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The Actuary The magazine of the Institute & Faculty of Actuaries

Merger work strands identified

Faculty and Institute Councils met jointly on 19 September to discuss the outcome of the recent consultation with members regarding the future ‘shape’ of the profession.

The Councils were pleased with the feedback and thanked members for taking the time to contribute. Given the significant level of support for a merger, both Councils felt it was appropriate to proceed with more detailed plans. They also recognised the reservations some members have, and an important part of this next phase of work will be to ensure these are addressed and alleviated where possible before any formal vote is held.

The next phase will involve 10 work strands to address issues such as development of an identity and name, the legal and tax structure of the Profession, and consideration of how best to build on the history of the Faculty and the Institute. The purpose of the work strands will be to design the best possible structure for a future profession as well as addressing the concerns that have been raised. After this, Faculty and Institute Councils will decide whether to proceed to a formal merger vote.

For more details about the proposed merger, please visit: www.actuaries.org.uk/members/merger_discussion.

Councils are determined that work on the merger project should not interrupt the normal working of the Profession and the delivery of its member-focused strategy.