This course is part of the following PMI Pathways...

Prepare to excel as a Pensions Consultant with technical expertise in calculations and client engagement. This course equips you with the skills needed for roles in self-administered schemes, third-party administration, life assurance companies, and consulting and advisory services, covering both DB and DC schemes. 

Who is this course for?

Audience

The Pensions Administration steam is for anyone working in Pensions Administration who wishes to work in either DB or DC schemes as a Pensions Consultant, with an aptitude for calculations and the ability to engage clients.

Assessment method

Note

The following units will be assessed via short answer questions only:

  • Core Unit 2 - Regulation of Retirement Provision : The aim of this unit is to provide an overview of the regulation of retirement provision in the UK. 
  • Core Unit 3 - Running a Workplace Pension Scheme  : The aim of this unit is to provide an overview of the requirements of running a workplace pension scheme. 
  • Defined Benefit Arrangements unit : This unit provides an in depth understanding of trust-based defined benefit (DB) arrangements, building on and utilising the knowledge gained in the core units and applying it in a variety of scenarios, recognising the requirements of different stakeholders. 
  • Defined Contribution Arrangements unit : The aim of the unit is to provide an in depth understanding of trust-based defined benefit (DB) arrangements, building on and utilising the knowledge gained in the core units and applying it in a variety of scenarios, recognising the requirements of different stakeholders. 
  • Professionalism & Governance unit

    The aim of the unit is to provide candidates with: 

    • an understanding of the importance of professionalism and ethics 
    • the importance of continuing their own professional development 
    • an appreciation of risk and governance issues as they apply to pension schemes 
    • the opportunity to demonstrate their ability to apply risk and governance principles in a practical situation 
    • evidence that they can communicate their knowledge in a way that is relevant to their audience 

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.  

  The Award in Pensions Essentials is a qualification designed to support and acknowledge the training and development of new pensions administrators or those who need an introduction to pensions, HR or Payroll. 

The Retirement Provision Certificate is ideal for employees new to pensions, support staff and those professionals working in related fields. It provides a broad introduction to pensions and other related benefits in the UK. 

The Certificate in Pensions Calculations (CPC) is a qualification for pensions administrators designed to demonstrate competence in the manual calculation of benefits of occupational pension schemes. 

The following qualification is calculation based:

  • Certificate in Pensions Calculations

The following qualification is assessed by multiple choice questions:

  • Retirement Provision Certificate

The following qualification is assessed via work-based activity and can only be taken if you are part of a PMI Approved examination Partner:

  • Award in Pensions Essentials

Please refer to the Pensions Administration (TECHINICAL) stream specification under 'useful resources' for further information regarding how the exams will be assessed.

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.  

Study time

Calendar

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

The Pensions Administration (technical) stream comprises of 5 units and 3 qualifications.

7 units/qualifications out of the of the eight units/qualifications must be passed in order to complete the qualification

Cost

Wallet

Exam Entry (per ADRP unit) £560

Exam Entry CPC per unit £220

Exam unit RPC exam £520

Revision Course (webinar) £75

Exam entry Re-Sit Fee :

ADRP per unit £300

CPC £200

RPC £300

Examination Partner fee: £700

Transcript £25

Final Pathway Certificate £85

To sit this qualification you must be an active member of the PMI. Student membership is currently £178 and will be added to your total fee at checkout if you are not already a PMI member. (£75 from 1 April 2024 – 31 August 2024). The student membership cycle runs from the 1 September to 31 August.

For former PMI members enrolling in this qualification an additional re-instatement fee of £35 will also be applied at the check out stage.