Pensions - Articles - Qualification in Pension Scheme Member Guidance launched


JLT Employee Benefits and the Pensions Management Institute launch first professional qualification in Pension Scheme Member Guidance

 Following the announcement of the retirement Guidance Guarantee in the March 2014 Budget, JLT Employee Benefits, in conjunction with the Pensions Management Institute, has developed a “Certificate in Pension Scheme Member Guidance”, the first qualification designed to test an individual’s knowledge of pensions and related benefits and their ability to apply that knowledge to best effect when communicating with pension scheme members. The qualification has been certified by the Office of Qualifications and Examinations Regulation (Ofqual) as Level 4.
  
 This unique qualification provides both the theoretical and practical knowledge on pension options, with a final oral exam to test the individual’s skill in dealing with member enquiries. The qualification is aimed at any individuals, from administrators and paraplanners to HR professionals, involved in helping members of both DC and DB pension schemes to understand their pension choices and enable them to make better decisions at various life and change events, including the run-up to retirement.
 Approximately 25 candidates have taken the inaugural course. The successful candidates will be announced and will receive their certificates from the PMI at a ceremony on 17 December 2014.
  
 Margaret Snowdon OBE, Director, JLT Employee Benefits, said:
  
 “2015 will see a monumental shift in the way people access and save for their retirement. Whilst much has been discussed about the practicalities and adequacy of the Government’s free guidance service for DC members at the point of retirement, we felt strongly about the need for a tangible qualification, so that scheme administrators and others can evidence the right skills in guiding members. This is necessary whether the guidance is provided by the free Guidance Guarantee or through valuable “guidance plus” support, paid for by schemes and employers. We are delighted to have brought this to fruition, together with the Pensions Management Institute.”
  
 Vince Linnane, CEO of the Pension Management Institute, said:
  
 “I am delighted that 23 individuals have passed this new qualification and look forward to many more attaining this certificate. The PMI is delighted to have participated with JLT Employee Benefits as the qualification development partner on the Certificate and we are appreciative for the considerable amount of time and resources that have taken us to a successful completion of the initial pilot phase. We will shortly release further information on how the qualification will be rolled out nationally.”
  
 Rt Hon Steve Webb MP, Minister of State for Pensions, said:
  
 “I welcome this new qualification, which will help to deliver one of the key requirements of the pension reforms, namely that those who provide guidance can show that they have the knowledge and skills to help scheme members understand their pension options and make more informed and therefore better decisions.”
  
 Candidates who have completed the Certificate in Pension Scheme Member Guidance:
  
 Adam Flynn
 Aaron McCulloch
 Andrew Law
 Carl Betts
 Carole Leigh
 Christopher Self
 Dawn Edwards
 Denise Lucas
 Elizabeth Macbeth
 Emily Baines
 Ian Brown
 Jo Carr
 Kate Price
 Kate Russell
 Mark Daley
 Mark Molloy
 Matt Holden
 Michael Phipps
 Mike Hitchins
 Niccie Smith
 Rob Jackson
 Stacey Owen
 Tim Allen
  

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