We are told that chartered accountants and engineers are regarded as specially competent but those professions have different professional bodies; the UK actuarial profession is currently a monopoly so the same criterion doesn’t read across.

For accountants, there are different professional bodies, only one of which can confer chartered status, which is automatically conferred upon associates.

Further, the use of “chartered” even varies within the engineering professional bodies. Although I’m still waiting for details about Civil, Structural and the Mechanical regard Fellowship as higher than chartered, whereas Engineering & Technology are the other way around, in that to obtain chartered status, one needs to earn it, more than for Fellowship. The arbitrators have the same approach as for Engineering & Technology..

As currently proposed, actuaries (Associates and Fellows) would have “chartered” status automatically conferred; this will be confusing.