Majid
July 24th, 2010, 06:17 AM
كما وصلني بالبريد الإلكتروني
Dear Institute member
Merger of the Faculty of Actuaries in Scotland with the Institute of Actuaries to form the Institute and Faculty of Actuaries
1. Introduction
Members of the Faculty of Actuaries and the Institute of Actuaries who were eligible to vote resolved on 25 May 2010 to merge the two bodies. The change to the Institute’s Royal Charter so as to form the Royal Charter for the Institute and Faculty of Actuaries from 1 August 2010 was approved by Her Majesty The Queen in Council on 9 June 2010. Subject to the agreement of Her Majesty The Queen in Council, the Faculty's Royal Charter will be surrendered on 1 August 2010. From 1 August, the Institute (renamed as the Institute and Faculty of Actuaries) will assume sole responsibility for awarding actuarial qualifications in the UK and the regulation of its members in the public interest.
2. Impact on membership
All Institute members will remain as members of the Institute when its name is changed to the Institute and Faculty of Actuaries on 1 August 2010; changes to the membership database will be made by the Membership Team. No action is required by Institute members, whose class of membership will remain the same at it was on 31 July 2010. However, members may change their post-nominal letters from FIA to FFA or from AIA to AFA if they wish, and that wish should be notified to the Membership Team by 1 August 2010. Once a change has been made, it is not expected that this will be reversed, and from that point onwards all official communications in relation to membership of the Institute and Faculty of Actuaries will carry the chosen designation.
The above provisions also apply to those who do not pay a subscription, such as Honorary Fellows and those long-standing members who are known as “Life members”, to whom a separate communication is being sent.
Students
Students who complete examinations for Fellowship after the date of this letter will be automatically awarded the qualification designation of the body they joined as a student (i.e. AIA/FIA if joined as an Institute student). Those who wish to have a different designation should advise the Membership Team as soon as possible. For some students who joined before 1 July 2004 this choice will have implications for the level of work experience they will be required to demonstrate, and a separate letter about this will be sent to relevant students by the Registrar.
3. Signing of documents
In any circumstances where members are required to state their qualification on any document, including reports and certifications, they should describe themselves as a Fellow or Associate (as appropriate) of the Institute and Faculty of Actuaries. They may use their chosen post-nominals as explained in section 2 above.
4. The on-line Actuarial Directory
The on-line Actuarial Directory will continue to show members’ post-nominal letters from 1 August 2010 in accordance with the provisions of section 2 above. In the case of members who currently have dual memberships:
§ Where the ‘other’ membership was not based upon a qualification (e.g. Affiliate) only the ‘primary’ qualification gained through qualification will be shown after 1 August 2010.
§ Where the ‘other’ membership was based upon a qualification (e.g. FFA, FIA, AFA or AIA) or an Honorary Fellowship, both sets of post-nominal letters will be shown after 1 August 2010.
The Actuarial Directory is linked to the membership database, and a significant system change is required to permit dual qualifications to be shown in the Directory. It is possible, therefore, that the change will not be effective until sometime after 1 August 2010.
Yours sincerely
[Link nur für registrierte Benutzer sichtbar] e%3daW1hZ2UwMDIuanBn%26inline%3d1%26rfc%3d0%26empt y%3dFalse%26imgsrc%3dcid%253aimage002.jpg%254001CB 29C1.30E51EA0&oneredir=1&ip=10.13.0.8&d=d578&mf=0&a=01_9730c93fcd4617976cbc3ae565fe9f8842ac5eae9be6e 955bb504e9c60cc0058
Caroline Instance
Chief Executive
Dear Institute member
Merger of the Faculty of Actuaries in Scotland with the Institute of Actuaries to form the Institute and Faculty of Actuaries
1. Introduction
Members of the Faculty of Actuaries and the Institute of Actuaries who were eligible to vote resolved on 25 May 2010 to merge the two bodies. The change to the Institute’s Royal Charter so as to form the Royal Charter for the Institute and Faculty of Actuaries from 1 August 2010 was approved by Her Majesty The Queen in Council on 9 June 2010. Subject to the agreement of Her Majesty The Queen in Council, the Faculty's Royal Charter will be surrendered on 1 August 2010. From 1 August, the Institute (renamed as the Institute and Faculty of Actuaries) will assume sole responsibility for awarding actuarial qualifications in the UK and the regulation of its members in the public interest.
2. Impact on membership
All Institute members will remain as members of the Institute when its name is changed to the Institute and Faculty of Actuaries on 1 August 2010; changes to the membership database will be made by the Membership Team. No action is required by Institute members, whose class of membership will remain the same at it was on 31 July 2010. However, members may change their post-nominal letters from FIA to FFA or from AIA to AFA if they wish, and that wish should be notified to the Membership Team by 1 August 2010. Once a change has been made, it is not expected that this will be reversed, and from that point onwards all official communications in relation to membership of the Institute and Faculty of Actuaries will carry the chosen designation.
The above provisions also apply to those who do not pay a subscription, such as Honorary Fellows and those long-standing members who are known as “Life members”, to whom a separate communication is being sent.
Students
Students who complete examinations for Fellowship after the date of this letter will be automatically awarded the qualification designation of the body they joined as a student (i.e. AIA/FIA if joined as an Institute student). Those who wish to have a different designation should advise the Membership Team as soon as possible. For some students who joined before 1 July 2004 this choice will have implications for the level of work experience they will be required to demonstrate, and a separate letter about this will be sent to relevant students by the Registrar.
3. Signing of documents
In any circumstances where members are required to state their qualification on any document, including reports and certifications, they should describe themselves as a Fellow or Associate (as appropriate) of the Institute and Faculty of Actuaries. They may use their chosen post-nominals as explained in section 2 above.
4. The on-line Actuarial Directory
The on-line Actuarial Directory will continue to show members’ post-nominal letters from 1 August 2010 in accordance with the provisions of section 2 above. In the case of members who currently have dual memberships:
§ Where the ‘other’ membership was not based upon a qualification (e.g. Affiliate) only the ‘primary’ qualification gained through qualification will be shown after 1 August 2010.
§ Where the ‘other’ membership was based upon a qualification (e.g. FFA, FIA, AFA or AIA) or an Honorary Fellowship, both sets of post-nominal letters will be shown after 1 August 2010.
The Actuarial Directory is linked to the membership database, and a significant system change is required to permit dual qualifications to be shown in the Directory. It is possible, therefore, that the change will not be effective until sometime after 1 August 2010.
Yours sincerely
[Link nur für registrierte Benutzer sichtbar] e%3daW1hZ2UwMDIuanBn%26inline%3d1%26rfc%3d0%26empt y%3dFalse%26imgsrc%3dcid%253aimage002.jpg%254001CB 29C1.30E51EA0&oneredir=1&ip=10.13.0.8&d=d578&mf=0&a=01_9730c93fcd4617976cbc3ae565fe9f8842ac5eae9be6e 955bb504e9c60cc0058
Caroline Instance
Chief Executive