The Institute and Faculty of Actuaries (IFoA) came into being on 1 August 2011. It is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally.
At a Special General Meeting held on 25 May 2010 voting members of the Faculty of Actuaries in Scotland and the Institute of Actuaries voted in favour of a merger of the two bodies.
The Queen in Council granted an amendment to the Royal Charter of the Institute of Actuaries in terms that converted it to the Charter for the IFoA. The assets, liabilities and membership rights of the Faculty of Actuaries in Scotland were transferred on that same day to the IFoA and the Royal Charter of the Faculty of Actuaries in Scotland surrendered.
Under our Royal Charter we have a duty to put the public interest first.
We represent and regulate over 28,000 members worldwide for the benefit of the outside world and oversee their education at all stages of qualification and development throughout their careers. By joining the IFoA, members are making a personal commitment to high standards of education, competence and integrity.
Our future is shaped by our vision and values and by our long term strategic objectives.