SCOTLAND is too small to have a separate actuary body and it needs to merge with its English equivalent, the president of the Faculty of Actuaries has claimed.

Stewart Ritchie said the split identity was “confusing” and a merger would aid development of the profession. Rebel actuaries will try to derail plans for the merger between the Scottish faculty and the Institute of Actuaries at a special general meeting (SGM) in Edinburgh next week.

They claim the merger has been “steamrollered” through with no proper explanation of the benefits and would wipe out a 150-year-old Scottish professional body with a Royal Charter.

Under plans which are due to be debated in June, the two bodies would seek approval to officially merge in 2009. The rebels hope to garner enough support this week in the SGM to delay the vote.

Ronnie Sloan, one of the ten rebels who called the SGM, said fellow members with concerns had to act this week otherwise it would be too late.

“I have no beef with Stewart over this but no one is quite sure why things are happening so fast,” he said.

“What is the critical problem facing the profession that can be solved only by merger? No one knows. Wiping out an independent body with a Royal Charter would be a pointless sacrifice.”

The two actuarial bodies have more than 18,000 “fellows” between them.

Ritchie said he was perfectly happy that the issue was going to be debated by “one of the most sophisticated electorates” but a merger made sense.

“Since 1995, many of the functions have been merged. I have spoken to many employers and none of them are concerned about this next step,” he said.

“The two bodies split 150 years ago. It made perfect sense in the 19th century but not for the 21st century. Scotland is too small to have a separate body. We need to reunite which would give us a strong base for development of the actuarial profession in the UK.

“Other professional bodies have come together without a problem and they would be horrified at plans to set up a separate Scottish office.”

Ritchie denied any decision had been made on the name of the new body and a Scottish council to ensure that the Scottish end of a merged profession would develop.

“If the plans go ahead, we would appoint brand experts to advise on the new name,” he said.

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