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Is it advisable to pursue the Fellow of the Society of Pension Actuaries designation?

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  • Is it advisable to pursue the Fellow of the Society of Pension Actuaries designation?

    I am currently considering the Fellow of the Society of Pension Actuaries designation. I'm currently employed in a Defined Benefit services and I have passed two SOA exams plus a VEE and the CERA Operational Risk Module.

    I was thinking of pursueing the CERA credential, but after numerous unsucessful attempts at securing a job in Risk Management area (despite the fact that I have an MBA plus three actuarial exams), I'm now weighing the option of pursuing the Fellow of the Society of Pension Actuaries designation. I have been looking online to see if this designation is desirable in the actuarial market place, but I'm yet to come accross any actuarial job opening (even for pension actuaries) that specify the FSPA credential as desirable.

    Will it not amount to a waste of my precious time/years if I continue on the path towards this designation?

    Suggestions are urgently needed.

    Thanks
    Last edited by Biodun; February 3 2009, 09:55 PM.

  • #2
    Hi Biodun,

    Have you considered EA credential? Or you could move toward an FSA which has a Retirement Benefits track. There may even be cases you could get experience toward a CFA credential which isn't actuarial, but it's nice. Any of these are valued credentials. Are your colleagues pursuing any of these? Anyway, those are some ideas.

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    • #3
      Thanks for your advice. Yes, I am pursuing the EA credential. I have credit for one of the EA exams and I'm hoping to complete the other two by November. Since the EA credential will qualify me for the MSPA credential (Member, Society of Pension Actuaries) from where I will only need to pass two to three more exams to get the FSPA designation, but I wasn't sure how desirable is the FSPA designation in the actuarial circle.

      Maybe what I need to do from your advice is to complete the EA exams and then start the CFA program which goes closely well with my MBA. I have noticed from my job search that most actaurial employers do not relish the idea of me obtaining an MBA degree. Perhaps, it appears to them that I might not be committed to actuarial exams, I don't know!

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