There are no amendments to the Regulations currently proposed.
Questions about the Regulations, or any other aspect of the IFoA’s constitution, can be addressed to our Corporate Secretary at corpsec@actuaries.org.uk.
Listed below are all changes to the Regulations made since July 2019.
It is hereby confirmed that each amendment was:
Date of notice: 2 January 2024
Date of implementation: Various - 1 April 2024 to date of IFoA AGM in 2025
‘IFoA governance reforms’
You can view full details of these changes and the background to them on this page.
Date of notice: 7 February 2023
Date of implementation: 8 March 2023
Please note deletions are in struck-through text and additions in italics.
‘Privacy and Data Protection’
21. The Institute and Faculty of Actuaries shall respect the privacy of its members and shall not share personal information with non members except for the exchange of information relevant to regulatory matters with other professional bodies or regulators. Personal information of members shall only be processed in accordance with applicable legal and regulatory requirements and in line with the IFoA’s privacy notice.’
Date of notice: 22 June 2021
Date of implementation: 21 July 2021
Please note deletions are in struck-through text and additions in italics.
10. The management body provided for under Bye-law 17 shall be known as the Management Board. Members of the Management Board as a result of their office or employment shall be:
In addition, the Council may appoint:
Date of notice: 13 November 2020
Date of implementation: 11 December 2020
From:
“Affiliates should be educated to degree (or equivalent) level and have relevant experience to meet one or more of the following criteria:
To:
“Affiliate members are subject to such published terms and conditions as are required by the IFoA and may be removed by a published process and final decision of the President of the IFoA”.
Date of notice: 23 June 2020
Date of implementation: 21 July 2020
From:
“Subscriptions are due on 1 October of the subscription year. Subscriptions which are outstanding as at 1 November shall attract a 10% surcharge which rises to 20% as at 1 December. Failure to settle outstanding subscriptions by 31 December in any subscription year shall result in cancellation of membership. The Council may suspend these requirements in circumstances which it deems appropriate.”
To:
“Subscriptions are due on 1 October of the subscription year. Subscriptions which are outstanding as at 1 November shall attract a 1% surcharge which rises to 2% as at 1 December. Failure to settle outstanding subscriptions by 31 December in any subscription year shall result in cancellation of membership. The Council may suspend these requirements in circumstances which it deems appropriate.”
Date of notice: 23 June 2020
Date of implementation: 21 July 2020
From:
"Any member whose annual income, as defined by United Kingdom Government rules on taxable income, from all sources throughout the subscription year is not more than the earnings levels set by Council for each membership category, may apply to the Membership Team (membership@actuaries.org.uk) for a reduced subscription. Members classified as retired under the Continuing Professional Development Scheme (as defined in the Bye-laws) may apply to the membership team for a reduced subscription.”
To:
“Any member whose annual income, as defined by United Kingdom Government rules on taxable income, from all sources throughout the subscription year is not more than the earnings levels set by Council for each membership category, may apply to the Membership Team (membership@actuaries.org.uk) for a reduced subscription. Members classified as retired in accordance with the applicable IFoA published Subscription Policy may apply to the membership team for a reduced subscription.”
Date of notice: 10 January 2020
Date of implementation: 10 February 2020
From:
“Students shall normally be admitted if they have achieved the following educational standards:
For those Students who have a degree they must:
For those Students who do not have a degree they must:
Overseas Students shall be required to meet equivalent standards to those above through comparable qualifications.
Applicants who do not have the capacity to gain a good honours degree or do not have adequate proficiency in English are likely to experience particular difficulty with the examinations.”
To:
“There are no educational entry requirements for Students. Students shall normally be admitted upon acceptance of an application for admission and subject to such published terms and conditions as required by the IFoA from time to time.”
Date of notice: 19 June 2019
Date of implementation: 17 July 2019
From:
“Any member whose annual income, as defined by United Kingdom Government rules on taxable income, from all sources throughout the subscription year is not more than 30 times the level of the required subscription that would apply to the member concerned may apply to the membership team (membership@actuaries.org.uk) for a reduced subscription. Members classified as retired under the Continuing Professional Development Scheme (as defined in the Bye-laws) may apply to the membership team (membership@actuaries.org.uk) for a reduced subscription.”
To:
“Any member whose annual income, as defined by United Kingdom Government rules on taxable income, from all sources throughout the subscription year is not more than the earnings levels set by Council for each membership category, may apply to the membership team (membership@actuaries.org.uk) for a reduced subscription. Members classified as retired under the Continuing Professional Development Scheme (as defined in the Bye-laws) may apply to the membership team (membership@actuaries.org.uk) for a reduced subscription.”