What are members’ obligations under the new CPD scheme?

The IFoA has launched its new, simplified Continuing Professional Development (CPD) scheme

The new CPD Scheme has been designed to help you carry out more meaningful learning and to better support you in your career development. It is a more modern approach to CPD that focuses on the outcomes of your activities, rather than tick-box compliance.

With the current CPD Scheme extended to the end of August, the new scheme comes into effect on 1 September 2020.
 

The new scheme has one set of obligations for all members  

• Exemptions are available for those who are students, work in an organisation that adopts the QAS CPD Scheme, or qualify for non-practising status
   

Members must carry out 15 hours of CPD  

• Two of which must be Professional Skills Training  
• The activities that can be counted are much broader, making it easier for you to carry out any type of learning that you consider beneficial to you  
• Additional obligations for Practising Certificate holders are now set out in the Practising Certificate Scheme
• document (amended post consultation) under the Proposal for a new CPD Scheme consultation at bit.ly/ClosedConsultations
   

Members should participate in a Reflective Practice Discussion  

• This discussion should take place with an ‘Appropriate Person’ – someone who understands the nature of your actuarial work, your personal development, and the learning outcomes of your activities  
• This person could be a work colleague or your line manager; however, an IFoA member working in your practice area would also be appropriate and the IFoA will be able to put you in touch with such a person if required  
• These discussions allow you to talk about your learning objectives and needs, how these have been addressed by the activities you have carried out, and whether there are any gaps that still need to be addressed  
• The discussions also afford an opportunity for suggestions as to other areas you might want to consider learning about or developing into  
• Every year some members will also be asked to participate in a Reflective Practice Discussion with a representative of the IFoA
   

Members are still required to keep a record of their CPD activities  

• This is to support your Reflective Practice Discussion  
• The format of the record is entirely up to you, but the IFoA recording facility will remain open to those who wish to continue to use it  
• Your record will not be audited, but will be needed at your Reflective Practice Discussions