We are consulting on a proposed new continuing professional development (CPD) scheme, which is intended to make IFoA requirements easier to fulfil and return the focus of CPD to meaningful professional development and learning.
The proposals have been produced in response to member feedback on the existing CPD scheme.
The simplified requirements place the same obligations on all members, regardless of membership category (with an exemption for non-practising members and students).
Under the proposed scheme, a greater range of activities will count towards the hours-based requirement, allowing members to participate in more varied opportunities, learning about subjects relevant to their current or future role.
Recording and evidencing activities will no longer be required, and non-compliance won't lead to disciplinary action (except in cases where the Actuaries' Code has been breached). Instead, the IFoA will focus on supporting members' professional development in a reflective practice discussion. Learning needs and the outcomes of activities will be talked over, and suggestions made as to how members might continue to progress.
The proposed new CPD scheme is intended to make CPD a benefit of IFoA membership, a method by which the IFoA helps its members to remain relevant in this ever-evolving, dynamic industry.
Review the proposals and share your thoughts before 17 April: www.actuaries.org.uk/cpd-scheme-review-2020