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09.01.2018

PPD – A summary of what you need to know

In 2017 the Institute and Faculty of Actuaries have introduced a new Personal and Professional Development (PPD) scheme for actuarial students, which will replace the Work-based Skills (WBS) scheme currently in use. Three years of PPD will soon be a requirement for anybody wishing to qualify as an actuarial Fellow but there are special transition rules for people who have already started recording WBS.

If you are an actuarial student in the UK, here is a quick run-down of what you need to know:

PPD requirements

How it works

Examples of Competencies

The Competencies listed here are the mandatory Competencies under each Objective, but give an idea of the sort of things required:

Transition period

To qualify inMinimum WBSMinimum PPD
Sep 17 – Aug 1836 monthsnone
Sep 18 – Aug 1924 months12 months
Sep 19 – Aug 2012 months24 months
Sep 20+none36 months

 

Hopefully the above was a useful summary of the key points. For further information, you can refer to the material published by the IFoA itself. In particular, the PPD page on their website (https://www.actuaries.org.uk/studying/personal-and-professional-development-ppd) and the PPD guide (https://www.actuaries.org.uk/documents/ppd-guide, which contains a full list of the Competencies) may be useful. Lastly, the IFoA have indicated that Education Services are willing to answer questions from any student about their individual circumstances.

Troy Cruickshank

January 2018

Troy Cruickshank