In almost every profession, CPD has become a core element of what it means to be professional. This has particular relevance to those working in pensions and retirement provision.
CPD is a key part of your membership of PMI and in using PMI’s CPD scheme, you will contribute to the development of the profession as a whole. Completion and recording of CPD became compulsory for Fellows in 2010 and for Associates in 2011. Although CPD is not compulsory for other members, the scheme and recording system are open to all. Completion of CPD is encouraged where members, for whom the scheme is not compulsory, feel they will benefit from participation.
Recording your CPD demonstrates that you are working to ensure your knowledge and skills are up to date. Standing still is not an option in today’s world. By doing CPD, you act to mitigate risk and enhance your skills and competences, enabling employers, stakeholders and clients to feel confident in your abilities as a professional. Members can update their CPD records by logging in to the members area at the top of this page and selecting "Your PMI."
The CPD year runs from 1 January to 31 December each year.
The key points to be aware of are as follows:
- CPD is compulsory for Fellows and Associate Members of PMI
- The scheme requires a minimum of 25 hours relevant CPD to be completed each year
- At least 50 % of the recorded content must be focused on pensions and retirement savings subjects. However, in recognition of the wide range of appointments that members undertake, particularly more senior members, the remaining 50% of CPD can cover the wider aspects of business such as IT, management, financial, business ethics and legal matters.
- A basic principle of the scheme is that CPD should be additional to paid employment. However, we are aware that many members are in positions such as training and consultancy where research is required in advance of customer meetings. In conversations with members we have taken the position that the time spent on this research can be counted as part of CPD, on the principle that this meets the CPD requirement to keep up to date, but the customer facing time cannot be counted since this is part of paid employment.
Recording your CPD
Please see below for the options available for recording CPD.
- Online CPD Recording - There is a new online CPD recording tool available. To use this tool, please log into the online services section of the PMI's website in the top right hand corner of this screen. User instructions can be accessed here.
- Self- Declaration Form - If you record CPD with another professional body and the CPD scheme requires a standard and volume of CPD activity at least equivalent to the PMI’s scheme, you may submit a Self-Declaration form in place of recording your CPD with the PMI. A Self-Declaration form for 2013 can be downloaded here and for 2014 here. This form should be completed and returned to the PMI by 31 December.
- Paper Recording - The PMI will currently accept CPD recorded using a paper recording sheet however we reserve the right to withdraw this method in future. A paper recording sheet for 2013 can be downloaded here and for 2014 from here.
PMI AAP and CPD
Those who are both members of the PMI AAP and Fellows or Associates of the PMI, and who meet the CPD requirements under the PMI AAP, will be deemed to have met the requirements for the PMI CPD scheme.
Online Learning Gateway
PMI members have free access to Standard Life Investments’ educational portal which offers a wide-range of educational resources designed to support professional development and training needs. Much of the content will be relevant for CPD purposes.
Click here to access the portal.
PMI TV is an online TV channel offering a selection of topical, relevant and informative programmes to pensions professionals and trustees. Developed in association with Asset TV, it provides a broad range of presentations, comment, interviews, and web-casts from key figureheads within the pensions industry. Much of the content will be relevant for CPD purposes and content that is relevant for RDR purposes is identified as such.
Members can have their viewing times recorded automatically by PMI TV but for this to be achieved, members will need to have an active internet connection to Asset TV for the whole transmission.
Click here to access PMI TV.
Members needing any further assistance on CPD should contact the membership department firstname.lastname@example.org.