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Professional Standards Directory

The Professional Standards Directory provides an up-to-date listing of the IFoA’s Actuarial Profession Standards (APSs) and links to the Financial Reporting Council’s (FRC) standards

The IFoA is responsible for setting and maintaining ethical standards and the FRC is responsible for setting Technical Actuarial Standards (TASs) within its geographic remit.  Members must comply with these standards.

Actuaries' Code, Actuarial Profession Standards (APSs) and Guidance Notes (GNs)

Title Document link
The Actuaries' Code The Actuaries' Code (Version 3.0) (effective 18.05.2019)
APS X1 Applying Standards to Actuarial Work (Version 1.1) (effective 19.03.2019)
APS G1 The Chief Actuary in Non-Life Insurance (Version 2.0) (effective 01.09.2017)
APS L1 Duties and Responsibilities of Life Assurance Actuaries (Version 3.0) (effective 01.09.2017)
APS Z1 Duties and responsibilities for actuaries working for UK trust-based pre-paid funeral plans (Version 1.0) (effective 01.12.2015)
APS QA1 Quality Assurance for Organisations
APS X2 Review of Actuarial Work (Version 1.0) (effective 01.07.2015)
APS X3 The Actuary as as Expert in Legal Proceedings (Version 2.0) (effective 20.04.2018)
APS X4 Social Security Programmes (effective 27.02. 2020) 
APS X5 Compensation for Professional Shortcomings (Version 1.0) (effective 20.11.2020)
APS D1 Investment Related Business Activities for Authorised Professional Firms (Version 3.0) (effective 01.07.2016)
APS G2 Actuarial Reporting for Lloyd's Syndicates Writing US Business (Version 1.1) (effective 01.04.2014)
APS L2 The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 (Version 1.1) (effective 01.04.2014)
APS P1 Duties and Responsibilities of Members Undertaking Work In Relation to Pension Schemes (Version 2.0) (effective 01.07.2013)
GN 27 Retirement Benefit Schemes - Minimum Funding Requirement (Version 2.1) (effective 13.01.2003)
GN 30 Compensation for Professional Shortcomings (Version 1.0) (effective 01.09.1997)

Financial Reporting Council Standards

You can access the current FRC standards on the FRC’s website.

Contact Details

If you have any questions about the Professional Standards Directory please email

regulation@actuaries.org.uk

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Events calendar

  • 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

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference 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 life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • Spaces available

    The 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.

  • 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.

  • Spaces available

    Patrick 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

  • 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.