Our new membership subscription fees have been designed around principles of fairness, welfare, and sustainability, to better 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 our 2023 to 2024 membership subscription fees.
As part of our commitment to providing transparency and value for money, we review IFoA subscription fees annually. This year IFoA Council has undertaken a wide-ranging review of our fees to ensure they are fair, sustainable, and reflect the benefits of IFoA membership.
Following a period of careful consideration and with a view to delivering value for money, IFoA Council agreed a revised fee structure designed around principles of fairness, welfare, and sustainability.
The fees review included extensive financial modelling, benchmarking, and an assessment of the impact of any changes on our members. This was to ensure the new fee structure is fair, simple, and reflects the different benefits of each membership category.
The new fee structure for student admission, subscription, and practising certificate fees has been designed to better reflect the benefits of IFoA membership for our different membership categories, while delivering value for money for members.
For the past 3 years IFoA subscription fees have been frozen, while prices have been rising globally.
This new fee structure will enable us 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 2022 to 2023 annual report.
To better support members on lower incomes and ensure fairness in our reduced rate subscription eligibility, we have introduced a mid-tier reduced rate subscription, simplified our eligibility criteria, and raised the threshold for our lower reduced rate.
This means that:
You can find out subscription fees for 2023 to 2024 in our membership subscriptions table (126 KB PDF).
The new fee structure will come into effect at the beginning of the 2023 to 2024 subscription year, on 1 October 2023.
You will be able to apply for reduced rate subscriptions on our new member portal, once our new member portal is live late September 2023. Find out more at: new members area: FAQs.
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):
Please remember you will need to register on the new member portal, using the re-registration link that will be sent to you, before you can apply for reduced rate subscriptions.
Once your member portal is live, you will receive an email to your preferred email address with the details you need to register.
Please do not try to log in until you receive your new registration link.
You can find step-by-step support on the registering process at: guide to registering on the new member portal.
You can apply for a reduced rate membership subscription, if you are eligible, once our new member portal is live in late September.
When your new member portal is live you will be able to log in to your online members area and complete the online application form.
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):
Applications can take up to 3 weeks to process. We will notify you once we have processed your application and your reduced rate subscription is available to pay online.
The new mid-tier reduced rate subscription fee (£260) is the same as our student membership subscription fee (£260).
So, if you are a student member earning between £8,301 and £25,999 a year, you will already be paying the same subscription fee rate as you would in the mid-tier reduced rate.
If you’re a student and your income is under £8,300 a year, please apply for our reduced rate membership subscription.
You can apply for reduced rate membership fees, if you are eligible, once our new member portal is live in late September 2023.
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):
When your new member portal is live you will be able to log in to your online members area and complete the online application form.
Applications can take up to 3 weeks to process. We will notify you once we have processed your application and your reduced rate subscription is available to pay online.
If you are a Fellow or Associate and either: are working less than 20 hours a year, or are experiencing serious ill health or some other exceptional circumstance, you can apply for a non-income-based reduced rate membership subscription.
If your application is successful, you will be eligible for the relevant reduced-rate subscription, depending on your membership category.
You can find out more and apply for non-income-based reduced rate membership on our subscriptions web page.
You can apply for non-practising status by completing a short online application form. Learn more on our non-practising status page.
You may also be eligible to apply for a non-income based reduced rate if you (one of the following):
You must hold non-practising status for the full subscription year to be eligible for the associated non-income reduced rate subscription.
If you are eligible you need to submit the application for non-income based reduced rate. Please download and complete the application form for Fellows and Associates (DOCX, 42 KB). Please then return to memberservices@actuaries.org.uk.
We plan to issue your membership subscription renewal notices in the coming weeks.
Once we have issued your membership subscription renewal notice you will be able to pay your membership subscription fee.
Subscriptions paid by annual direct debit will be collected in full in the coming weeks. We will advise you in advance of the date the money will be taken from your bank.
As we make important upgrades to your members area of our website, you may experience some disruption to our services.
In recognition of potential disruption or delays while we adapt to new systems, we will not be applying any late payment surcharges to your membership subscription fees this year.
If you are eligible for a different membership subscription than the one your employer is currently paying, please let your employer know.
If there is no change to your membership subscription, you don’t need to do anything. Your employer should pay your membership subscription fee as usual.
Please let you employer know that you are eligible for a reduced rate membership and the amount due.
You can apply for reduced rate membership fees, if you are eligible, once our new member portal is live in late September 2023.
The IFoA collects the optional subscriptions for the Staple Inn Actuarial Society (SIAS) and for the specialist sections of the International Actuarial Association (IAA).
SIAS Fellow/Affiliate/CAA subscriptions will increase to £30 for 2023 to 2024 and SIAS Student/Associate/SAA subscriptions will increase to £15 in 2023 to 2024.
These changes will take effect when membership subscriptions become due on 1 October 2023.
There are no changes to the cost of the IAA subscriptions: they remain at £39 for 2023 to 2024.
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.