Policy statement
The Chartered Governance Institute is committed to supporting its members who are retired. Continuing your CGIUKI membership as a retired member acknowledges your expertise and commitment to the governance profession and the Institute. This policy sets out the eligibility criteria, the requirements and the application process for members who wish to apply for the retired rate concession.
1. Eligibility criteria
Members may apply for the Retired Rate of membership if they meet the following criteria:
- You will be 66 years of age (UK State Pension Age); consideration will be given to members in jurisdictions where the state retirement age is lower than 66
- You are no longer conducting remunerated business in a professional capacity, either full or part-time
- You are not acting in a professional capacity in a voluntary role - see exceptions below.
2. Exceptions
We understand, that beyond retirement, some members do continue, or intend to continue, to work in a professional capacity and seek (or are specifically appointed to) positions as a direct result of:
- their professional standing (i.e. their chartered status),
- the professional qualifications they hold,
- their experience as a company secretary or governance professional or
- their specific area of governance expertise.
We also acknowledge that some retired members will already have or will intend to build a portfolio of non-executive roles and/or trustee positions, albeit non-remunerated.
The Institute’s view is where there is a reliance on the member’s professional knowledge and standing, to either achieve or hold the appointment, this is no different if it is undertaken in a voluntary capacity as opposed to paid employment. Members in such a position will be expected to offer their professional knowledge and experience and to keep up to date with developments and good practice in governance. They should maintain their membership at the full rate and continue to undertake the mandated 20 hours of CPD per annum.
It is not our intention to prevent members from giving something back to their local community or to support a charity or cause which is close to their heart; but members are asked to consider how they are using their governance skills beyond retirement and whether, dependent upon the nature and responsibility of the activity, full membership would be more appropriate.
If you are unsure whether or not you are eligible for the retired rate concession please contact the team to discuss and we will be happy to help.
3. Requirements
Members are required to continue to abide by the Institute’s Byelaws and Code of Professional Ethics and Conduct.
Members will need to submit a formal application to be considered for the retired rate of membership. You will also be required to complete an annual declaration (when you renew) confirming that your retired status has not changed within the last 12 months.
4. Continuing Professional Development
All members on the retired rate will be given a full exemption from the mandated CPD requirement.
5. Benefits of membership
As a retired member you will retain access to all benefits of membership.
6. Membership status
As a retired member your membership status, rights and obligations are not affected. You can continue to use your post nominal letters and if you are an Associate or Fellow, you can retain your chartered designations too – Chartered Secretary and/or Chartered Governance Professional.
Chartered and affiliated members can continue to take part and support the AGM and vote in Council elections.
7. Retired concessionary rate
The retired rate for members in the United Kingdom and overseas will be a reduced annual membership fee as determined by the Institute on an annual basis, in line with the annual review of the membership fees. Once your eligibility has been confirmed you will be moved onto the retired rate from your next renewal.
The Chartered Secretaries’ Charitable Trust can consider a request to make payment of your membership subscription if you are suffering from hardship. Each successful application will be reviewed annually by the Trust. The Trust determines what evidence you need to supply with your application for support.
8. How to apply
If you are currently on the full rate and wish to move to the retired rate, please complete the online application form . Your request will be considered by the membership team. Following review we will confirm your eligibility to move onto the retired rate or we will contact you if further clarification is required. If you are already on the retired concession you need take no further action.
9. Commencement date
This policy is effective from 1 June 2021 and will be reviewed annually thereafter.
Last reviewed 28 May 2021
