A number of units in this qualification are work-based and will be completed as part of the day to day work activities carried out matching them to specific criteria listed in the units.

However some units are assessed via examination and the content of this page refers to studying for those examinations.

Early preparation and a planned study schedule for the examinations is essential:

1. As 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, becoming familiar with those schemes is essential.
2. Practise calculations from past papers and check the answers against those given in the appendix to the Examiners’ Report.
3. Read copies of past Examiners’ Reports – these will identify many common problems and guidance about how to avoid them.
4. A PMI online learning programme is available for each of the examined areas – Transfers, Deaths, Retirement and Leavers. It guides candidates through their preferred learning style enabling them to define how they want to practice for the examinations.

The online learning programmes are accessible from any computer that gives access to the internet. Each programme will keep a record of a candidate's progress and monitor their results as they work through the material.

Users will have immediate access to any changes in content and material connected with any of the unit programmes for which they have access.

Please be mindful that, although covering numerous scenarios, the on-line examples cannot cover each and every permutation on which candidates may be tested in the examinations.

Registration for online learning

All VQ registrations will need to contact the PMI qualifications inbox to register learners

The examinations are designed to test the competence of candidates in the calculation and communication of pension benefits for a range of scheme types.  Depending on the examination being tested, there will be either five or six case studies (Calculation Section) and either one or two letters (Letter Section).

The examinations are based on three types of fictitious pension schemes:

The examinations require candidates to provide evidence of their ability to:

• understand and interpret rules for different types of pension scheme
• carry out manual calculations for a range of member events, this range is detailed in the Units.
• understand the impact of supplementary information (e.g. part-time service, enhanced accrual rates, transferred-in benefits, AVCs, etc.) on the core benefits payable
• understand legislative restrictions that apply to the level of benefits payable
• communicate benefit options fully and accurately and request all the information required before the scheme can pay the benefits

Copies of Scheme Booklets and Tables of Factors should be taken into the examinations. It is vital that candidates ensure they have the current versions, which are downloadable from the learning website -

https://www.cpc-learning-materials.com/

March 2021

Retirements 1

Retirements 2

Deaths 1

Deaths 2

Leavers 1

Leavers 2

Transfers

September 2020

Retirements 1

Retirements 2

Deaths 1

Deaths 2

Leavers 1

Leavers 2

Transfers

Organisations wishing to offer this qualification must apply to the PMI for Examination Partner, unless they are already a PMI Examination Partnerd

It will be necessary to apply to become an approved Examination Partner- the process involves three stages:

• A Recognition Form is completed and returned to PMI along with the approval fee.
• An approval visit to the Examination Partners is carried out.
• Once approval is agreed a PMI Examination Partner Certficate is issued and candidates can be registered for the approved qualification(s).

Single Site Partner

This is an Examination Partner where all the candidates are at one location.

Multi Site Partner

If candidates are based at more than one location, it is possible to become a multi site Partner where it will consist of one Examination Partner and minimum of one satellite. In this setup there must be a Examination Partner contact who will be responsible for dealing with the administration of the qualification across all locations. All correspondence and examination material will be sent to the main centre contact who will be responsible for distributing it to the different locations. Each location must have a designated local contact. The alternative is to register each location as a single site Partner.

Application for Examination Partner approval £900

Application for Examination Partner £700

Add a qualification to an exisiting PMI Examination Partner No Charge

Add another location to a multi-site Partner structure £250

Add/change a Partner contact, invigilator, mentor, or internal verifier No Charge

Annual Examination Partner fee - once approved a Examination Partner fee is payable. This commences in the year following centre approval and is paid in April.

It is broken down as follows:

Single Partner £700

Multi-Site Partner £700 + £250 per satellite 

As soon as an Organisation has been approved as an Examination Partner, the candidate can then be enrolled on to the CPE  Qualification. All candidate registrations must be completed by the Examination Partner.

New to PMI?
The Examination Partner contact must register any new candidates.

Special consideration can be given to an individual who has temporarily experienced illness or injury or some other circumstance outside his or her control (such as problems at the exam centre such as noise or disturbance) that may have impacted on performance or attainment. 

The PMI is committed to providing fair and consistent examination, verification, approval and assessment processes. Visit the Wider information set page to find out more.