Becoming an actuarial apprenticeship employer means you can recruit the brightest maths students and develop their talent using funding from the Apprenticeship Levy.
The Institute for Apprenticeships and Technical Education website offers a useful starting point for employers wanting to find out more about apprenticeships.
If you are thinking of setting up an actuarial apprenticeship scheme we can put you in touch with employers who are already running an apprenticeship scheme, in order to understand the scheme better in relation to your company. Contact us to find out more.
Following the decision to close the CAA qualification to new candidates as of October 2021, transitional arrangements have been put into place to ensure new and existing CAA candidates continue to receive the support they need to successfully complete their qualification journey.
Actuarial Technician Apprenticeship (Level 4) candidates will continue to sit CAA Modules 0 and 1. Please book these exams through ActEd. Individual apprentices do not need to individually book these module exams.
If you have any questions please contact enquiries@caa-global.com.
The Actuarial Technician Level 4 apprenticeship programme is aimed at school leavers and covers Certified Actuarial Analyst (CAA) Modules 0 and 1. In addition to completing CAA modules in Practical Mathematics and Statistics (Module 0) and Finance and Financial Mathematics (Module 1), the apprenticeship will develop candidates' skills and knowledge in areas including:
The Actuarial Technician apprenticeship scheme is delivered in partnership with an education provider, BPP Actuarial Education.
BPP will support apprentices with expert tutors and a coach to guide candidates through their learning journey. In addition to textbooks, BPP offer a Virtual Learning Environment where apprenticeship candidates can access professional qualification content and learning resources.
Once apprentices have completed all of the required Knowledge, Skills and Behaviours, they will complete an End Point Assessment.
On completing the Actuarial Technician apprenticeship scheme, apprentices have the option to progress their careers through a number of routes, including:
The Actuarial Technician apprenticeship scheme will prepare apprentices for Actuarial Technician and Actuarial Analyst type roles.
Find out more about the Level 4 Actuarial Technician Apprenticeship.
You can also contact BPP who will be happy to guide you through the apprenticeship process, set up and funding, and answer any questions.
The Level 7 Actuary apprenticeship programme is aimed at graduates who are employed in a role relevant to the Level 7 Actuary apprenticeship scheme. It may be possible for candidates who have successfully completed a Level 4 Actuarial Technician Apprenticeship to move to Level 7.
The Actuary apprenticeship programme covers the IFoA CM, CS, CB and CP Modules required to qualify as an IFoA Associate. In addition to completing IFoA modules in Actuarial Statistics, Actuarial Mathematics, Business Practice, Actuarial Practice, Modelling Practice and Communications Practice, candidates will also develop skills in areas including:
The Actuary apprenticeship scheme is delivered in partnership with an education provider, BPP Actuarial Education.
BPP will support apprentices through a bespoke Apprenticeship Learning Plan, with an induction webinar and a welcome meeting with the apprentice’s Coach. BPP provide learning materials, tutorials and a coach to guide candidates, in addition to a Virtual Learning Environment where apprenticeship candidates can access professional qualification content and additional learning resources.
Once apprentices have completed all of the required Knowledge, Skills and Behaviours, they will complete an End Point Assessment.
Registration
On programme learning and assessment
Assessment gateway
End Point Assessments
Apprenticeship certification
On completing the Actuary Apprenticeship and qualifying as an IFoA Associate, candidates can go on to complete IFoA SP and SA exams and qualify as a Fellow of the IFoA.
Find out more about the Level 7 Actuary Apprenticeship.
Contact BPP who will be happy to guide you through the apprenticeship process, set up and funding and answer any questions.
The Apprenticeship Levy is a levy on employers to fund new apprenticeships.
Since April 2017, employers with a payroll of £3 million have to pay an apprenticeship levy of 0.5% of their wage bill. The funds collected by the apprenticeship levy are available to employers in England to cover apprenticeship training.
Funding from the apprenticeship levy can be used to offer an approved apprenticeship scheme in your organisation.
Funding of up to £15,000 is available for the Level 4 Actuarial Technician apprenticeship and funding of up to £18,000 is available for the Level 7 Actuary apprenticeship.
Employers can access apprenticeship levy funds through the online apprenticeship service. You can find out more about how to manage your apprenticeship funds and use the apprenticeship service on the gov.uk website.
You can also find updates on how the government are supporting employers to support current apprentices and incentive payments available for hiring new apprentices in the Department of Education's latest guidance on Apprenticeship funding in England.