The Pensions Management Institute has overhauled its pensions administration qualifications as it looks to improve flexibility.
The PMI, which has 5,000 members, has merged its qualification in pensions and in public sector pensions administration. It has created the certificate in pensions administration at QCF level three and the diploma in pension administration at QCF level four.
The decision was made after “significant differences” were found in the way pensions admin functions across different companies. The changes will allow each organisation to create their own qualification through unit selection. The PMI will also offer new units on governance, client service and winding-up pension schemes.
Chief executive Vince Linnane says: “These new qualifications will demonstrate work-placed knowledge, understanding and competence, giving people the option of choosing those units most relevant to them. They will also provide employers with a platform to check how employees are doing, which can be used for reviews and appraisals.”