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New pension transfer qualification attracts 500 applications in first week

teachA new pension transfer qualification has seen 500 sign-ups in its first week of its launch.

The Chartered Insurance Institute has officially kicked off enrolment into its Level 4 Certificate (AF7) in pension transfers advice, which tacks a new Level 6 pension transfers unit onto three existing Level 4 exams covering pensions and retirement planning, investment principles and ethics.

Advisers who don’t hold either the CII’s AF3 pension planning or legacy G60 qualification which would allow them to provide pension transfer advice, but do hold the CII Diploma in Financial Planning, can take the new AF7 unit to become qualified.

Personal Finance Society chief executive Keith Richards says: “We are delighted so many have pursued these qualifications to gain the in depth enhanced knowledge required to ensure they can help their clients achieve the best outcomes in seeking financial security in retirement.

“It is understandable that the FCA renewed its focus on the qualifications, experience and continuing professional development requirements for pension transfer specialists but our members told us what they wanted ahead of the regulator demonstrating how far the profession has advanced. Our new dedicated pension transfer exam unit is client focused and has been developed in the spirit of the FCA’s current consultation.”

The CII is planning to replace its AF3 pension planning unit with a combination of AF7 and a forthcoming AF8 retirement income planning unit in October, phasing out AF3 by April next year.

Richards will be speaking at the Money Marketing Interactive conference, which is being held at the Majestic Hotel in Harrogate on 14 September. To join over 100 advisers and register to secure your free place, click here.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. What a load of tosh!!!If the last question asked, gets a response of, How Much!! most will become Instant Clients, bet you know the Question!

  2. Why do people fall for this rip off. The CII split the syllabus into two and make you pay double the cost than you pay for the AF3 for the same knowledge outcome – appalling. The other thing to ask the CII, for those that have passed the AF3 any other discontinued exams, is how long will it be before they wipe them from your learning statement. I would suggest that any adviser currently still in their 20’s or 30’s, will find they may have to resit their exams 2 to 3 times before the end of their careers. This is one subject the CII are remarkable mute about

  3. Like shoppers at the sales! Here we go again!!

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