The IFoA has published the final version of its new Practising Certificates (PC) Scheme, together with the accompanying new PC Handbook, which sets out the process for applying for a PC.
The new PC Scheme will take effect on 1 December.
The PC Scheme requires members to obtain a relevant certificate to enable them to take on some of the most senior regulated actuarial roles in the UK. The new approach offers a simplified, more proportionate and effective PC Scheme, with a move to competency-based criteria for PCs and more focus on initial applications with a lighter touch approach to renewals.
Information on the new scheme can be found at bit.ly/3NOMQ5O, together with the Handbook and new application forms. The final versions of the Competency Frameworks for each PC are included within the PC Handbook. Information about the transitional arrangements for existing PC and non-PC holders who have sat the current UK Practice Modules are also provided, together with a list of FAQs about the new PC Scheme.
We welcome any questions about the new PC scheme and application process. You can get in touch here at [email protected]