces available

    12.00-13.00 GMT+8

    This presenter / panel workshop hybrid will be anchored by two presentations examining the socioeconomic, medical and technological factors that will have a significant impact on mortality and our pricing over the next 20 years and beyond. It will also discuss whether significant mortality improvement will continue in Asia or whether varying experience of low improvements or deterioration. 

  • Asia Conference:The C-Ross Phase II and its Potential Impact on Chinese Market

    Webinar
    25 September 2020

    Spaces available

    12.00-13.00 GMT+8

    This presentation aims to provides an overview of the reformation of current Chinese regulatory solvency regime, how industry coping with the new normal after pandemic time and how the reformation of the regulation could help the insurance industry gets back on its feet as well as coming back to the “protection” core value for the policyholders. The presentation would include:

  • Asia Conference:Changes of China’s 2nd set Standardized CI definitions and Mortality Table

    Webinar
    25 September 2020

    Spaces available

    16.00-17.00 (GMT+8) | 09.00-10.00 (BST)

    The basic data of China’s 2nd Critical Illness Mortality Table covers 2000+ products in Chinese market, including about 340 million insurance policies and 5.1 million claimants. Presenter will give the audience a general understanding including but not limited to the following contents:

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.

  • Autumn Pensions Webinar: Cash is King - What next for CDI?

    Webinar
    4 December 2020

    Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Autumn Pensions Webinar: Impact of Dividends

    Webinar
    8 December 2020

    Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.