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Qualifications

The PMI is the UK’s leading professional body for those working in the field of employee benefits and retirement savings.  It supports and develops the experts who are responsible for running the UK’s pensions industry and is acknowledged as the body for establishing, maintaining and improving professional standards in every area of pension scheme management, consultancy and trusteeship.

The PMI is renowned for providing qualifications that demonstrate the knowledge and expertise of those taking them.  However, pensions is ever evolving with new demands made on those involved whether they are new to pensions, pensions managers, consultants, administrators, trustees, HR professionals, or accountants.

PMI Level 2 Award in Pensions Essentials (APE)

The APE is a qualification designed to support and acknowledge the training and development of new pensions administrators or those who need an introduction to pensions, HR or Payroll for example.

It is essentially a knowledge based qualification although there are some basic calculations of benefits in some units.

It will provide learners with the background to pensions to either start them in their pension administration career or, if working on the periphery of occupational pensions, it will provide a good grounding to support them in their role.

Delivery and assessment of the qualification is carried out in-house (approved centre) on a 'when needed' basis.

PMI Level 3 Certificate in Pensions Essentials (CPE)

The CPE is a qualification designed to support and acknowledge the training and development of pensions administrators and it is essentially a knowledge based qualification although there are some calculations of benefits in some units.

The CPE is a natural progression for the learner from the Award in Pensions Essentials as it extends the area and depth of knowledge and understanding within occupational pensions.

Delivery and assessment of the qualification is carried out in-house (approved centre) on a 'when needed' basis.

PMI Level 4 Certificate in Pension Calculations (CPC)

The CPC is a qualification designed to demonstrate candidates’ competence in the manual calculation of benefits of occupational pension schemes and is assessed by case study examinations.

The case studies are based on three fictitious pension schemes - two final salary schemes, one of which is contracted out and a money purchase scheme with the option to contract out.

Candidates have to be able to carry out manual calculations for all three schemes.  They also have to write to at least one member or client explaining the benefits payable and asking for any further information required before the scheme can pay the benefits.

PMI Level 3 Certificate in Pensions Administration (CPA)

The CPA is a qualification for pensions administrators and is designed to offer candidates the opportunity to demonstrate their knowledge and competence in specific areas of pensions administration.

CPA is offered through approved centres.  These are all employers who offer the qualification to their own staff.  There is flexibility of choice of units to be taken allowing employers to tailor a qualification to suit their needs.  There is a mixture of work-based and examination assessment methods and there is a possibility of selecting a customer service unit in the final qualification structure.

PMI Level 4 Diploma in Pensions Administration (DPA)

The DPA is suitable for more experienced pension scheme administrators working of either DB or DC pension schemes – or both.  The qualification is designed to allow organisations and their pensions administrators to select and construct a competence based qualification that reflects their normal working activities.

There is a mixture of work-based and examination assessment methods and there is a possibility of selecting a customer service unit in the final qualification structure.

Retirement Provision Certificate (RPC)

RPC is a qualification that is ideal for employees new to pensions, support staff and those professionals working in related fields.  It provides a broad introduction to pensions and other related benefits in the UK.

The RPC has been designed to meet the needs of a wide range of people, not just pension professionals.  It is assessed via a 2 hour examination in the form of 120 multiple-choice questions.

Certificate in DC Governance (DC Gov)

This qualification is designed for those running, advising on or governing workplace pension schemes including:

  • Members of Governance Committees
  • Trustees and Scheme Secretaries
  • Associates or Fellows of the PMI who qualified when the examinations were focused on the requirements for Defined Benefit Schemes
  • Individuals working in allied professions such as legal, investment and actuarial
  • Consultants advising on pure DC schemes (Trust & Contract) and those whose Defined Benefit schemes include for example AVC arrangements
  • Independent Financial Advisers
  • Administrators (including providers and Master Trusts) of pure DC schemes (Trust & Contract) and those whose Defined Benefit schemes include for example AVC arrangements
  • Those who have completed the PMI’s Certificate in Pensions Automatic Enrolment, Retirement Provision Certificate or Certificate in Pensions Essentials.

Assessment is in the form of a 90 minute examination made up of 90 multiple choice questions.

Certificate in Pensions Automatic Enrolment (CPAE)

This qualification is designed to meet the needs of those who are advising on and/or implementing the requirements of automatic enrolment.  It provides an overview of employer requirements and obligations associated with automatic enrolment and an understanding of its practical application and effective implementation.

Assessment is in the form of a one hour examination made up of 60 multiple choice questions.

