Institute – Faculty Merger: New Vote Announced

The Institute and Faculty of Actuaries have released a revised merger package and have announced that the merger vote will be held at 1700 on 25 May 2010.

The key elements of the merger package include:

  • A proposal to call a merged body ‘the Institute and Faculty of Actuaries’
  • Revised governance documents reflecting the input from the member consultation
  • A proposal for both existing and new members to use the existing letters FIA, FFA, AIA and AFA
  • A proposal to continue using ‘the Actuarial Profession’ for all external branding.

A document detailing the case for the merger has been published by The Actuarial Profession and sets out the Joint Council’s thinking and analyses the four main options under consideration:

  • Merge both bodies as currently proposed
  • Develop contractual arrangements to underpin joint working
  • De-couple both bodies to create two separate organisations
  • Keep the Faculty as a learned society with the Institute being the professional body for working actuaries.

The microsite for information about the joint proposal is it includes statements both in favour and in opposition to the merger.

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