The Code has six principles.
- Integrity – Members must act honestly and with integrity.
- Competence and care – Members must carry out work competently and with care.
- Impartiality – Members must ensure that their professional judgement is not compromised, and cannot reasonably be seen to be compromised, by bias, conflict of interest, or the undue influence of others.
- Compliance – Members must comply with all relevant legal, regulatory and professional requirements.
- Speaking up - Members should speak up if they believe, or have reasonable cause to believe, that a course of action is unethical or is unlawful.
- Communication – Members must communicate appropriately.
Who does the Actuaries' Code apply to?
The Actuaries’ Code applies to all members of the IFoA
When does the Actuaries' Code apply?
The Code applies at all times to all Members’ conduct in relation to an actuarial role.
The Code also applies to all Members’ other conduct if that conduct could reasonably be considered to reflect upon the profession.
How does the Actuaries' Code apply?
If you have any questions about your obligations under the Actuaries' Code you may wish to submit your query to the Professional Support Service.
Failure by a Member to comply with the ethical requirements set out in the Code may lead to disciplinary proceedings under the IFoA’s Disciplinary and Capacity for Membership Schemes.
Guidance
The IFoA has developed non-mandatory Guidance to support the principles and amplifications in the Actuaries' Code. It has advice for members to help them better understand the nature of their obligations under the Code and applying it in practice.
Access the guidance
- How to use the Guidance, Section 1: Introduction and Section 2: Application, Scope, and Status and Purpose
- Section 3: Principle 1 - Integrity
- Section 4: Principle 2 - Competence and Care
- Section 5: Principle 3 - Impartiality
- Section 6: Principle 4 - Compliance
- Section 7: Principle 5 - Speaking Up
- Section 8: Principle 6 - Communication
Download our guidance as a PDF
Download the guidance as a PDF
Training and education
The Professional Skills Training webinars and videos touch on various aspects of the Code and are available to watch through the VLE.
- Watch "Actuarial Interaction and Challenge"
- Watch "Speaking Up, Whistleblowing - What do we mean? Is there a Difference?"
Support
If you have any questions about the Code, you can contact the IFoA's Regulation Team.
Contact Details
If you have any enquiries about the Actuaries' Code please email
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Events calendar
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Life Conference 2020 Webinar Series
Online16 November 2020 - 27 November 2020
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Autumn Pensions Webinar: Update from The Pensions Regulator (TPR)
Webinar1 December 2020
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
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Autumn Pensions Webinar: To the end game and beyond
Webinar2 December 2020The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer. -
Data Science in Banking - Opportunities and Risks
Webinar3 December 2020Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.
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UK Town Hall 08:30-09:30
Webinar4 December 2020
IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann. -
UK Town Hall 10:00-11:00
Webinar4 December 2020IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann. -
Autumn Pensions Webinar: Cash is King - What next for CDI?
Webinar4 December 2020Cash-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: Legal update - The letter of the law
Webinar7 December 2020Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year -
Autumn Pensions Webinar: Impact of Dividends
Webinar8 December 2020The 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. -
Sessional Webinar: To the end game and beyond
Webinar11 January 2021
Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. Trustees and sponsors overseeing those schemes need to be clear on their target end-state and the associated journey plan – but too few have well articulated and robust plans.
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Inside the Banking Boardroom – Opportunities for Actuaries
Webinar14 January 2021The actuarial skill set has much to offer the banking industry. So many of the skills that actuaries acquire during their working life translate across to the world of banking and yet banking is perceived as an alien environment to many actuaries. But is it?
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An update from the IFoA’s Covid-19 Action Taskforce [ICAT] Risk Management workstreams
Webinar25 January 2021Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.
We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.
IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann. 