Membership admissions and subscriptions
Membership data maintenance and having the correct information on all our members are vital to ensure quality service.
Please check the ASSA Events Calendar for the dates. Click 2023 Induction Programme to view more detail on this year’s offering and to register. Please register for the event as a non-member if you are not yet an ASSA member.
Note: ASSA Induction is free to all actuarial graduates.
Students Member applications
For you to enter for examinations or apply for exemptions you first need to apply for student membership of the Actuarial Society of South Africa.
Categories of membership with ASSA is dependent on the individual’s interest and impact on the actuarial profession, the access to activities and events offered as well as the receipt of relevant communication. All membership applications are reviewed through the ASSA Council and Admissions governance process for approval.
N.B: Education transactions towards obtaining an ASSA designation requires admission as an ASSA student member.
- Interest Group
High school learners, educators and non-actuarial tertiary students with an interest in understanding and pursuing studies in actuarial science.
Individuals who are interested in transacting with ASSA for a specific event, activity or role that allows for non-members of ASSA to participate. Where relevant, payment will be expected upfront and via credit card only.
- Affiliate :
Individuals with membership from other industry-specific professional bodies to access ASSA membership transactions such as CPD events, relevant communication, and participation at member rates. A recommendation from a FASSA is required to support this application.
- Affiliate Actuarial:
Individuals who are designated Fellows from a mutually recognised member organisation and wish to be recognised and engage with the South African industry. Individuals may access all events, receive all communication and enjoy member rates when participating and transacting with ASSA.
- ASSA Student Member
Individuals who are journeying towards their professional actuarial designations must first apply for ASSA student membership to access exams, process exemptions and to progress their actuarial career. Specific requirements must be met and the application must be fully completed.
Please contact: firstname.lastname@example.org for more information.
APPLICATION FOR CRITICAL SKILLS / PERMANENT RESIDENCY LETTERS
To apply for a critical skills / permanent residency letter, you need to read the following document carefully Guidelines for critical skills confirmation 2023.pdf and meet the following requirements:
- Currently an active member in good standing for at least 6 months i. member subscriptions for the current year must be paid in full without an outstanding balance on the account.
- Has the necessary qualifications and work experience:
o Has graduated with an actuarial degree from a level 2 ASSA accredited university.
o Has graduated with an accepted bachelor’s degree and has met the ASSA student admission requirements.
o Has at least 2 years’ working experience in the financial sector (FAIS requirements in South Africa require a minimum of two years under supervision for applicants who are entering the field for the first time.)
- Has a current offer of employment from a verifiable organisation where the position will contribute to the actuarial profession. A copy of the appointment letter is required.
- Must have completed at least 5 of the required Core Technical exams towards the Technical Membership with ASS
- If the member is already a qualified Fellow actuary with a professional organisation with whom ASSA has a Mutual Recognition Agreement, the process for admission as an Affiliate member must be followed with confirmed intention to becoming a FASSA.
The initial/renewal enquiry and supporting documentation are to be emailed to: Nicky September email@example.com
The application can take up to 2 weeks for review and approval.
The admin fee for the letter is currently R5 840 incl VAT. Proof of payment is required before the letter can be issued.
Once the letter has been issued and the applicant is successful in obtaining the visa it is a requirement for the applicant to remain a member of ASSA. Annual membership renewal subscription period begins in November of the current year and ASSA is obligated to inform the DHA when membership lapses.
Please note: Each application will be considered on its own merit, however the above will serve as guidelines.
*The Actuarial Society of South Africa (ASSA) reserves the right to refuse the issuing of a confirmation of critical skills / permanent residence letter. *
Members declaration on application:
- I am a lawful person of good standing both professionally and personally
- I am familiar with and comply with the professional code of conduct
ASSA reserves the right to call for original documentation.
Library membership of the Actuarial Society is available to individuals who have an interest in actuarial science but are not eligible for membership in another type.
This is suitable for individuals who do not meet the requirements for student membership. This allows individuals who are not sure whether they want to qualify as actuaries to become familiar with the organization and the actuarial profession.
Library members receive all student and general e-mail communication sent by the Actuarial Society including job adverts.
Member subscriptions are due in advance annually during the first quarter of the calendar year.
You can renew your membership via your online member profile
A renewal notice will be sent to all members annually by December highlighting the online process and the timelines that will apply. Note that students writing exams in South Africa need only apply for membership and register with one professional body with ASSA being the local professional body.
Should you wish to terminate your membership, you may do so by opting to terminate when prompted to renew via your online member profile.
Transfer membership / membership type
- Transfers between membership types upon qualifying as an Associate or FellowExisting Actuarial Society members who want to have their membership type altered, for example upon qualifying as an Associate or a Fellow, should complete the Transfer of Membership application form and return it to the Actuarial Society.
- Applications for Fellow or Associate membership of the Actuarial Society in terms of a Mutual Recognition Agreement Members who are, or qualify as, Fellow/Associate members of IAA Associations with which the Actuarial Society has a Mutual Agreement (MRA) , may apply to be admitted as Fellow/Associate members of the Actuarial Society by applying for such admission in terms of the relevant MRA.
To apply, complete the Member transfer from other organisations form and return it to the Actuarial Society.
If membership lapsed due to non-payment of subscriptions and the member applies for reinstatement, all arrears subscriptions plus a reinstatement fee equal to the subscription for the previous year is payable.
Mutual Recognition Agreements
Since 2010 the Actuarial Society has offered its own Fellowship (FASSA) and Associateship (AMASSA) designations as internationally recognized professional qualifications.
International recognition with institutions is formalized by the signing of Mutual Recognition Agreements (MRAs) between professional actuarial associations in different countries. MRAs recognize the equivalence of qualifications and facilitate admission to membership of associations in other countries with the corresponding professional designation, subject to certain conditions.
View these MRA HERE