Those holding Non-Practising Status are exempt from the CPD Scheme requirements. You must contact the IFoA to hold the status.
Any member can apply for Non-Practising status if they are not currently involved in technical actuarial work.
This might include members who have retired completely or it might include those members who are working but not involved in technical actuarial work, such as those acting as Non-Executive Directors or Trustees. Whether work is paid or not is not relevant to your eligibility.
Applications can only be made where a member has or intends to have, that status for 5 weeks or more (other than in relation to absence for parental or medical reasons where there is no such limitation). This will reflect in their entry in the Actuarial Directory.
For those that are absent for parental or medical reasons please consult the Absence from Work Policy.
An online application form is available on our website. Once the application has been approved by the Membership Team you will receive an email to confirm your updated status.
The requirement for the rest of the year will be on a pro-rata basis according to the number of weeks that your status is no longer in place (rounded down to the nearest week). The hours' requirement will be rounded to the nearest minute. The Member Services Team will be able to confirm this.
Members who are on parental leave or are absent from work for health reasons will be deemed to have Non-Practising status for the period that they are away from work. The Actuarial Directory will not reflect any change in status if the reasons for absence relate to parental or medical leave. Please consult the Absence from Work Policy.
You do not need to apply for the status, but you should notify the Member Services Team by email so that they can mark this in your record and confirm your pro-rata requirement.
Please notify the Membership Team. Your CPD requirement for the year would be pro-rated from the time of the change of status. If you are unclear about what that means in practice then the Member Services Team can help.
There is no need for a member to apply for Non-Practising status because it is entirely up to them/their employer what CPD, if any, they should complete. If you are not practising as an actuary it is likely that any training and development will relate to your specific role, which is entirely acceptable under the QAS CPD Scheme.
No, the status does not have any bearing on your membership, other than to exempt you from the CPD Scheme. Your category of membership, subscription, and access to member benefits all remain the same, as do your professional requirements such as compliance with standards and the Actuaries’ Code.
You are not obliged to apply for Non-Practising status even where you are eligible for it. For those members not carrying out any technical actuarial work, you can, of course, elect not to apply for Non-Practising Status and to remain in the scope of the Scheme, if that suits your particular circumstances better. In those circumstances, Members will not be noted as Non-Practising in the Actuarial Directory. You should contact the Member Services Team if you have any questions about your Membership category or the subscription rates that would apply to you.