If you need help interpreting professional or technical guidance you should normally seek advice from a senior actuary first and, if that does not resolve the matter, you may wish to submit your query to the PSS for guidance.
Queries are anonymised and then referred to the relevant topic or practice area specific panel of experts for consideration. Panel members exchange their views on the query via e-mail before a final response is drafted. That draft is then considered and agreed by the panel members before the final response is issued to the enquirer.
We will acknowledge receipt of your query within two working days and will try to respond in full within 15 working days. The PSS tries to respond to queries as soon as possible; however the speed of response will ultimately depend on the nature and complexity of your query.
In a small number of cases, the PSS may be unable to provide a full response within 15 working days. In those cases, we will contact you and explain the reason for the delay.
The only circumstances in which an enquiring member’s confidence cannot be assured by us is where the Institute and Faculty of Actuaries (IFoA) has a legal obligation to report information or where the query submitted to the PSS discloses details of an illegal act.
Depending on the situation, the IFoA may first encourage the enquiring member to make the disclosure him or herself. If that advice is not taken, the IFoA may be required to breach the member’s confidence and make the report. The decision to take that step would be taken by the General Counsel to the IFoA, our senior legal adviser.