In this month’s Actuary Magazine Tim McMahon outlines the new requirements for actuaries wanting to work in the UK and provides a summary of the UK governemnt’s points based immigration system.
The requirements for the Tier 1 (General) visa (previously known as the Highly Skilled Migrant Programme) were changed in April 2010 to permit applicants with only a Bachelor’s degree to apply but requires higher previous earnings.
The trade-off between lowering the minimum educational requirement to a Bachelor’s degree, while increasing the earnings requirement, has benefited actuarial applicants. This in turn helps employers as the Tier 1 visa does not require the employer to sponsor the overseas employee or to apply for a work permit. The Tier 1 visa readily permits the holder to work in the UK and to switch employer as they wish.
Dr Geraldine Kaye, managing director of GAAPS Actuarial, says:
“We are delighted about these welcome changes to the points-based system, and these will allow UK employers to continue to tap into the international market for the right skills / experience.”