Education

Updates for FCIA Members and Employers

We are transforming our pathways to designations in ways that ensure continued relevance, recognized value, and international portability.

What you need to know

As things change in our world and our profession, we are taking advantage of today’s technology and best practices to make qualification pathways more inclusive and collaborative. We are mindful of and responding to, the diverse and ever-evolving needs of members, employers, and key stakeholders. We will keep you informed as we move forward with this transformation.

Our new approach is designed to:

  • Ensure our education programs and ACIA/FCIA designations are up to date and relevant in a shifting actuarial landscape.
  • Uphold and potentially improve the recognized quality and portability of our professional designations across Canada and around the globe.
  • Require more practical education and experience relevant to the Canadian context.
  • Improve the accessibility and inclusiveness of our programs.
  • Better respond to the needs of students, members, accredited universities, employers, and key stakeholders, as well as the actuarial profession in Canada.
  • Be self-sustaining with no impact on dues.
  • Align with employers' existing education and recognition programs to save you time and money.

How the new pathways are being developed

We are taking a consultative and collaborative approach to ensure CIA programs are developed in ways that reflect current needs and business challenges.

We are:

  • Looking at and incorporating best practices of other professions.
  • Consulting key stakeholder groups including employers, regulators, and other actuarial organizations.
  • Using external providers that are experts in education.
  • Enabling innovation and completion of most ACIA syllabus requirements through accredited university degree programs in actuarial sciences.
  • Focusing on practical knowledge through open-book examinations assessing technical skills, practice-specific modules and examinations, the Practice Education Course (PEC), and a proposed expansion in required overall and Canadian-specific actuarial experience for FCIA designation.

Transition process and timeline

During a transitional period, a combination of UAP credits and education and examinations of other actuarial organizations may be accepted in lieu of some ACIA/FCIA requirements. Complete details for the pathways and final transition rules will be available in the first half of 2022.