A revised version of the Actuaries’ Code will come into effective from 25 September 2025, accompanied by updated guidance to support members in applying the new Code.
You can find the changes to the Code and existing guidance, along with a summary of the consultation process below.
Following an extensive consultation process with members, employers, and other stakeholders, a revised version of the Actuaries' Code and updated guidance will come into effect on 25 September 2025:
The IFoA Regulatory Board believes that these changes reflect of a proportionate, consistent, targeted, accountable and transparent approach to regulation and strike the right balance between ensuring that all members of the profession feel included and protected, while also respecting the full range of member perspectives on DEI.
The IFoA Regulatory Board initially consulted on how to formalise diversity, equity, and inclusion (DEI) in the Actuaries' Code in early 2023. After listening to consultation feedback, the Regulatory Board amended the proposed changes to the Code.
To better understand members’ views around proposed Code changes and their practical implications, the Regulatory Board under a further consultation on draft guidance to support proposed DEI changes to the Actuaries’ Code in 2024.
It was clear from both consultations’ feedback that there was strong support among members for the principles of belonging, fairness, respect, and to the building of a profession that is more representative of the society we live in. However, opinions diverged was on how best to achieve this common goal and the extent to which this should be mandated through the Code.
Having considered all comments received, the Regulatory Board decided to proceed with the changes to the Code, with the exception of the proposed change that would have required members ‘to encourage diversity, equity and inclusion’.
Accordingly, the Code will be amended to clarify the meaning of the existing requirement to show respect; to introduce a new requirement not to subject others to bullying, victimisation or harassment; and a new requirement that members should speak up if they believe someone is being treated unfairly or excluded unreasonably.
The existing code guidance will also be amended to reflect the new Code requirements, rather than have stand-alone DEI guidance.
Following the decision to proceed with only some of the changes to the Code, the Regulatory Board undertook an eight‑week final feedback period in early 2025, where members, employers and other stakeholders could highlight any significant objections to the proposed changes to the Code and existing Code guidance.
The Regulatory Board carefully considered each of the objections raised during the final feedback period, ultimately concluded that none of the points raised amount to “fatal flaws”, and therefore, no further revision or review of the proposed changes are necessary at this stage.