1 December 2022
The IFoA’s new Practising Certificates Scheme (PC Scheme) comes into effect today. The PC Scheme requires members to obtain a relevant certificate to enable them to take on some of the most senior regulated actuarial roles in the UK.
With the move to a competency-based criteria, the new approach promotes a more effective, fair, and inclusive process for members looking to obtain and retain a practising certificate (PC). The competency frameworks for each PC are included within the PC Handbook (859 KB PDF). This handbook also sets out the detailed processes and procedures for applying for a PC.
The new scheme introduces more flexibility into the process for applicants and takes a more proportionate approach, with less focus on the annual renewal process.