Qualification launched to help avoid straying into advice


The Pensions Management Institute has launched a new qualification to help stop people straying into regulated advice when giving information to pension scheme members.

The Certificate in Pension Scheme Member Guidance is aimed at consultants and administators with customer facing roles but without advice permissions.

Topics include transfers and how pensions interact with divorce.

Final assessment will be over the phone via role-pay conversations with the rest of the course completed online.

The first successful candidates will be qualified by the end of 2016.

PMI president Kevin LeGrand says: “The industry has an ongoing issue that is extremely difficult to reconcile – the ability to fully explain and help members and pension savers on their pension and retirement options, while at the same time not straying into the financial advice trap.

“It is a travesty that people might not be getting the help they need because pension professionals live in fear of making a mistake. Our new certificate in pension scheme member guidance will provide a firm basis of knowledge from which pension consultants and administrators can speak with confidence and do their very best to help people achieve the best retirement prospects possible.”