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Getting strength in numbers and better representation

Discover how the new Actuaries Student Union will enable IFoA students to organise more effectively and obtain representation to address the current significant imbalance in power with the IFoA. The IFoA knows that many students are unhappy, but despite that has been very largely unresponsive and has too often failed to address legitimate concerns.  The union will amplify the voice of students.   

Addressing the IFoA's poor treatment of students 

An example of the IFoA's rather dismissive attitude is that no Student Consultative Forum minutes have been published for years. Even the minutes that were published were apparently significantly edited in favour of the IFoA. Many students are understandably fearful of putting their heads above the parapet. The Union will allow them to voice their concerns either openly or anonymously (while simultaneously verifying that the user is a registered member) and will act as students' voice.

Why getting NewOrg and the Union off the ground matters

NewOrg is the new actuarial organisation for qualified (Fellow and Associate) IFoA members that is being set up.

In recent years the IFoA has become less transparent, more controlling and expensive for the level of service offered.

This is because the IFoA has enjoyed near monopoly power in the UK.  Economic theory and history shows that competition (which NewOrg will provide) should be beneficial for actuaries (including IFoA members) and the public.

Similarly setting up the Union will provide a much needed counterweight to the IFoA's monopoly power.

And the existence of NewOrg will itself put pressure on the IFoA to improve its treatment of students - because the IFoA will be aware that once students qualify they have a choice: they can switch to NewOrg rather than staying with the IFoA.