Becoming a Fellow

Fellowship is the highest level of actuarial qualification attainable.

Fellows are entitled to use the letters FIAA after their name and may sit on Institute committees, stand for Council, vote in Council elections and at General Meetings. The FIAA qualification is recognised in many countries and is held in high esteem both within Australia and within the international actuarial community.

Fellowship with the Institute is granted once a Member has either:

• been approved by Council for the qualification of Fellow of the Institute of Actuaries of Australia (FIAA) after having passed or been exempted from examinations of the Institute, satisfied twelve months practical experience in the field and completed a recognised professionalism course; or
• been approved by Council to transfer to the qualification of Fellow of the Institute of Actuaries of Australia (FIAA) after having completed the required experience of living and working in Australia (or, in certain cases, in either or both of Australia and New Zealand) as an Accredited Member.

Transferring Accredited Membership to Fellowship

In response to the signing of mutual recognition agreements, the Institute of Actuaries of Australia will accept the transfer of an Accredited Member of the Institute of Actuaries of Australia who is currently an FIA, FFA, FSA, FSAI, FCIA, FCAS, FASSA or FASI to a Fellow of the Institute of Actuaries of Australia (FIAA) after a waiting period of six months, during which time they must work and reside in Australia.

In respect of a Member admitted as an Accredited Member under the terms of the Institute's policy with respect to Fellows of the New Zealand Society of Actuaries (as set out above), the Institute of Actuaries of Australia will accept the transfer of such an Accredited Member to a Fellow of the Institute of Actuaries of Australia (FIAA) after a waiting period of six months, during which time they must work and reside in either or both of Australia and New Zealand.

Until such time as there are mutual recognition agreements with the other bodies, the normal waiting period for Accredited Members prior to becoming a FIAA is three years, during which time they must reside and work in Australia and maintain current financial membership as a Fellow of their overseas body.

Download Transfer from Accredited Member to Fellow Application.

Life Membership

Life membership is conferred on Fellows in acknowledgment of extraordinary services to the Institute. Proposals for Life Membership are voted on by Council and if in favour, are nominated for election at the next General Meeting. Life Members are excused ongoing dues payments.