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UK professional body
The Institute and Faculty of Actuaries (IFoA) is the United Kingdom's chartered professional body for actuaries. It represents and regulates more than 34,000 members worldwide and works internationally through offices in London, Oxford and Edinburgh and regional offices in Beijing, Malaysia and Singapore. The profession is overseen in the UK by the Financial Reporting Council (FRC), which sets technical actuarial standards and monitors the IFoA's regulation of actuaries.2 Wikipedia text CC BY-SA 4.0
Last updated Oct 21, 2026.
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The Institute and Faculty of Actuaries (IFoA) is the United Kingdom's chartered professional body for actuaries. It represents and regulates more than 34,000 members worldwide and works internationally through offices in London, Oxford and Edinburgh and regional offices in Beijing, Malaysia and Singapore. The profession is overseen in the UK by the Financial Reporting Council (FRC), which sets technical actuarial standards and monitors the IFoA's regulation of actuaries. The IFoA was created in 2010 by the merger of the Institute of Actuaries (founded 1848) and the Faculty of Actuaries (founded 1856). In November 2024 the IFoA introduced the Chartered Actuary designation for Fellow and Associate members.2
The IFoA came into being on 1 August 2010 following the merger of the Institute of Actuaries and the Faculty of Actuaries in Scotland. The merger was implemented by amendments to the Institute's Royal Charter and accompanying governance documents, with the combined body assuming the assets and liabilities of the former organisations.
From Wikipedia’s article on Institute and Faculty of Actuaries, shared under CC BY-SA 4.0.5
The IFoA supports the Continuous Mortality Investigation (CMI), which provides mortality and morbidity experience analyses and practical tools widely used by actuaries. The CMI Mortality Projections Model is updated regularly; Working Paper 201 introduced CMI_2024 in June 2025, calibrated to population data to 31 December 2024. The CMI also publishes regular mortality monitors for England and Wales and periodic updates on recent experience.
The IFoA’s research and thought-leadership activity has been repositioned in recent years, with the Actuarial Research Centre (ARC) closed and resources focused on member-led and industry-collaboration projects.
From Wikipedia’s article on Institute and Faculty of Actuaries, shared under CC BY-SA 4.0.5
All members are bound by the Actuaries’ Code, which sets core professional principles. Version 3.2 of the Code took effect on 25 September 2025, accompanied by updated guidance.
Within the UK geographic scope, members must also comply with the FRC’s Technical Actuarial Standards (TASs), including TAS 100 (General) and the relevant Specific TASs (for example TAS 200: Insurance; TAS 300: Pensions; TAS 400: Funeral Plans).
The IFoA operates the Quality Assurance Scheme (QAS) for organisations employing actuaries; as at 31 October 2024 there were 42 accredited organisations, with additional firms covered by the QAS CPD scheme. It also acts as a Designated Professional Body under Part XX of the Financial Services and Markets Act 2000, licensing firms for certain exempt regulated activities.
From Wikipedia’s article on Institute and Faculty of Actuaries, shared under CC BY-SA 4.0.5
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