The Education Policy 2026 introduces updates to the actuarial education framework of the Institute of Actuaries of India (IAI) to ensure that the curriculum remains globally aligned, industry-relevant, and future-ready. It includes updates to the examination structure, introduction of new subjects, transition arrangements, and new Certification Programs.

The Core Education Program (CEP) is the primary examination pathway that leads to the Associate (AIAI) and Fellow (FIAI) qualifications of the Institute of Actuaries of India.

To qualify as an Associate, a candidate must pass or obtain exemptions in 10 subjects:

• 7 Core Principles subjects
• 3 Core Practices subjects

• Pass all 10 Core Principles and Core Practices subjects
• Pass 3 additional subjects:
  • At least 2 Specialist Principles (SP) subjects
  • At least 1 Specialist Advanced (SA) subject
• Successfully complete the India Fellowship Seminar in accordance with the requirements prescribed by the Institute
• Complete 3 years of relevant actuarial work experience

Certification Programs are additional programs designed to enhance and diversify the skillsets of actuarial students and qualified actuaries, particularly in emerging and evolving areas of actuarial practice.

• Enhance practical and emerging skills
• Improve employability of actuarial students
• Strengthen expertise in both traditional and non-traditional areas of actuarial practice

Yes. A new subject titled CS3 – Data Science: Tools, Techniques & Applications will be introduced under the Core Principles level from the May 2027 examination diet.

Yes. The current subjects CB3 – Business Management and CP3 – Communications Practice will be merged into a single subject titled ‘CP3 – Strategic Management and Communication’. This merged subject will be introduced from the November 2027 examination diet.

The merged CP3 examination will be a single written paper of 3 hours and 15 minutes, designed to test both:

• Strategic Management understanding
• Communication of actuarial concepts to non-technical audiences

 

Students who have already passed either CB3 or CP3 will be given three additional examination diets to pass the remaining subject and obtain recognition under the merged structure.

All passes or exemptions obtained up to 31^st December 2028 will be recognised under the transition arrangements.

If a student holds a pass in only one of the subjects after the transition window, they will need to appear for the new merged CP3 paper in full.

Yes. The Institute may introduce additional subjects in emerging areas such as Banking, ESG, Climate Risk, and other evolving domains relevant to actuarial practice. These are tentatively expected around the November 2028 examination diet, subject to industry relevance, academic readiness, and resource availability.

Students who complete the Associateship requirements under the previous structure on or before 31^st July 2028 will not be required to pass CS3. Students who do not complete the requirements within this transition period will be required to pass CS3 under the revised curriculum structure.

Students entering the system from the May 2027 examination diet onwards will follow the revised curriculum structure, including CS3 – Data Science: Tools, Techniques & Applications.