The concept of inviting prominent pension professionals under preferential terms, without having the usual PMI qualifications, was first awarded in 1976, the founding year of the PMI, as follows:
- 1521 applicants were considered suitable candidates for Associateship
- 144 of these original Associates were invited to become Fellows.
Individuals granted Member by Experience status (EPMI) status will be able to bring a wealth of valuable experience to the PMI which we are keen to utilise. The PMI Board has approved the recognition and granting of the status EPMI to persons who have:
- made significant contributions within the pensions industry, or other pursuits allied with, and beneficial to, the pension profession
- achieved a vast wealth of knowledge, expertise and experience, accumulated over the years, in any aspect of pension scheme management, consultancy, law, and administration.
The status of EPMI may be suitable for individuals primarily with strategic/executive roles in defining pensions policy within their area but this is not a compulsory prerequisite.
The EPMI route will consider and assess the knowledge, skills and work experience that applicants have accumulated, including any previous qualifications that support their application.
Examples that may evidence this include:
- Regular delivery of event speaking slots
- Regular contributor to thought leadership articles that are recognized as insight
- Internal activities (subject matter experts (SMEs), examiner/ marker within their area)
- Any relevant experience with other organisations/broader accountability e.g. CEO of smaller associations
- A credible professional history with exposure and/or responsibility for pensions policy/pensions operations etc.
In addition, applicants should be able to evidence at least 10 years of overall experience of regular or continuous influence and contributions to the pensions sector, with 3-5 years at a senior level.
Other roles obtained may consist of, but are not limited to, pensions lawyer/consultant/manager.
EPMI members will gain access to a wide variety of highly sought after member benefits including use of distinguishing post nominals EPMI, eligibility to be co-opted onto the PMI’s governing structures, member rates at PMI events, and much more.
We are now calling on our members to consider whether you have any colleagues or contacts within your professional network, or colleagues who have not followed the traditional PMI qualifications route, but you feel fits the profile outlined above.
We are very excited by the launch of this new membership type and the wealth of knowledge and expertise this will bring to the PMI. This, in turn, will support us in providing even more valuable member resources and fit-for-purpose products and resources to better service the pensions industry.
If you have any questions or concerns around the launch of this new membership grade, or you wish to nominate someone to be granted EPMI status, please contact us with details of your nomination at email@example.com
This article was featured in Pensions Aspects magazine June 2021 edition.
Last update: 3 June 2021