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PMI and Apprenticeships

This page describes the new trailblazer apprenticeships which are replacing the outgoing apprenticeship frameworks.  It is expected that the old apprenticeship frameworks will be phased out by 2017/18 and replaced by trailblazer apprenticeships.

What is an apprenticeship?

Apprenticeships are usually short-term contracts, although they may be permanent contracts, typically offered to young people through the National Apprenticeship Service, which include on the job training - a competence element - and completion of a recognised technical or professional qualification.  There are many different types of apprenticeships - called standards (previously frameworks) - in a variety of sectors including financial services.

Trailblazer Apprenticeships

Trailblazer apprenticeships have sought to build on the existing apprenticeship concept and put employers at the forefront of the design of the standards to ensure they are as relevant as possible.  Unlike apprenticeship frameworks, trailblazer apprenticeships are available to candidates of any age.

Workplace Pensions Apprenticeships

PMI has worked in collaboration with a number of employers and other relevant professional bodies to create two new apprenticeships:

Entry Level 3 Workplace Pensions Apprenticeship
An entry level appreticeship standard for workplace pensions consultants or administrators.  The full details of the standard can be found here.  This page also contains a link to the assessment plan for the standard which provides further detail on how the standard will be assessed.  The standard and assessment plan can also be found from document links at the bottom of this page.

Higher Level 6 Financial Services Professional Apprenticeship (TBC March 2017)
This is an apprenticeship that includes a broad range of occupations within financial services and workplace pensions is one of 6 options.  It is due to be signed off in March 2017 and further details will be available from then.

What PMI qualifications are included as part of these apprenticeships?

The workplace pensions apprenticeship standards include the following PMI qualifications (or parts thereof):

Full details can be found in the standards and assessment plans from the above links.

PMI and End-point Assessment

As well as being the awarding organisation for a number of qualifications within the Apprenticeship, PMI has also been approved as the End-point Assessment organisation for the workplace pensions apprenticeship. An apprentice will need to pass the End-point Assessment in order to complete the Apprenticeship.  Further details can be found here.

What are the benefits of apprenticeships?

There are a variety of benefits for the different parties involved:

For the apprentice

  • the opportunity to obtain work based training – to 'earn and learn'
  • gaining a professional qualification and membership of a professional body
  • improving chances of finding a permanent position and a rewarding career 

For employers 

  • subsidised training costs
  • filling skills gaps
  • assistance with recruitment
  • staff motivation 

What funding is available?

One of the many benefits of apprenticeships is that employers are able to access funding to cover some of the costs of delivering apprenticeships. Further details can be found here.

Training Providers can help to outline the options available (see below).

How long is the apprenticeship?

It is expected that the workplace pensions apprenticeship could be completed in 18-24 months.  The financial services proifessional apprenticeship could be completed in 36-42 months.

Further information

Further information can also be found on the National Apprenticeship Service website

And at PMI contact Neil Scott at nscott@pensions-pmi.org.uk or on 020 7392 7402.

Documents

  1. Trailblazer Apprenticeship Employer Event November 2016

    Further details on the Workplace Pensions Trailblazer Apprenticeship Event 30 November 2016

  2. PMI Workplace Pensions Apprenticeship Standard

    Workplace Pensions Trailblazer Apprenticeship Standard

  3. PMI Workplace Pensions Apprenticeship Assessment Plan

    Workplace Pensions Trailblazer Apprenticeship Assessment Plan