Several major IFAs and networks may soon make new Chartered Insurance Institute pension exams compulsory for all RIs advising on retirement planning, according to industry experts.
The new exams include K10, which covers retirement options, and K20, which covers pension investments such as annuities and income drawdown.
CII vice-president Peter Williams says: “Some national IFAs and networks are considering making K10 compulsory. Pensions are likely to be one of the Government's major general election issues and it is vital that advisers increase their knowledge.”
Misys IFA Services head of marketing Andrew Bedford says: “We have not made the qualifications compulsory but we are looking at the training.”