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Changes and amendments to the Practising Certificates Scheme

Any changes arising from a review of the Practising Certificates Scheme will normally apply from 1 September.

Changes to the Practising Certificates Scheme will be notified to members through practice area newsletters, by email, or by letter, as appropriate.  Additionally, amended documents are listed below.

Document title

 Date of change  Revised document  Revised by

Change

Practising Certificates Scheme 1 September 2018 Practising Certificates Scheme Regulation Board Summary of changes
Practising Certificates Scheme 1 September 2017 Practising Certificates Scheme Regulation Board Reviewed
Guidance on the Generic Criteria 1 September 2017 Guidance on the Generic Criteria Regulation Board Reviewed
Technical Experience Criteria and Guidance 1 September 2017 Technical Experience Criteria and Guidance Regulation Board Reviewed
Frequently Asked Questions 1 September 2017 Frequently Asked Questions Regulation Board Reviewed
Practising Certificates Scheme 1 September 2016 Practising Certificates Scheme Regulation Board Reviewed
Practising Certificates Scheme 1 April 2016 Practising Certificates Scheme Regulation Board Change to experience requirement
Guidance on the Generic Criteria 1 April 2016 Guidance on the Generic Criteria Regulation Board Change to experience requirement
Technical Experience Criteria and Guidance 1 April 2016 Technical Experience Criteria and Guidance Regulation Board Change to experience requirement
Frequently Asked Questions 1 April 2016 Frequently Asked Questions Regulation Board Change to experience requirement
Quick Reference Guide 1 April 2016 Quick Reference Guide Regulation Board Change to experience requirement
Practising Certificates Scheme 1 September 2015 Practising Certificates Scheme Regulation Board Reviewed
Guidance on the Generic Criteria 1 September 2015 Guidance on the Generic Criteria Regulation Board Reviewed
Technical Experience Criteria and Guidance 1 September 2015 Technical Experience Criteria and Guidance Regulation Board Reviewed
Frequently Asked Questions 1 September 2015 Frequently Asked Questions Regulation Board Reviewed
Quick Reference Guide 1 September 2015 Quick Reference Guide Regulation Board Reviewed

Practising Certificates Scheme

1 July 2015 Practising Certificates Scheme Regulation Board Amendments to incorporate Chief Actuary Certificates
Transition Arrangements 1 July 2015 Transition Arrangements Regulation Board Transtion Arrangements for Chief Actuary Certificat applications
Guidance on the Generic Criteria 1 July 2015 Guidance on the Generic Criteria Regulation Board Amendments to incorporate Chief Actuary Certificates
Technical Experience Criteria and Guidance 1 July 2015 Technical Experience Requirements and Guidance Regulation Board Amendments to incorporate Chief Actuary Certificates
Frequently Asked Questions 1 July 2015 Frequently Asked Questions Regulation Board Additions
Quick reference guide 1 July 2015 Quick reference guide Regulation Board Amendments to incorporate Chief Actuary Certificates

Quick reference guide

01 September 2014

Quick Reference Guide

Regulation Board

Reviewed

Practising Certificates Scheme

01 September 2014

Practising Certificates Scheme

Regulation Board

Reviewed

Frequently asked questions 01 September 2014 Frequently Asked Questions Regulation Board Reviewed 

Guidance on the generic eligibility criteria

01 September 2014 Guidance on the generic eligibility criteria Regulation Board Reviewed 
The technical experience criteria and guidance on their application 01 September 2014  The technical experience criteria and guidance on their application Regulation Board  Reviewed 

Practising Certificates Scheme

01 September 2013 

Practising Certificates Scheme

PREC

Reviewed 

Guidance on Generic Criteria

01 September 2013 Guidance on Generic Criteria  PREC

Reviewed 

Frequently asked questions

01 September 2013 Frequently Asked Questions PREC

Additions

Quick reference guide 01 September 2013 Quick Reference Guide PREC Quick introduction to the PC Scheme
Practising Certificates Scheme 01 September 2012 Practising Certificates Scheme PREC Reviewed
Frequently asked questions 01 September 2012 Frequently Asked Questions PREC Additions
Transition arrangements 22 December 2011 Transition Arrangements PREC

Revised timeline for certain mentored pension applications (new section 3A)

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Contact Details

If you have any enquiries about Practising Certificates please email or write to the Membership Team

practising.certs@actuaries.org.uk

Institute and Faculty of Actuaries, Level 2 - Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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Events calendar

  • Webinar Series: Risk and Investment Conference 2019, 17 June

    These are online webinar events
    17 June 2019

    Spaces available

    The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.

