I'm probably just being stupid, but could somebody clarify what the PM is actually needed for, please? In The Actuary for April 2005 it says that the PM is not required for fellowship, but we are "strongly encouraged" to take it and it "will be required for those wanting to be working actuaries in the UK". Whereas the Profession's website says that you only need it to practise in a "reserved role" (AFH, WPA etc). Which is correct? Presumably the Profession's website?
If you have responsibility as signing actuary, eg are a pension scheme actuary, AFH or With Profits actuary you do need the Practise Module to get your Practising Certificate and I believe this needs periodic reassessment, ie there are the strongest ongoing CPD requirements. I think people are encouraged to take it close to qualifying so the subject matter is fresh. But there again we are expected to keep up to date with developments so its swings and roundabouts. It does not prevent you using the initials FIA or new equivalent if everything else is in order.
OK thanks for that I intend to do the PM anyway, but good to know that I can still call myself and work as an "actuary" even if it goes badly.
