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Enhancing the status of PMI Fellows

The PMI Council has looked at how we can enhance the role and status of our Fellows, both to define this grade more clearly within the PMI membership and to consider the objectives of growing the PMI’s influence externally with key stakeholders in the pension industry. The challenge is to find ways to harness the intellectual property of Fellows and the most productive ways of using this for the benefit of the wider pensions industry.

The idea of Fellows being 'leaders within the pension environment' has been a core part of the PMI philosophy ever since we were founded in 1976. Fellows should be continually challenged to get involved, to discover new ways of thinking about the industry and create lasting impact for the PMI - we want Fellowship to be a life changing experience for our members. The PMI Fellowship Network in return offers them added status to their professional standing - opportunities to enhance/expand their professional contacts, discuss outstanding achievements in their fields and discover new ways of thinking and collaboration.

The view initially expressed at Council is that Fellows are a relatively under-utilised internal resource as a source of ideas and information that could generate ideas for possible new qualifications, membership growth and events for the PMI. They are also a collection of talented individuals who could benefit in their day-to-day roles by sharing these ideas more widely. Too much of what we issue to members and the wider industry is reactive, for example the excellent work undertaken by the PMI’s External Affairs Committee on consultation documents issued by the likes of the Department for Work and Pensions, HM Treasury, the Pensions Regulator, and Pension Protection Fund is largely to refine the original document put forward by those bodies. If we are able to harness the individual and collective thinking of Fellows, we could take the lead in pushing out a rather more pro-active view coming from our members, whilst avoiding direct lobbying.

In addition, other than Fellows being eligible to put themselves forward for election to Council, there is very little difference between the services offered to Associates and Fellows. Therefore Council feel that it would benefit the PMI and its Fellows if we can use the Fellows’ expertise to raise both the internal and external perception of the PMI. This could then allow for an enhanced and exclusive range of products and services that might lead more Associates to apply for Fellowship and current Fellows to feel that the PMI is doing more to look after their business needs.