Certificate in Pension Scheme Member Guidance (CPSMG)

This qualification is designed to meet the needs of pensions staff who regularly liaise with members selecting options from a pension scheme.  It is concerned with improving member outcomes and providing guidance on benefit options.  As this guidance is in the area of non regulated advice the qualification  provides an overview of the distinction between regulated and non regulated advice, the different types of pension scheme and the factors that need to be considered in making decisions in regard to benefits.  It covers various options and situations, including: joining, leaving, transferring, retirements, commutation, death, and divorce.

This qualification has been developed in partnership with JLT Employee Benefits.  PMI is grateful for the support received throughout the development process and continued support for the delivery of the qualification. 

Diploma in Retirement Provision (DRP)

This qualification rewards and acknowledges the completion of core pension technical units that form part of the Advanced Diploma in Retirement Provision.

The units for the qualification are Core Unit 1A - Understanding Retirement Provision (UK), Core Unit 2 - Regulation of Retirement Provision, Core Unit 3 - Running a Workplace Pension Scheme, Core Unit 4 - Financing and Investing for Retirement Provision and either Defined Benefit Arrangements or Defined Contribution Arrangements.

This can be taken as a standalone qualification or as part of the Advanced Diploma

Diploma in Employee Benefits and Retirement Savings (DEBRS) 

DEBRS is ideal for those working at the margins of pensions who need to understand pensions in the wider savings and employee benefits context.

The aim of this Diploma is to provide holders with a comprehensive background to employee benefits and savings in the UK.  It demonstrates that the holder has an in depth understanding of issues surrounding retirement provision.  This will equip them for work in pensions and allied areas and can lead to further study in these areas or toward completion of the Advanced Diploma.

Diploma in International Employee Benefits (DipIEB)

The DipIEB provides a programme of education, study and examinations for all those involved with the complex area of international employee benefits.

Individuals from many backgrounds will find this qualification meets their professional needs.  These individuals may work for consultancies (including actuaries, lawyers, accountants and tax specialists) or insurance companies or in the pensions or remuneration and benefits departments of commercial companies.  They may have international experience already or find that their careers are beginning to move in that direction.

PMI Level 6 Diploma in Regulated Retirement Advice (DRRA)

This qualification is designed to meet the FCA’s appropriate examination standards for Retail Distribution Review (RDR) purposes.  As such it provides an overview of pensions and retirement planning in the retail and individual context.  It covers financial services advice, regulation, taxation, financial protection and investment.  It comprises two units: Taxation, Retail Investment and Pensions; and Retail Advice and Regulation.  These units also form an integral part of PMI’s Advanced Diploma in Retirement Provision.  DRRA is an appropriate qualification for those working as advisers for FCA purposes in the activity area “advising on Packaged Products (which are not broker funds) and Friendly Society tax-exempt policies.” 

Advanced Diploma in Retirement Provision (ADRP)

The Advanced Diploma is a comprehensive and in depth qualification for retirement benefit professionals.   The overall aim of the Advanced Diploma examinations is to provide the required professional knowledge, skills and understanding for an individual to undertake, after sufficient experience, a position as a pensions specialist within a self administered scheme, a third party administrator, a life assurance company, or the consulting and advisory services.

The Advanced Diploma fulfills the examination requirement for Associate Membership of the PMI (APMI).

PMI Level 3 Award in Pension Trusteeship (Defined Contribution and Defined Benefit Schemes) (APT)

The APT qualification is for trustees, or those interested in trusteeship, based on the Pensions Regulator’s indicative syllabus. It provides formal recognition of a trustee’s knowledge and understanding (TKU) in line with the requirements of the Pensions Act 2004.

The Defined Contribution (DC) and Defined Benefit (DB) APT examination is examined by a one and a half hour multiple choice examination made up of 90 questions.

Want to contribute to PMI qualifications?

The PMI relies on the contribution of individuals working in the industry. Without the involvement of these people it would be very difficult for our qualifications to be what they are.

If you would like to get involved visit Support for the Institute's Qualification Activities

If you know what you would like to get involved with visit Register Your Interest

Further Details

Not found anything to suit your organisation's requirements? Then please contact the Qualifications Team at qualifications@pensions-pmi.org.uk or on 0207 392 7400 to discuss how the PMI can work with you to meet your training and development needs.

Documents

  1. Advanced Diploma Consultation Response 2015

    Advanced Diploma Consultation Response 2015. Including full details of the Advanced Diploma for examination from April 2016.