Retirement provision

The Retirement Provision steam is for an individual to undertake, after sufficient experience, a position as a pension’s specialist within a self-administered scheme; a third-party administrator; a life assurance company; or within the consulting and advisory services. 

Please refer to the learning webpage here : Pathways Learner Support Materials

All units that come under the Retirement stream will be assessed via short answer questions only. Please refer to the Retirement Provision stream specification under 'useful resources' for further information regarding how the exams will be assessed.

We suggest taking the exams in the following sequence to optimise your learning experience.

Core unit 1A – Understanding Retirement Provision

       The aim of the unit is to provide an introductory overview of retirement provision in the UK

Core unit 2 – Regulation of Retirement Provision

        This unit provides an overview of the regulation of retirement provision in the UK.

Core unit 3 – Running a Workplace Pension Scheme

        This unit gives learners an overview of the requirements of running a workplace pension scheme.

Core unit 4 – Financing and Investing for Retirement Provision

An overview of how employers and employees pay for workplace pensions and distinguishing between defined benefit and defined contribution arrangements.

Defined Benefit Arrangements

An in-depth unit on  trust-based defined benefit (DB) arrangements   Students will apply DB arrangements  in a variety of scenarios, recognising the requirements of different stakeholders.

Defined Contribution Arrangements

The unit aims to deepen understanding of trust and contract-based DC arrangements, applying core unit knowledge across diverse scenarios while acknowledging stakeholder requirements.

Reward and Retirement Provision

Gain an understanding of the main employee benefits, their value, cost structures, taxation implications and how they interact with saving for retirement.

Professionalism and Governance

Candidates will acquire an in-depth understanding of professionalism and ethics, as well as the importance of continuing professional development. They will explore risk and governance issues in pension schemes, and apply these principles practically. Additionally, they will develop the ability to effectively communicate their knowledge to relevant audiences.

The above are all part of the Advanced Diploma in Retirement Provision qualification.

Please note, we can only accept completion of units post 2016 only. Any exams passed pre 2016 would need to be taken again if you want to complete a particular steam. 

You are advised to begin studying in November for the April examinations the following year and in May for the October examinations.

The Retirement Provision stream comprises of 8 units and all of the eight units must be passed in order to complete the qualification

Please note: To sit this qualification, you must be at least a Student member of the PMI.  

For new students or former students returning to the PMI the student membership fee will be £247 (25 April – 31 August 2026)

Existing student members will not be charged a membership fee at point of enrolment but will be invited to renew their membership for the upcoming 25/26 membership cycle in May 2025.  

You do not have to apply for a PMI membership separately as the applicable membership price (if required) will be added to you cart when registering for the exam.