Why are we changing the subscriptions pricing model?
During 2023 work was undertaken, as promised to members, to review the subscriptions fees structure with a focus on fairness and consistency.
This work aimed to rectify the issue of some members across the globe paying starkly different rates depending on their location and membership grade, due in part to fluctuating foreign exchange rates.
The new framework, setting out the high-level process for approving subscriptions, was voted through by members in the 2023 AGM. This informed the approach for determining the 2025 subscription fees rates recommended by RICS Board and approved by Governing Council.
Why are some members experiencing an increase in subscriptions fees and others are seeing a reduction?
2025 subscriptions have been set against the new framework, which is designed to reflect the package of benefits available to members based on their location and grade, when fully implemented over the next five years to 2029. Affordability within specific markets has also been considered.
While some membership grades and global regions will see fees go up or down as a result of the framework being implemented, it will deliver more consistency and ensures all fees are aligned to UK GBP, in order to avoid long term foreign exchange drift and future significant fluctuations in fees.
In some countries, currency volatility throughout the last 12 months has meant that subscription fees will be higher or lower than the baseline set. RICS has absorbed as much of this financial burden as reasonable but cannot entirely mitigate its impact.
Why are fees being set against UK GBP?
Setting all fees against UK GBP will help avoid future inconsistencies through foreign exchange movements. It helps guard against the resulting unfair and sometimes significant fee fluctuations in many international markets.
What’s been the process for deciding the new subscriptions framework and pricing matrix?
The subscriptions framework and resulting pricing matrices are the product of over 18 months’ worth of work in collaboration with members, following the principles voted on by members in 2023. This included considering affordability in markets using insight direct from the World Regional Boards, the Global Membership Committee, members working in-market and trusted global indexes.
What input have members had into the new subscriptions framework?
Over the last 18 months a project has been underway to review the subscriptions framework, looking at the value offered across each of our markets and member grades, with a consideration for affordability.
Members sitting on the five World Regional Boards, the Global Membership Committee and Governing Council have all inputted into this project. This helped to verify and add to the analysis from member surveys and data collected over the last five years.
How have member grades and regional value propositions been determined?
Our research and insights team have considered outputs from member surveys and data collected over the last five years through initiatives such as Survey of the Profession. This, along with feedback and data collected by our markets teams, along with a comparison against the UK MRICS rate, has informed the value propositions across both member grades and markets.
Why have the fees for AssocRICS members increased?
This increase from 55% to 75% over the next five years reflects the benefits of RICS membership for AssocRICS members, overlaid with that of MRICS members.
As AssocRICS is a designation in its own right, benefitting from a wide range of membership services and support including regulation, standards provision, CPD and thought leadership, the increase to 75% of the full MRICS rate is intended to be a fair reflection of this. This will be transitioned over 5 years and the value offered to these members will be carefully monitored to ensure it reflects the accompanying fees charged.
How are my member subscription fees spent?
Please see page 10 of the 2023 RICS Report and Financial Statements which reflects the latest breakdown for this.
Is the concessions framework changing for 2025?
Following a consultation, the Governing Council has agreed the concessions framework for 2025. Those working part time will now be captured as a sub-section of the following concessions:
| Category | Unable to work | Working part time |
| Family raising | 90% | 50% |
| Caring responsibilities | 90% | 50% |
| Retirement | 90% | 50% |
| Ill health, incapacity or disability | 90% | 50% |
Additionally, the definition of the non-practising concession has been tightened to reflect that it has been designed to support members wishing to retain their RICS professional status whilst having moved to careers outside of the profession.
The Unemployment concession rate will progress as planned allowing for a 50% discount on membership fees. While the Dual Membership, Parental or Adoption Leave, Academic and other concessions will remain unchanged from 2024.
More details on the changes to the concessions framework for 2025 can be found here.
Are RICS subscription fees tax deductible?
In the UK RICS subscription fees are tax deductible, so any employed member who pays for their own fees can claim this. Contact HMRC to obtain a tax deduction.
Please check the tax laws in your local market if you are not based in the UK.
How is the subscriptions framework being implemented?
In order to lessen the immediate impact of any changes to fees we will be transitioning to the new subs framework over a five year period. For markets facing the most difficult economic circumstances, this transition will be accelerated.
Why are other countries in my region under the same currency seeing different price increases?
The new subscriptions framework has been applied to each country based upon their 2024 fee levels, and these can be significantly different by market. The percentage change in subscription fees can therefore be equally different and is not solely determined by the currency being used.
