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Archive of withdrawn standards

Archived versions of our Actuarial Profession Standards (APSs) are provided in this listing

Current versions of our APSs are available on the Professional Standards Directory page.

Archived Actuarial Profession Standards (APSs)

Title Document link
Conflicts of interest 

Conflicts of Interest and Actuaries: A Note for Pension Scheme Trustees v1.1

Conflicts of Interest: A Guide for Employers of Actuaries v1.0

The Actuaries’ Code

The Actuaries’ Code Version 1.0 (October 2009)

The Actuaries' Code Version 2.0 (October 2013)

Replaced by Version 3.0 (effective 18 May 2019)

The Standards Decision Tree

The Standards Decision Tree

APS X3 The Actuary as an Expert in Legal Proceedings

The Actuary as an Expert in Legal Proceedings (Version 1.0) (effective 01.01.2015)
(replaced by Version 2.0) (effective 20.04.2018)

APS D1 Investment Related Business Activities for Authorised Professional Firms Version 1.0 (effective 01.12.2009)
Replaced by Version 2.0 (effective 01.03.2013)
Replaced by Version 3.0 (effective 01.07.2016)
APS G1

The Chief Actuary in Non-Life Insurance (Version 1.0) (effective 01.01.2016)
Replaced by Version 2.0 (effective 01.09.2017)

APS G2

Actuarial Reporting for Lloyd's Syndicates Writing US Business Version 1.0 (effective 15.12.2010)
Replaced by Version 1.1 (effective 01.04.2014)

APS L1

Duties and Responsibilities of Life Assurance Actuaries (Version 1.1) (effective 01.04.2014)
Replaced by Version 2.0 (effective 01.01.2016)
Replaced by Version 3.0 (effective 01.09.2017)

APS L1

Duties and Responsibilities of Life Assurance Actuaries Version 1 (effective 01.10.2011)
Replaced by Version 1.1 (effective 01.04.2014)

APS L2 The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 Version 1.0 (effective 01.10.2011)
Replaced by Version 1.1 (effective 01.04.2014)
APS P1

Duties and Responsibilities of Pensions Actuaries Version 1.0 (effective 01/04/2011)
Replaced by Version 2.0 (effective 01.07.2013)

APS P2

Compliance review: Pensions Version 1.0 (effective 01.04.2011)
Replaced by Version 1.1 (effective 01.04.2014)

Compliance review: Pensions Version 1.1 (effective 01.04.2014)
Replaced by APS X2: Review of Actuarial Work (effective 01.07.2015)

GN5

The prudential supervision outside the UK of long-term insurance business Version 3.0 (effective 01.09.2003)
Replaced by Version 3.1 (effective 01/12/2007 - withdrawn on 01.07.2017)

GN29

Occupational Pension Schemes – Advisers to the Trustees
Version 6.0

(effective 06.04.2005) Withdrawn

Occupational Pension Schemes – Advisers to the Trustees
Version 7.1 (effective 31.03.2008)

Withdrawn 31.03.2011

GN37

The Financial Services and Markets Act 2000 (communications by Actuaries (Regulations 2003) Version 2.0 (effective 01.02.2006)
Withdrawn 30.09.2011

GN39

General Responsibilities of and Relationships Between Actuarial Function Holders, With-profits Actuaries, Appropriate Actuaries, and Reviewing Actuaries, of UK Life Insurance Firms and Friendly Societies
Version 1.0
(effective 31.12.2004)

General Responsibilities of and Relationships Between... Version 1.1 (effective 31.12.2004)

General Responsibilities of and Relationships Between... Version 2.0 (effective 01.02.2006)

General Responsibilities of and Relationships Between... Version 2.1 (effective 01.02.2006)
Withdrawn 30.09.2011

GN42

The Reviewing Actuary Version 1.0 (effective 31.12.2004)
Adopted by BAS on 19.05.2006

The Reviewing Actuary Version 2.0 (effective 01.06.2006)
Re-adopted by the Actuarial Profession on 01.12.2008

The Reviewing Actuary Version 2.1 (effective 01.12.2008)
Withdrawn 30.09.2011

GN48

Compliance Review: Pensions Version 1.0 (effective 31.12.2004)

Compliance Review: Pensions Version 2.0 (effective 01.01.2007)

Compliance Review: Pensions Version 2.1 (effective 01.02.2010) Withdrawn 31.03.2011

