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Start now on the Institute and Faculty of Actuaries website

Overview

Contact the Institute and Faculty of Actuaries (IFoA) if you want to study to be an actuary in the UK.

Requirements

There are minimum academic qualifications you’ll need if you want to join the Institute and Faculty of Actuaries.

Entry level Required
No degree 2 A levels including maths, grade B, and another subject, grade C
First or second class honours degree A level in any maths subject, grade C
Third class honours degree Major part of degree must be a maths science subject

You can read more about admissions criteria.

How to apply

Fill in an application form for student membership and post it to the IFoA with:

  • the signatures of 2 personal referees - they must be qualified professionals, eg a doctor, actuary, university professor, and must have known you for 2 years
  • photocopies of your qualification certificates - these must be certified (signed) by 1 of your referees or another qualified professional
  • the entrance fee and annual subscription payment

The address you need is on the form.

The Institute and Faculty of Actuaries
01865 268 228
Find out about call charges

Fees

For UK residents the entrance fee is £172 and the annual subscription is £282, or £69 if your income is less than £8,460.

You must apply at least 4 weeks before your first exam.

Qualifying as an actuary

It takes 3 to 6 years to qualify as an actuary on average.

You qualify by:

  • completing the IFoA’s exams which you study through distance learning
  • completing a number of practical modules
  • showing work-based actuarial skills

Once qualified, you’ll become either a fellow or associate member of the Institute and Faculty of Actuaries.

Penalties

If you cheat in actuarial exams, do work you’re unqualified for or are found guilty of other misconduct by the IFoA’s disciplinary board, a student or qualified actuary can:

  • have a practising certificate withdrawn for a period of time
  • be fined
  • be suspended from the IFoA for up to 2 years
  • be expelled from the IFoA for up to 5 years

If you’re unhappy with a decision you can appeal to the IFoA’s Appeals Tribunal.