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.