I have just received my renewal subscription notice.  I noticed that CEng fees to the Engineering Council are £45.91 and that those for an IEng are £38.96 pa.  

I thought that the whole idea of IEng was that it was to give recognition to IEng that they were of an equivalent rank as CEng, but worked in a different sphere to CEng - equal but different.  The Engineering Council's discount rate of £7 pa seems to indicate that an IEng is ~85% the worth of the CEng.  

Any thoughts?