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The Actuary The magazine of the Institute & Faculty of Actuaries

Reduced rate subscriptions

As we approach the deadline of 31 October we thought that it might be useful to remind those members wishing to apply for a reduced rate subscription of the need to do so now. Details were included in a recently circulated note, but for ease we would remind members that individuals in the following categories may be eligible:

  1. Members aged 70 or over on the date the subscription is due, whether or not they have retired from regular practice or employment.
  2. Members who have retired from paid practice or employment aged 55 or more, or before age 55 on grounds of ill-health.
  3. Members who, on the date the subscription is due, are taking a career break including, for instance, maternity leave or time to look after a family, following a study course or are unemployed and receiving no earned income.
  4. Members whose annual earned income from all sources is not more than 20 times the current subscription that would apply to the member concerned. Evidence of income may be requested.Members eligible to pay the higher reduced rate subscription may exercise an option to pay the lower rate by waiving their right to receive communications other than those prescribed in the bye-laws.

If you wish to apply to Council for such a reduction then you should apply to Cath Bryson at Maclaurin House before 31 October.

Members are also reminded that when the situation of a member on reduced rate changes during the year, he or she must inform the profession and may be required to pay the subscription fee for the remainder of the subscription year on a pro-rata scale of one-twelfth of the standard subscription for each month of the subscription year from the cessation of a reduced rate concession.