For any qualified actuary (Fellow or Associate of several organisations) who feels that their current professional body no longer offers value for money or proportionate regulation, there is now an alternative:
The International Qualified Actuaries Group, see https://inqa.group
I have set this up primarily to meet the needs of the 90% of IFoA members who are not in a reserved role (one which by law or regulation requires the actuary to be a Fellow of the IFoA), but, since the annual dues for several other bodies also seem very high (see here), it is also an alternative available to other qualified actuaries.
At the moment, membership is open to Fellows and Associates who are current or former qualified actuaries from the following bodies:
- Actuarial Society of South Africa
- Actuaries Institute of Australia
- Canadian Institute of Actuaries
- Casualty Actuarial Society
- Institute and Faculty of Actuaries (or its precursors: Institute of Actuaries, Faculty of Actuaries)
- Institute of Actuaries of India
- Israel Association of Actuaries
- Society of Actuaries
- Society of Actuaries in Ireland.
As mentioned above, things have been set up primarily with IFoA members in mind. Comments from actuaries from other bodies as to whether things should be tweaked to suit their requirements will be most welcome!