Summary

Legislative changes make it vital for those within the pension sector to have up-to-date knowledge and practical skills to carry out their jobs accurately and efficiently. This qualification has been developed with pension practitioners to meet industry needs. It is suitable for those who either work or wish to work as pension supervisors, managers, team leaders, clerks, assistants or administrators.

Units

Overview of UK Pension Schemes 

• Different types of pensions available in the UK
• The role of the HMRC, pensions regulators and other key groups
• HMRC requirements including annual reporting

Transferring into and out of Pension Schemes

• Pension scheme regulations and requirements when dealing with transfers
• Requirements and data verification required to enable transfers in and out of pension schemes

Providing Pension Scheme Information

Criteria for membership of UK pension schemes and the information required for potential members
• Information for members whose changing circumstances could impact on benefits/rights

Creating and Maintaining Pension Scheme Member records

• Rules and procedures for creating and amending members’ scheme records
• Completing the new member process on time
• Investigating and resolving new member applications

Payment of Scheme Benefits to Pensioners

• Scheme and regulatory rules required to set up and process a pensioner payroll database and determine continued payment of benefits
• Communicating with pension member as per regulatory rules, service level agreements, etc

Amend Pension Records to Reflect a Member’s Change of Circumstances

• Regulatory and scheme rules for leaving pension scheme before retirement, also for circumstances that impact on type of death benefits and other pension benefits
• Calculating and communicating pension benefits to meet agreed service levels

Working as the Member of the Pensions Team

• Working effectively as part of team
• Importance of clear and timely communication with scheme members
• Consistently meeting defined customer service standards

Assessment method

There is total of a one examination and six assessed written project assignments for the seven mandatory units. The qualification is graded at pass or fail.

Full details of this qualification can be downloaded below