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PMI Level 6 Diploma in Regulated Retirement Advice



The Diploma in Regulated Retirement Advice (DRRA) is designed to meet the FCA's requirements for retail investment advice purposes.  

DRRA and Appropriate Qualifications for FCA Purposes

The qualification:

  • comprises 2 units within the Advanced Diploma framework.  The two units are called 'Taxation, Retail Investment and Pensions' and 'Retail Advice and Regulation'. Both units will be assessed by three hour written examinations.
  • fully meets the FCA's appropriate qualification requirements for the regulated activities “advising on retail investment products which are not broker funds” and “advising on friendly society tax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)”.
  • is an appropriate qualification for undertaking the FCA regulated activity as a pension transfer specialist.

The FCA has added this qualification to the appropriate qualifications list.

DRRA and the PMI Accredited Adviser Programme (PMI AAP)

As DRRA is a fully RDR compliant appropriate qualification, those who complete it will be eligible to join the PMI AAP in order to fulfill the ongoing professionalism requirements of the FCA.

Syllabus Details

The qualification comprises the following Units:

Advanced Diploma Syllabus Structure from 2016

The 100, 200 and 300 level syllabuses were last examined in October 2015. The Advanced Diploma changed for examinations beginning in April 2016.  These changes also impact Diploma level qualifications within the Advanced Diploma structure.

Revised study material will be available from September 2015. Full details can be found in the Advanced Diploma Consultation Response Document.  Further information will be made available on this website in due course.

An FAQ document has been produced that covers these issues and others and can be found here.

PMI Membership

It is a compulsory requirement to be a member of the PMI to sit the examinations.  Candidates (who are not already PMI Members) must first become a student member. Candidates completing the Diploma are entitled to seek election as Diploma Members of PMI with the designatory initials DipPMI.

Further information

For details of our activities in the RDR related arena contact qualifications@pensions-pmi.org.uk  

Customer service

The PMI is committed to providing a customer focused and professional service to all its approved assessment centres, students and candidates taking any of our qualifications.  Please click on the attached links for details of all of our commitments to you.

Customer Service Statement

Equal Opportunities Statement

Want to contribute to PMI qualifications?

The PMI relies on the contribution of individuals working in the industry. Without the involvement of these people it would be very difficult for our qualifications to be what they are.

If you would like to get involved visit Support for the Institute's Qualification Activities

If you know what you would like to get involved with visit Register Your Interest. Please return to qualifications@pensions-pmi.org.uk.


  1. PMI AAP Guidebook

    PMI AAP Guidebook

  2. Advanced Diploma Consultation Response 2015

    Advanced Diploma Consultation Response 2015. Including full details of the Advanced Diploma for examination from April 2016.

  3. Qualification Specification DRRA

    2017 Qualification Specification DRRA

  4. Qualification Fees 2019

    A summary of qualification fees for 2019.