How To Complete Your IFOA PPD: What To Write, How To Track & Seeking Exemptions
In Part 1 of our IFOA PPD Guide, we explored some key questions about IFOA Personal and Professional Development, including what it is, the minimum requirements, the three areas of PPD, mandatory competencies, and formal learning hours.
By now, you should have a good understanding of the basic structure and key requirements of these guidelines. In Part 2 of our guide, we address one of the most frequently asked questions about IFOA PPD:
What should I actually put in my PPD Record?
From writing a meaningful learning outcome to tracking your activities and understanding when you may be eligible for an exemption, this guide covers the practical side of completing your PPD.
Let’s begin with the basics.
Things To Include In Your PPD Entry (Both for Competency Credits and Formal Learning Hours)
Every PPD entry is split into 2 parts
Activity Description
An overview of the activity undertaken, with a specific mention of the tasks completed under the activity.
The activity described here should not read as too general. Focus on describing the specific activity undertaken under a competency.
Refer to a sample Activity Description below,
Competency 1.6 Contribute to Actuarial Reports for Regulators
I helped draft an actuarial valuation report for regulatory purposes. I researched relevant regulatory guidelines and standards, reviewed the report against them to ensure all requirements were met and confirmed compliance.
(234 characters)
Learning Outcome
A detailed version of your learning and development from the activity described above. Your reflection should focus on what you learned, how you can apply this knowledge to your future work, the challenges you encountered, and what you could do differently going forward.
$\bullet \quad$DO NOT use bullet points while writing the learning outcome.
$\bullet \quad$Your learning outcome should not be too descriptive of what the activity was. This is already covered in the activity description.
$\bullet \quad$Make it self-reflective by primarily focusing on:
- What you learned from the activity
- How you may apply this knowledge in future work.
- What, if anything, you may do differently in future.
- Any feedback you received.
- Any developmental requirements you have identified as a result of conducting the activity.
Refer to a sample Learning Outcome below,
Competency 1.11 Prepare Permanent Documentation for defined work products.
While undertaking a pricing exercise for a new product, I documented the procedure and worked on key stages such as data, assumptions, model programming, and sensitivity checks. This was a new exercise for me. I learnt that it is crucial to plan before starting a new piece of work and that it is important to document the steps as I proceed to ensure nothing is missed. My work was peer-reviewed. The feedback noted that some details in the document were unnecessary, particularly under data verification, where I listed many individual data checks rather than explaining the process and principles followed. Next time, I will ensure that I don’t let excessive detail obscure the key messages. It is also important to tailor the document to the audience. In this case, the audience is a team of actuaries who, given their strong technical skills, will not need to see the detail, so they are less interested in seeing a description of every step undertaken.
(980 characters)
Both Activity Description and Learning Outcome come with a character limit. You are expected to write a maximum of 250 characters under Activity Description and 1024 characters under Learning Outcome.
How to Manage Your PPD Throughout the Year
One of the easiest ways to make PPD stressful is to ignore it for an entire year. Instead, make it a regular habit. Our step-by-step guide below will help you do just that very easily.
Step 1: Keep a simple activity log
Whenever you complete a significant piece of work, make a quick note of:
- Date
- What you did
- Competency demonstrated
- What you learned
- Supervisor or manager involved
It’s okay if you do not write the final PPD entry immediately.
The purpose is to make sure you don’t forget useful experiences later.
Step 2: Track your credits
Keep track of the credits you complete throughout your PPD year.
This helps you identify early if you are falling behind.
Remember: You need to meet the minimum annual requirement, not just the overall number of credits required for qualification.
Step 3: Track your mandatory competencies
Keep a separate checklist for the four mandatory competencies.
You don’t want to reach the end of your qualification journey and discover that you have enough credits but are missing a mandatory competency.
Step 4: Record your formal learning
Keep a separate record of relevant formal learning activities. For current students, the requirement is generally 2 hours of formal learning per PPD year. Recording these activities as you complete them is much easier than trying to remember everything at the end of the year.
Step 5: Review your PPD regularly
A useful approach is to quickly review your PPD every quarter.
Ask yourself:
- Have I completed enough credits?
- Am I developing across different competency areas?
- Have I completed any mandatory competencies?
- Have I recorded my formal learning?
- Do I have enough relevant activities for the rest of the year?
This gives you time to identify gaps while having sufficient time to act on them.
PPD Exemptions: Eligibility and Criteria
Under certain circumstances, you may be exempt from submitting PPD Requirements, provided they are officially approved by IFOA over email. Some circumstances that may be considered for exemption are:
- Unemployment – if you are not working and therefore cannot undertake relevant workplace activities.
- Parental leave – where you are taking time away from work because of parental responsibilities.
- Further education – if you have temporarily stepped away from employment to undertake further studies.
- Career breaks – where you have taken an extended break from employment for personal or professional reasons.
- Other exceptional circumstances – the IFOA may consider individual circumstances where a student is unable to meet the PPD requirements.
If you seek a PPD exemption of more than three consecutive years from the IFOA, you will need to complete the PPD requirements for at least one additional year to qualify.
For example,
You complete the minimum PPD requirements for Associateship.
You then take a career break lasting more than 3 consecutive years, so you are exempt from PPD during that period.
During the career break, you manage to complete all the remaining exams required for Associateship.
Even though you have now completed the exam requirements, your previous PPD is considered too old to be sufficient on its own.
Therefore, when you are ready to apply for the Associate title, you would need to complete and record at least one additional year of PPD after returning to relevant actuarial work.
We hope this guide has provided you with practical insights into effectively completing your IFOA PPD requirements each year.
What to Avoid When Completing Your PPD
Completing your PPD correctly is just as important as understanding the requirements. In Guide 3 of our IFOA PPD series, we’ll cover the common mistakes to avoid when completing your PPD, as well as the important difference between a PPD exemption and missing a deadline.
