The IFoA has published its new Practising Certificates Scheme and accompanying new PC Handbook, which sets out the detailed processes and procedures for applying for a PC. The new Scheme will take effect on 1 December 2022.
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.
The new approach offers a simplified, more proportionate, and effective PC Scheme with a move to competency-based criteria for PCs and more focus on initial applications with a lighter touch approach to renewals.
Information about the transitional arrangements for existing PC Holders and non-PC Holders that have sat the current UK Practice Modules is also now available, along with the new application forms. The final versions of the Competency Frameworks for each PC are included within the PC Handbook.