Career breaks can be a wonderful opportunity; however, planning for them can also be a daunting experience 鈥� especially in a field where the sharpness of your practice is so crucial, where change is a constant and where competition is intensifying.
Career breaks take many forms: sabbaticals for study or travel, parental leave, illness, care roles, or unemployment, perhaps following redundancy. We answer some member questions below, which we hope will provide some guidance, along with some useful links.
How does the IFoA ensure that the Continuing Professional Development (CPD) Scheme is inclusive?
The CPD Scheme has been designed to provide members with greater freedom, but also increased responsibility, for their ongoing learning and development. The CPD Scheme defines CPD activities as 鈥楢ctivities that involve learning relevant to a member鈥檚 actuarial work (current or future) or professional development, which address a personal development need and have an identifiable learning outcome鈥�.
The definition is purposely broad to enable members to direct their learning to meet their individual needs, including the development of soft skills. Activities can be wide-ranging and include, for example, lectures, seminars, workshops, webinars, personal reading and research. It can also include carrying out actuarial work where there is a relevant learning outcome.
Members can use CPD as a tool to develop the skills or knowledge that they require, for the area they currently, or aspire to work in, wherever they are based.
How does the IFoA ensure that the requirements of the CPD Scheme are inclusive?
The CPD Scheme is designed to be inclusive, offering a range of options to accommodate the diverse needs of all members. Its broad definition of 鈥楥PD activities鈥� allows members the flexibility to choose learning that best suits their personal learning style, and Non-Practising status is available for those who are away from work or not currently engaged in technical actuarial work.
If you are on parental leave, or leave due to ill health, you will not be required to carry out any CPD and are deemed to be 鈥楴on-Practising鈥� for the period of your absence. If your leave does not span the entirety of the CPD Year (01 Sept -31 Aug), you are entitled to a pro-rated CPD requirement.
You can also apply for Non-Practising status if you are not involved in technical actuarial work by completing the . If you work for a QAS organisation that adopts the QAS CPD Scheme, you should follow your organisation鈥檚 requirements about absences from work.
If you have any further queries, please contact us at cpd_feedback@actuaries.org.uk
How does the IFoA ensure that reflective practice is inclusive?
Reflective Practice Discussions (RPDs) are a method by which your professional development can be supported through a discussion with an Appropriate Person of your choice. RPDs provide an opportunity for you to reflect on your learning outcomes and how you鈥檙e applying that knowledge.
The CPD Scheme defines an Appropriate Person as 鈥淎n individual identified by the Member, who understands the nature of the Member鈥檚 Actuarial Work, their development, and their Learning Outcomes鈥�. Your Appropriate Person need not be a member of the IFoA nor an actuary. You have the freedom to choose an individual of your choice to enable you to get the most benefit out of your annual RPD, and to create psychological safety when sharing personal reflections. To find someone who can fulfil this role for you, or to gain a fresh perspective, you can access a list of IFoA volunteers willing to act as an Appropriate Person. Reflective Practice Discussions can take place any time after you have completed your CPD requirements for the year, offering further flexibility.
If a member is selected to participate in an IFoA-led RPD, they are provided with a detailed brief of what to expect before, during and after the discussion, and offered additional support and accessibility options. IFoA-led RPDs and Group RPDs are facilitated in a way that enables members to reflect in their preferred manner. They do not follow a one-size-fits-all format and are tailored to meet individual needs to support and provide benefits to you.
How does the Practising Certificates scheme account for things like maternity/paternity leave, full/part-time working, and other similar aspects?
The Practising Certificates (PC) Scheme has transitioned from a narrow focus on experience requirements to a competency-based approach, ensuring an effective, fair and inclusive process for members looking to obtain and retain a PC.
Members are required to demonstrate how they meet the competencies set out in the relevant competency framework, which focuses on the broad range of knowledge and skills required for the specific role/s the PC covers. All applicants, whether applying for their first PC or renewing a PC, can draw upon wider experiences and training to demonstrate those competencies, which can be through work reserved for a PC holder, other work carried out by the applicant or even through experiences outside of their work life, such as volunteering.
Although it is expected that applicants are able to demonstrate 鈥榣ive鈥� competency in each area, there are no defined time periods set out in the PC Scheme, and a flexible approach is taken. This means that PCs can be achieved and maintained regardless of working patterns and periods of absence.
Members who previously held a PC and did not renew during a period of parental leave or ill health can renew by submitting a Full Renewal PC Application Form upon their return to work, where they will be required to demonstrate how they continue to meet the competencies. For more information on the application process, please review the PC Handbook.
If you would like to discuss your individual circumstances, you can contact practising.certs@actuaries.org.uk
How can IFoA communities support me as a returner?
The IFoA communities platform and the connected app provide actuaries with an inclusive and collaborative environment to exchange knowledge, solve challenges, and stay informed on the latest industry discussions in a supportive and inclusive community.
Members can join or start discussions on the topics they want to hear about in our all-member and community group forums. The communities platform also hosts dedicated forums for the 鈥榃omen Actuaries community鈥� and 鈥楽tudent community鈥�, which can support those returning to the profession by connecting them with other members and providing a forum for support, in-person events, and other ways to engage with developments in actuarial work.
IFoA community forums are a great place to collaborate, learn, and problem-solve with your peers while keeping up with emerging topics and debates in your areas of interest.
Members can search by geography, role, or shared areas of interest by exploring community groups and connecting with like-minded individuals and collaborating around topics that are of interest. Members can also explore topics in depth through the community collection of articles on developments in the field and links to relevant community resources, and discuss hot topics and the latest research in the community group forum.
A free and confidential space for members to ask questions about the interpretation and application of professional and technical standards. The Helpdesk can also help with guidance on ethical issues that a member may be facing in their actuarial work. If you are looking for support in any of these areas, please contact the Helpdesk.
Whether you are applying for an initial or renewal PC, the PC Team can help guide you through the application process. The Team can also put you in touch with a member of the Practising Certificates Committee if you require more tailored guidance on your personal circumstances.
A dedicated space where actuaries at all career stages, whether newly qualified, mid-career, or experienced, can connect with peers and seasoned professionals to build meaningful, one-to-one mentoring relationships.
Open to all IFoA members, this free platform offers a flexible and personalised way to grow professionally.
The IFoA also supports a cross-company mentoring scheme. The Actuarial Mentoring Programme is a cross-company mentoring programme run annually, sponsored by PIC and supported by the IFoA. Find out more in the , including contact information.
For those who have been out of work for a while, many of the larger employers of actuaries offer Reconnection programmes. Here are a few of them:
Separately, the IFoA Foundation also offers international mentoring opportunities.
While you are away from paid work, keep up to date with the profession through our conferences, events, and webinars, , and our journals. Remember to also keep your contact details up to date so you don鈥檛 miss out on important updates by updating your details in .
You can continue to build your network and enhance your lifelong learning through engagement in volunteer roles and with our professional communities. Your perspective will be valued 鈥� so get involved if you can and find out more about volunteering.