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United Kingdom

Actuary (United Kingdom)

  • Generic name of profession

    Title:
    Actuary
  • Identification

    Name of regulated profession:
    Actuary
    Translation(s):
    undefined
    Country:
    United Kingdom
    Region:
    All regions
  • Legal information

    Legal basis for regulation

     
    EU Law :
    None
    National legislation:
    Several statutes provide for certain work to be done by a Fellow of the Institute and Faculty of Actuaries.
    Useful link:
    http://actuaries.org.uk

    Regulation

     
    Type of regulation :
    Reserves of activities

    Recognition

     
    Recognition under:
    DIRECTIVE 2005/36/EC
    Additional information :
    Recognition under Directive 2005/36/EC:
    General system of recognition - primary application
    Qualification level:
    PS3 - Diploma of post-secondary level (3-4 years) , Art. 11 d
    Prior check of qualifications for a temporary and/or occasional provision of services:
    No
  • Activities

    Description of activities:
    Actuaries work throughout the financial sector, particularly in investment, insurance and pensions and risk management. Actuarial consultancies are probably the biggest employers of actuaries in the UK. There are many areas where actuaries work including ; • Consultancies - offering advice on issues such as acquisitions, mergers and financing capital projects, and also on occupational pension schemes • Investment - involved in research and on the pricing and management of investments, particularly in mitigating the risk of investments • Insurance - providing a service to companies which need a huge range of numerical information investigated, analysed and explained; for example to create and price polices, or to ensure they have the money to cover claims • Pensions - designing and advising on company pension schemes, especially placing a value on accumulated pension commitments
The database contains information on regulated professions, statistics on migrating professionals,contact points and competent authorities, as provided by EU Member States, EEA countries and Switzerland.
Each country is responsible for updating information, on its regulated professions, competent authorities and statistics.
The Commission cannot be held responsible for the accuracy of the information. However, if errors are brought to its attention, the Commission undertakes to correct them, if deemed appropriate.