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CPD – Info on Upcoming Events and the New IFoA Scheme

The actuarial CPD landscape has changed considerably since our last update, with many events understandably being postponed or cancelled due to COVID-19.  However, the IFoA and other organisers have done an admirable job of moving a large number of the planned conferences and events online, with regular webinars now being run to help us all complete our CPD requirements from home.

Things are changing on the CPD requirements front too.  Last month, the IFoA set out the results of their consultation process on changes to the CPD regime that ran earlier this year.

In this article, we’ll take a brief look at some of the key changes being introduced as part of the new CPD scheme, as well as providing a summary of some upcoming CPD events that have piqued our interest at APR.

Changes to the IFoA CPD Scheme Announced

On the 18th June, the IFoA released the final version of the CPD scheme for the 2020/21 year, with changes coming into force in September 2020.  This includes many of the changes that were mooted as part of the consultation earlier in the year, plus a small number of further tweaks following the review of responses.  The new approach aims to modernise and simplify the CPD process and moves to a more outcomes-focused approach.

The key differences between the current CPD scheme and the new scheme are summarised below:

Overall, the changes are positive, with the expanded and more forward-looking CPD activity definition, combined with the reflective practice discussions, likely to lead to more meaningful learning and development taking place, and helping to ensure that actuarial skills keep pace with business and technological changes.

However, there are still some unknowns in the new scheme, such as the intended form and operation of the reflective practice discussions, in particular those being conducted by the IFoA.  Further details and guidance related to the new scheme are expected to be published in the coming months leading up to the new scheme coming into force, so we should find out more then.

Upcoming CPD events

As part of the transition between the previous CPD scheme and the new scheme, the deadline for meeting the 2019/20 CPD requirements was extended to the 31st August.  However, the IFoA have confirmed that if you have already met your requirement for 2019/20, any CPD carried out in July or August 2020 can be used towards your 2020/21 total instead.

So, whether you are looking to pick up the last few hours for this year or looking to make an early start for next year, here are a few upcoming events that have piqued our interest at APR.



Ross Gordon

July 2020