GN51

Retirement Benefit Schemes – Modification of Subsisting Rights Without Consent Version 1.0 (effective 06.04.2006)

Retirement Benefit Schemes – Modification of Subsisting Rights Without Consent  Version 1.1 (effective 06.11.2006)

Retirement Benefit Schemes – Modification of Subsisting Rights Without Consent Version 1.2 (effective 01.12.2008)
Withdrawn 31.03.2011

Acting as Non-Executive Directors effective from 18.05.19
APS X5

Compensation for Professional Shortcomings (Version 1.0) (effective 20.11.2020) 

GN 30

Compensation for Professional Shortcomings (Version 1.0) (effective 01.09.1997)

Contact Details

If you have any enquiries about archived standards please email

regulation@actuaries.org.uk

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Events calendar

  • 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.

  • Spaces available

    The role of actuaries within the health sector varies considerably from one country to another, due to differences in the local evolution of health systems and the funding models for health services. 

  • Spaces available

    This paper outlines key frameworks for reserving validation and techniques employed. Many companies lack an embedded reserve validation framework and validation is viewed as piecemeal and unstructured.  The paper outlines a case study demonstrating how successful machine learning techniques will become and then goes on to discuss implications.  The paper explores common validation approaches and their role in enhancing governance and confidence.

  • 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.
     

  • Spaces available

    The IFoA Policy Briefing 'Can we help consumers avoid running out of money in retirement' examined the benefits of blending a lifetime annuity with income drawdown. Panellists, including providers and advisers, will look at the market practicalities of taking the actuarial theory through into the core advice propositions used by IFAs and Fund Managers. They will share a number of practical issues such as investment consequences before and after retirement and the level of annuity that is appropriate and answer questions from the audience.

  • Speech from the Governor of the Bank of England, Andrew Bailey

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    1 December 2021

    The IFoA is pleased to be hosting the Governor of the Bank of England, Andrew Bailey, to deliver a speech on delivering policyholder protection in insurance regulation.

    The speech will be presented to an in-person audience, and simultaneously live-streamed, at 14.00 on Wednesday 1st December.

  • The Many Faces of Bias

    2 December 2021

    Spaces available

    This webinar looks at the many types of biases, both conscious and unconscious and the impacts they can have in the workplace.  Raising our own awareness and understanding of the issues can help us avoid the pitfalls of unconscious bias in particular.  We’ve all heard the phrase ‘office banter’ but are we sure that’s how those on the receiving end perceive it and is it ok to go along with it?

  • Spaces available

    Actuaries need to take action now - but how?  With a focus on climate change, this session will provide informed insight to enable you to improve your knowledge and understanding of the issues involved, demonstrate how it will impact advice to your clients, and highlight prospective opportunities for actuaries within pensions and wider fields.

  • Spaces available

    Pension scams have become more prevalent as a result of the pandemic, and Trustees have increased responsibilities to protect members, which means that actuaries need to be in a position to provide advice in this area. Our specialist panel will include a professional trustee, an IFA and head administrator, two of whom are members of PASA.

  • Spaces available

    The covid-19 pandemic creates a challenge for actuaries analysing experience data that includes mortality shocks.  To address this we present a methodology for modelling portfolio mortality data that offers local flexibility in the time dimension.  The approach permits the identification of seasonal variation, mortality shocks and late-reported deaths.  The methodology also allows actuaries to measure portfolio-specific mortality improvements.  Results are given for a mature annuity portfolio in the UK

  • Spaces available

    In this webinar, the authors of the 2021 Brian Hey prize winning paper present a new deep learning model called the LocalGLMnet. While deep learning models lead to very competitive regression models, often outperforming classical statistical models such as generalized linear models, the disadvantage is that deep learning solutions are difficult to interpret and explain, and variable selection is not easily possible.

  • Spaces available

    The dominant underwriting approach is a mix between rule-based engines and traditional underwriting. Applications are first assessed by automated rule-based engines which typically are capable of processing only simple applications. The remaining applications are reviewed by underwriters or referred to the reinsurers. This research aims to construct predictive machine learning models for complicated applications that cannot be processed by rule-based engines.

  • Spaces available

    With the Pension Schemes Act 2021 requiring a long term strategy from Trustees and sponsors, choosing a pensions endgame strategy has become even more critical. However, it is important that the endgame options available are adequately assessed before choosing one. With an ever-increasing array of creative and innovative options available, this decision may not be straightforward.