  • Spaces available

    Increasing global concern over the impact of climate change has recently led to public scrutiny over the adequacy of existing risk management practices by insurance firms and pension schemes in dealing with these challenges, that potentially impact both individual actuaries and the IFOA generally.

     

  • Pensions Conference 2019

    Bristol Marriott Hotel City Centre, 2 Lower Castle Street, Old Market, Bristol, BS1 3AD
    18-19 June 2019
    Spaces available

    Five plenaries and 13 workshops cover current topics and industry trends in the Pension sector with the opportunity to develop your network at the pre-conference evening dinner (18 June).  There is also a day ticket option available for the 19 June. 

  • KSS event – FinTech and The Actuarial Profession

    EY, Atria One, 144 Morrison Street, Edinburgh
    19 June 2019

    Spaces available

    This KSS talk from FinTech Scotland's CEO will explore the mission to create an integrated Fintech ecosystem through provision of funding, support, infrastructure and talent that recognises and responds to the needs of all stakeholders - and the overarching aim for Scotland to be one of the top 5 Fintech global leaders by 2020.

    To book your place, please email Barry_Shannon@standardlife.com 

  • Current Issues in General Insurance (CIGI) 2019

    Inmarsat, 99 City Road, London, EC1Y 1BJ
    19 June 2019

    Spaces available

    CIGI is a well-established one-day seminar designed to increase awareness and encourage discussion on a variety of topical issues across the general insurance industry. 

    There will be an excellent and diverse line-up of speakers to provide a variety of perspectives and challenge covering technical and professional areas. 

  • Cass Event – New Thinking about Deferred Annuities

    Cass Business School, Executive Education Facilities 200 Aldersgate St, London EC1A 4HD
    21 June 2019

    Spaces available

    Our motivation for discussing this important subject comes from some exciting recent research which has analysed the impact of behavioural factors on the decision to purchase an annuity. This work has shown that behavioural factors can explain the well-known low demand for immediate annuities but this research also identifies an important opportunity in relation to deferred annuities (DA). The research suggests that these factors lead to positive incentives to purchase a DA and that, for longer deferred periods, a DA could be an attractive product for both consumers and insurers.

  • IFoA/SAS Joint Professional Skills Training – Singapore

    Room 903, NTUC Centre, Level 9, One Marina Boulevard, Singapore 018989
    25 June 2019

    Spaces available

    The Institute and Faculty of Actuaries (IFoA) and Singapore Actuarial Society (SAS) are organising a joint Professional Skills Training (PST) in Singapore. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Webinar Series: Risk and Investment Conference 2019, 26 June

    These are online webinar events.
    26 June 2019

    Spaces available

    The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.

  • AGM and Presidential Address 2019 + Volunteer and Member Drinks Reception

    The Hub  Castlehill Edinburgh EH1 2NE
    26 June 2019

    Spaces available

    Notice is hereby given that the ANNUAL GENERAL MEETING of the INSTITUTE AND FACULTY OF ACTUARIES will be held at The Hub, Edinburgh on Wednesday 26 June 2019 at 16.30 (Preceded by tea from 16.00) and followed by a PRESIDENTIAL ADDRESS given by John Taylor.

  • IFAM event - Actuarial Teachers’ & Researchers’ Conference 2019

    Institute for Financial and Actuarial Mathematics Department of Mathematical  Sciences The University of Liverpool Mathematical Sciences Building Peach Street Liverpool, L69 7ZL
    27 June 2019 - 29 June 2019

    Spaces available

    The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.

  • IFoA/ASM Joint Professional Skills Training – Kuala Lumpur

    Menara AIA, Auditorium, 99 Jalan Ampang, 50450, Kuala Lumpur
    28 June 2019

    Spaces available

    The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • SIAS: The Impact of Air Pollution on Health and Life Expectancy

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 July 2019

    Spaces available

    Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.

  • Spaces available

    The actuarial profession has much to offer the world of banking. In this webinar actuaries with experience in various fields of banking will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do as well as other roles within their area of banking.

  • Implications of 2019 IFRS 17 Exposure Draft

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    24 July 2019

    Spaces available

    Towards the end of June, the International Accounting Standards Board (IASB) is expected to publish an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022. To help IFoA members, the IFoA’s cross-practice Financial Reporting Group (FRG) is hosting an event at Staple Inn covering these developments. 

    For more information on the FRG please visit this webpage

  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

    • FCA business plan priorities
    • The future of regulation
    • FCA Engagement in Scotland
  • Sessional Research Event - Risk Margin Working Party

    Staple Inn Hall, High Holborn London, WC1V 7QJ
    9 September 2019

    Spaces available

    For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

     

  • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    2 December 2019

    Spaces available

    The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.