Continuing Professional Development (CPD)
Continuing professional development (CPD) is essential for all members of the Society. ASSA has introduced an output based system that is being phased in to replace the existing time-based system. This will allow you to focus on what you need to learn and develop and not on how many hours you spend. The CPD Committee, Professional Matters Board and Council, therefore, strongly recommend that you embrace and participate in the new scheme.
“Old” CPD Time based
“New” CPD Outcomes based
What is CPD?
A programme that sets guidance through its requirements to foster member engagement in lifelong professional learning. This includes the maintenance, improvement and broadening of knowledge and skill, and the development of the personal qualities necessary for the execution of professional and associated duties throughout the actuary’s working lifetime. Read more about how ASSA understands and interprets CPD .
The CPD framework is designed to support the three pillars of the professional promise and learning should be demonstrated across all three strands:
Developing technical skills and abilities
Developing behavioural, professional and supporting knowledge and skills
Developing the Society as a professional body and growing the profession
Why is CPD important?
It’s all about delivering on our professional promise: To meet the highest professional standards, expand expertise as market conditions change to new areas of specialisation, to build a reputation for relevance both locally and abroad and to inform public debate by harnessing our member expertise.
Who needs to do CPD?
CPD is compulsory for all active members of the Society as well as long-standing Student and Affiliate Members with more than ten years of membership with the Society.
What is the change in CPD all about?
ASSA has introduced the option to structure your CPD in cycles supporting your career with the introduction to outcomes-based CPD . Members will no longer be required to use a time-system of hours to meet their learning and development needs. Read the quick guide to outcomes based CPD
How do I go about doing CPD?
Members who became fellows before 30 November 2017 can choose which of the 2 options to follow during the transition period. Note that new member who became Fellows or Associates after 30 November 2017 must comply with outcomes-based CPD.
Outcomes Based CPD:
Time Based CPD:
When do I complete my CPD?
CPD is an ongoing process of professional development. However, for record keeping purposes the CPD year runs from 1st December to 30th November. Confirmation of CPD compliance must be logged before 31st March of the following year. Complying with CPD requirements is essential for renewal of membership each year.
Where do I record my CPD?
For the Time-based CPD option, login to your member profile to complete your CPD records for certification purposes.
In the outcomes-based system, you keep your own records. At year-end, you certify compliance in the annual membership renewal process and complete an anonymous survey. Some members will be selected for monitoring by the CPD committee, and records should be retained to demonstrate compliance when requested.
Extension to Outcome-Based CPD:
Reflective coaching is an extension to the outcomes-based CPD programme. The purpose of the discussion will be:
To further assist members to reflect on the progress they have made in their personal development plans, by facilitating a discussion with a dedicated professional coach and to provide a channel of feedback on the effectiveness of the Outcomes-Based CPD system, as well as identifying common development needs that the Society may be able to fulfil. To provide assurance to the public and the Society that effective CPD is taking place, as envisaged in our Professional Promise.