Judgment Day

They've just sent out the fortnightly update with the tribunal mentioned:

"IFoA to appeal UK employment tribunal decision
A British student member recently brought claims against the IFoA, alleging discrimination on the basis of nationality compared to members domiciled in India. He claimed that the IFoA’s recognition of the Institute of Actuaries of India (IAI) examinations discriminated against British nationals by providing Indian domiciled students with more opportunities to sit examinations than for those of British nationality.

Such recognition arrangements with the IAI or any other actuarial association have been suspended since the autumn of 2018.

The case was heard by a UK tribunal which published its judgment in May 2019. The tribunal found against the IFoA on three out of four claims. This was principally on the basis of our association with the IAI; the tribunal concluded that the IAI had an admissions policy for student membership that had been discriminatory against British nationals.

The IFoA is naturally concerned by the outcome of this case. It has contested throughout its involvement in any discriminatory arrangement or understanding with the IAI. The IFoA is therefore disappointed in this aspect of the judgment and, on the advice of external lawyers, has lodged an appeal."​

 

Members should really read the Judgment, the details are shocking. IFoA failed to act on the complaints. Plus they've misrepresented the claim - it's not about domicile but nationality and that comes under race discrimination. IAI has held exams in London that Brits couldn't do as couldn't join IAI, as the Court found.

 

Excellent - in my opinion it's good that the IFoA has lodged an appeal, as is their right if they feel the judgment is unfair. This must be the reason for the delay they had in commenting.

 

They are appealing with members' money without telling them what it's about. They should tell members how much their failed defence and now appeal adventure is costing us all.

 

Yawn. Not even going to waste my time debating with you as it'll just end up with you repeating the same old points at length all over again...

 

If they were more competent and genuinely disliked discrimination they would have addressed this problem years ago instead of having this dirty laundry in public. It is silly money wasted on lawyers to argue the unarguable 2 just as good as 4, and so on. This is what you get for your exam fee folks less than 20% of it on actually marking and 80% going to IFoA to pay for this kind of gross incompetence. The end result here is the actuarial profession brought into disrepute. Why do we put up with it?

 

Having read the judgement I am not overly pleased with this part of the comment but at least the IFoA has taken action to remove the loophole. However unless the IAI implement the same rule, it still means that IAI members can can exemptions from the IAI exams by passing IFoA ones and then gaining fellowship of the IFoA through MRA.

https://www.actuaries.org.uk/news-and-insights/news/changes-individual-examination-exemptions?utm_medium=email&utm_campaign=Changes to examination exemptions&utm_content=Changes to examination exemptions+CID_9f1596e1088e4136f41c7b6478cca3db&utm_source=NWD Email marketing&utm_term=website

 

I suspect that a lot of members get their membership paid by their employers though so there isn't probably a massive desire for the IFoA to be accountable for its spending.

 

You're right, the MRA with IAI needs doing away with too.

 

It does not look like an immediate removal. The transition period arrangements look like in reality the discriminatory policy will continue until 31st December 2021 in effect. As IAI has identical exam system under new curriculum that IFoA will enter into a "new agreement" with them on allowing exemptions from IAI exams from existing members until 31st December 2021. If so they will continue to enjoy 4 vs 2 advantage until 31st December 2021. The discrimination will continue.

 

https://assets.publishing.service.g...nd__Faculty_of_Actuaries_-Remedy_Judgment.pdf

 

p.80 ...The preferential treatment of Indian students has existed throughout the Claimant’s student membership of the Respondent, since 2001...

What a disgrace. This has affected tens of thousands of British actuaries over the last 18 years.

 

Haha wow that is an atrocious exam record. I think they were very generous in their assumption of 5% of passing. As for the £16k "Injury to Feelings" plus however many years of 8% interest due to having to sit the same amount of exams as all of his UK based peers.....wow you can sue for anything these days!

 

Tarbuck doesn't understand the claim...

 

I am intrigued as to where the bank accounts with 8% interest are.

Also given paragraph 74, I am not convinced of the compensation for losing CT6.

 

I mean....the 2 components to the reward were clearly labelled "Injury to Feelings" and loss of future earnings based on 5% chance of success in the document. I have double checked. If you believe otherwise, I think its more that you have not understood what the compensation was awarded for. If you are talking about "the claim" as in what the claimant tried to claim for, if you read through it huge amounts of what was alleged was rejected by the court.

 

This is the way the world ends
Not with a bang but a whimper.

 

3 of 4 claims landed. IFoA acted illegally and have to pay significant damages, albeit nowhere near enough for what they've done but this may only be the beginning rather than the end...

 

Prediction correct. The discrimination continues. Disgraceful.
https://www.actuaries.org.uk/studyi...exemptions-students-institute-actuaries-india

 

Reads to me as if they are in the process of phasing the arrangements out.

I guess the "victims" of this "discrimination" will be re-joicing and shouting from the roof tops when the agreements are removed. Or, perhaps, most UK students had no desire to sit FOUR exam sittings and will not care a jot.

Focussing on hard work, study, a work life balance and just being happy will always give better results than adopting a victim mentality.

 

How much money are they & were they making from these arrangements? If you don't know, go and find out and get back to us.