6 February 2023
The IFoA has today launched a consultation on proposals to introduce a revised Actuarial Profession Standard (APS) Z1 on ‘Duties and responsibilities of Members undertaking work in relation to UK Trust-based Pre-Paid Funeral Plans’. APS Z1 sets out specific ethical and professional obligations that apply, in addition to the Actuaries’ Code, for members providing advice in relation to funeral plan trusts.
The proposed revised APS Z1 reflects the new regulatory framework for the pre-paid funeral planning market, overseen by the Financial Conduct Authority.
We encourage you to read the proposals and give us your views. To read the full proposals and for information on how you or your organisation can respond to the consultation, please visit our dedicated page: Proposals for a revised APS Z1.
The consultation closes on 8 May 2023 at 5pm.