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:
Technical Strand
Developing technical skills and abilities in the actuarial field supporting the technical execution within the profession.
Normative Strand
Developing behavioural, professional and supporting knowledge and skills
Organisational Strand
Developing the Society as a professional body and growing the profession.
Listen to Niel Fourie and Niel Savage on Outcomes Based CPD as presented at the 2019 annual Convention.
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.
What if I have more CPD questions?
Useful frequently asked CPD questions are available that may just answer your question.
If you are still unsure direct your enquiry to cpdqueries@actuarialsociety.org.za
CPD Compliance Monitoring:
The Society will annually sample members who are required to comply with CPD to participate in a reflective discussion with a professional business coach. The reflective coaching is used to monitor CPD compliance and is an extension to the CPD programme. A panel of professional business coaches are approved and appointed by the Society to perform reflective discussions with members. The purpose of the discussion will be to support members in evaluating their professional development past and planned, and to assist ASSA through this channel of feedback in identifying areas to improve and strengthen the CPD programme, as well as to provide the public and the Society with independent assurance that effective CPD is taking place, as envisaged in our Professional Promise.