CPD compliance
All members are required to complete Continuous Professional Development (CPD) activities each calendar year to maintain, improve and broaden their knowledge and skills.
CPD compliance for members
All members must comply with the requirements set out in Professional Standard 1: Continuing Professional Development (PS1), unless they have applied for, and have been granted an exemption by Council (see below).
Members are required to complete 100 points of CPD per calendar year (or 200 points of CPD in aggregate over the previous two years, provided at least 50 points are completed in each year), regardless of practice area or full-time equivalency.
Members working part-time or outside of traditional practice areas must still comply with minimum CPD requirements. CPD activities should, however, be relevant to a member’s current role (which may not be actuarial) and members are advised to exercise their own judgment regarding CPD activities undertaken.
Members are required to maintain a personal record of the points obtained in respect of CPD activities. This record can be any system that is efficient to you (e.g. a handwritten note, an Excel spreadsheet) or you can claim your points through our website and the CPD dashboard in your member portal.
CPD compliance audits
As part of its regulatory functions, the Institute is obliged to carry out an annual CPD compliance audit. This mandatory process serves to maintain the high professional, ethical and technical standards of our members that the public expects. It also serves to ensure that our members can continue to enjoy the reputation from which all members benefit.
Members will be chosen to participate in an audit, and will receive notice in writing either by email or a hard-copy letter to their address registered with the Institute. The notice will include a closing date for receipt of full CPD records and the years being audited. Upon receipt, the records are acknowledged and reviewed.
Members will be contacted should more information be required and, once the process is complete, are advised of the outcome of the audit.
Failure to comply with the CPD requirements set out in PS1 is, or may be, prima facie Misconduct and may lead to penalties under the Institute’s Disciplinary Scheme. Like most professions, we require our members to declare their compliance with CPD as part of their annual membership renewal.
A member determined by Council not to have reasonable grounds for their non-compliance may also be:
- issued a warning letter regarding their non-compliance;
- required to undertake further CPD;
- required to provide quarterly records of their CPD activities for a specified period; and/or
- issued a warning letter noting that they will be audited for compliance and repeated breaches may constitute Actionable Conduct under the Institute’s Disciplinary Scheme.
Annual renewal declaration
All members are required to confirm their compliance with (or exemption from) PS1 as part of the annual membership renewal process.
Meeting the CPD requirements for multiple associations
Overseas members must comply with the CPD requirements of both the Actuaries Institute and any local associations they belong to.
Even if you live overseas, you must still comply with the CPD requirements of the Actuaries Institute.
Exemption from CPD
All members are required to undertake CPD to comply with Professional Standard 1. In limited circumstances, members may apply to Council for an exemption from PS1 for a specified period.
A member who is:
- Either retired, on extended or maternity leave, or has other special circumstances; and
- Is not providing a professional service,
may apply to Council in writing for an exemption from the requirements of Professional Standard 1: Continuing Professional Development (PS1) by submitting a CPD Exemption Request .
PS1 (s4.9) requires applications for exemptions to be made on a prospective basis. Any retrospective applications will only be considered under exceptional circumstances at the discretion of Council.
CPD requirements
All members’ CPD requirements can be found here.
PS 1: Continuing Professional Development (PS1) sets out the minimum standards of Continuing Professional Development required of members of the Institute.
PS 1 Continuing Professional Development Explanatory Memorandum has been prepared to assist members in understanding CPD.
For quick answers to your CPD queries, view our Top 10 Frequently Asked Questions .
CPD help and tools
We help members meet their CPD requirements with a progress tracker, CPD log and tools within the member portal. Members can claim points after reading articles across our website, or have them bank up in their unclaimed log after attending events or downloading publications across our website.
What’s on
To earn CPD points while building knowledge and connections, members can attend our upcoming events.
