Terms for IFoA Fellows joining IAI via MRA

Discussion in 'Careers' started by almost_there, Mar 8, 2019.

  1. almost_there

    almost_there Member

    http://www.actuariesindia.org/subMenu.aspx?id=25&val=Types_of_Membership



    Why did IFoA agree to such a thing? Or if they didn't and the IAI are imposing something not agreed, then why aren't IFoA doing something about it?
     
  2. almost_there

    almost_there Member

    I ask (a) what's so special about IAI that they require IFoA Fellows to have 10 years post-qualification experience in General/Health, (b) why would IFoA agree to such a thing (c) why IFoA are refusing to comment on this matter (d) why this requirement is not in the IFoA/IAI MRA agreement (e) why technically speaking there is no IFoA/IAI agreement showed on either IFoA or IAI websites but rather agreements between Institute and ASI and Faculty and ASI.

    In my view the IFoA should equalise the terms or cancel all its arrangement with IAI. Of course if IFoA were to cancel its arrangements with IAI then the thousands of IAI members who are also IFoA members would probably leave IFoA and stay with IAI. This would cost IFoA a lot of money.
     
    Last edited by a moderator: Apr 7, 2019
  3. dmck

    dmck Member

    Have you tried contacting the IFoA about this? Are you considering a transfer from the IFoA to IAI? I don't envisage there being many IFoA Fellows who would look to transfer to IAI.

    I guess the IFoA has to focus on the areas where they see members getting most value from the membership. Modernising the exam structure, research quality etc are likely to be more of a concern for members than a rather obscure point about transferring from IFoA to IAI.

    I hope your transfer to IAI goes smoothly if this is what you are looking to do - best wishes with the move.
     
  4. almost_there

    almost_there Member

    Dmck I'm afraid your argument is circular since the unfairness/inbalance of the terms cannot be justified by a lack of IFoA Fellows pursuing that route. It's a bit like saying you have to ride on a bus around the side of a mountain with no safety barriers to stop the bus from falling over the edge to get from A to B then trying to justify failing to build safety barriers because not many people use the route.
     
  5. dmck

    dmck Member

    So you're point is that you feel it's unfair the IAI have a work requirement to be a fellow. I guess what I was trying to understand is why you are so concerned. If it's affecting you directly because you are wanting to transfer then I could understand your frustration. Have you contacted the IFoA to discuss?

    If you are just highlighting an apparent lack of fairness in the mutual recognition then perhaps you should contact the IAI to find out why that's the case. As I mentioned before, I don't think that it would be a common transfer. Perhaps if it was then more people would have raised concerns and the IFoA/IAI would have responded.

    I don't think my argument is circular at all. I was merely highlighting my belief that this seems a rather obscure point in the grand scheme of the actuarial profession. In your analogy, I think qualifying as an IFoA Fellow and then transferring to IAI would be akin to taking a very rarely used route (rather than an A to B route) where other "safer" (more conventional route of staying as an IFoA Fellow are open to the traveller) exist.
     
  6. almost_there

    almost_there Member

    The IFoA don't demand 10-year post qualification experience in general/health for IAI Fellows to join IFoA as Fellows. Therefore it is not equitable. It's reasonable to ask why IFoA would agree to such an arrangement and if they don't then they should withdraw from it.
     
  7. almost_there

    almost_there Member

    It is for IFoA to explain and investigate why their own members are treated in this manner by IAI, given that IFoA are deeply involved with the IAI with the numerous arrangements and agreements that they have.
     
  8. almost_there

    almost_there Member

    I don't understand why IFoA can't get in touch with IAI to see what's going on, if IAI are applying terms that inhibit British IFoA Fellows from joining them.
     
  9. almost_there

    almost_there Member

    Doesn't this thread now have a whole other dimension given the recent Judgment against IFoA? British Fellows can't really join IAI even as Fellows. The MRA appears to be a sham, a one way street.
     

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