Our membership subscription fees have been designed around principles of fairness, welfare, and sustainability. This is to reflect the benefits of IFoA membership, while delivering value for money for you and your employers.
On this page we provide answers to some important questions you might have about your 2024 to 2025 membership subscription fees.
As part of our commitment to providing transparency and value for money, we review IFoA subscription fees annually to ensure they are fair, sustainable, and reflect the benefits of IFoA membership.
We set our fees rates using financial modelling, benchmarking, and an assessment of the impact of any changes on our members.
Our fee structure is designed to ensure the financial sustainability of the IFoA for the long term, affording us the opportunity to further enhance our services and add value to our organisation for the benefit of our members well into the future.
Our long-term financial plan will deliver value for money for our members, while we focus our resources on the services that members have said are important to them and continue to invest in projects that will transform our member experience.
Transparency and offering you value for money are important to us, so you can find where your annual membership fees are spent in our 2023/24 financial statement.
To better support members on lower incomes and ensure fairness in our reduced rate subscription eligibility, we offer a mid-tier reduced rate subscription and a lower reduced rate subscription.
This year we have raised the threshold for our mid-tier and lower reduced rate subscriptions, this means that:
You can find our subscription fees for 2024 to 2025 in our membership subscriptions table (PDF, 60 KB)
You will be able to apply for reduced rate subscriptions on your member portal when you renew your IFoA membership. Log in to your member portal, then select Membership from the menu on the left and then select Apply for reduced rate. Click Apply now and follow the steps on screen.
You will need to upload evidence of your eligibility for the relevant reduced rate membership when you apply online.
Evidence can include (one of the following):
You can apply for reduced rate membership fees when you renew your membership, if you are eligible, by logging in to your member portal. Select Membership from the menu on the left and then select Apply for reduced rate. Click Apply now and follow the steps on screen.
You will also need to upload evidence of your eligibility for the relevant reduced rate membership when you apply online.
Evidence can include (one of the following):
If you are a Fellow or Associate and you are not currently involved in technical actuarial work, and you are not fully retired, you are eligible to apply to be registered as non-practising under our CPD scheme and would become eligible for non-practising reduced rate membership. It does not matter whether this work is paid or not.
No. If you are not currently involved in technical actuarial work and are registered as non-practising under the CPD scheme, your eligibility for the non-practising reduced rate membership fee will not change and you will not need to reapply.
No. If you were previously granted a non-income reduced rate fee, due to working less than 20 hours during the subscription year, there will be no change. You will continue to benefit from the reduced rate fee for 2024/2025.
You can apply for non-practising status by completing a short online application form. Learn more on our non-practising status page. Once your non-practising status has been granted, we will amend your IFoA membership fee rate.
We plan to issue your membership subscription renewal notice week commencing 02 September.
You will be able to pay your membership subscription fee online from 01 September.
Subscriptions paid by annual direct debit will be collected in full in on 01 October.
Please let your employer know that you are eligible for a reduced rate membership and the amount due.
You can apply for reduced rate membership fees on your member portal, if you are eligible, from 01 September.
Fellows and Associates of the IFoA who are members at the equivalent level of another actuarial body, which is a full member association of the International Actuarial Association (IAA) may apply for dual membership status. This will entitle you to pay the dual member subscription fee listed in the membership subscription table.
If you meet the criteria set out in the subscription policy, please complete the dual membership application form online in your member portal when renewing your membership. New applications for 2024 to 2025 must be made by 10 December 2024 to be eligible for the dual membership subscription rate.
The IFoA collects the optional subscriptions for the Staple Inn Actuarial Society (SIAS) and for the specialist sections of the International Actuarial Association (IAA).
There will be no change to optional subscription fees for 2024/25.
For individual member queries, you should contact our member services team at memberservices@actuaries.org.uk.
If you are an employer and require further support or guidance on these changes, you can contact your local IFoA employer team or our employer team at employers@actuaries.org.uk.
We will be happy to help.