The Pensions Management Institute (PMI) has launched a bold programme of improvements to its qualifications package to drive up industry standards.  

As the pensions landscape grows increasingly complex, the PMI’s new approach to its industry-leading qualifications will enhance how professionals gain the vital skills needed to deliver better outcomes. 

The move comes as Government and The Pensions Regulator (TPR) warn that while standards are improving, more needs to be done in both Defined Benefit and Defined Contribution schemes to upskill for the significant upcoming regulatory and legislative changes ahead.  

Gareth Tancred, Chief Executive of the PMI, said: 

“In a rapidly evolving and more complex system, those running pension schemes are on the front-line of creating better-run schemes that deliver good saver outcomes.  

“That’s why our new qualification improvements reflect the PMI’s deep investment in the future of pensions. Our mission is to bridge the skills gap without compromising quality.  

“This is not about making it easier to gain our qualifications. This is about streamlining our learning journey to unlock a new wave of talent, ready to lead in a world where resilience and an ability to embrace financial sustainability, innovation and technology are fundamental. 

“We’ve listened to the Government, the regulator and industry to introduce measures that will enhance our qualifications system, and ultimately better protect savers.” 

The PMI’s improvements include:  

• modernising how qualifications are assessed 

• increasing yearly opportunities to sit exams 

• launching a brand-new independent training academy to provide high-quality training materials and support for learners.  

The improvements are already having an impact. For example, the PMI has seen a 39% increase in sittings of its Advanced Diploma in Retirement Provision, when compared to the Spring 2025 exams. 

These steps will drive up standards while also accelerating the growth in the number of qualified pension people, which is vital, given the new requirements set out in the Pension Schemes Bill and a rapidly consolidating market.  

Notes to editors 

• Last month, TPR published new insights from its year-long engagement with 15 pension administrators, highlighting the growing importance of administration, and has also set out how it is engaging with professional trustee firms to outline its expectations.  

• Full details of the PMI’s qualifications can be found at Qualifications - The Pensions Management Institute  

The Pensions Management Institute (PMI) is the UK’s leading professional body for those working in pensions and retirement savings. With over 8,500 members, the PMI represents the broadest range of pensions professionals and trustees in the country. Its members are responsible for managing and advising some of the world’s largest pension schemes, making key decisions on substantial financial matters.  

With more than £1 trillion invested in UK pensions, PMI members play a vital role in shaping the nation’s financial future. With five decades of experience, PMI remains at the forefront of pensions education and thought leadership.   
 

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Press contact:  

For media enquiries, please contact Matt Adams, Head of Media and PR at pressoffice@pensions-pmi.org.uk