The Pensions Management Institute
Add to basket or enquire
To provide an understanding of the requirements and standards of governance relating to defined contribution (DC) workplace pension schemes.
Level 4 Certificate
The qualification is grouped under fourteen main headings.
- Distinguish between the different methods of providing and delivering DC pensions and the different benefits and options
- Evaluate why an employer might choose either a trust, master trust or contract based arrangement
- Understand the roles and functions of the bodies that regulate workplace DC pension schemes and provide assistance or protection to members and employers
- Outline recent developments in legislation and forthcoming changes that will impact on DC pension provision
- Demonstrate an understanding of the automatic enrolment requirements
- Demonstrate an understanding of the importance of the governance structure in DC arrangements
- Demonstrate an understanding of the importance of risk management
- Demonstrate an understanding of the nature of decision making and the role of professional advice
- Understand the Pensions Regulator’s and DWP’s approach to DC governance and quality standards
- Understand the Financial Conduct Authority’s regulatory approach to DC Quality Standards
- Understand the administration requirements for DC arrangements
- Demonstrate an understanding of the importance of effective member communications and engagement
- Demonstrate an understanding of the National Association of Pension Funds Pensions Quality Mark 'PQM'
- Demonstrate an understanding of the role of trustees and employer and provider governance committees in choosing and monitoring investments
Who is this course for?
It is suitable for those running, advising on or governing workplace pension schemes including:
- Members of governance committees
- Trustees and scheme secretaries
- Associates or Fellows of the PMI who qualified when the examinations were focussed on the requirements for defined benefit schemes
- Individuals working in allied professions such as legal, investment and actuarial
- Consultants advising on pure DC schemes (trust and contract) and those whose defined benefit schemes include for example AVC arrangements
- Independent Financial Advisers
- Administrators (including providers and master trusts) of pure DC schemes (trust and contract) and those whose defined benefit schemes include for example AVC arrangements
- Those who have completed the PMI’s Certificate in Pensions Automatic Enrolment, Retirement Provision Certificate or Certificate in Pensions Essentials.
It is a compulsory requirement to be a member of the PMI to sit the examination.
Candidates (who are not already PMI Members) will become Affiliate Members of the PMI. Candidates who successfully complete the qualification will be entitled to apply to become Certificate Members of PMI and use the designation CertPMI after their name.
The Certificate in DC Governance is a standalone qualification.
Those who complete the RPC could proceed to any of the PMI Diplomas or consider other standalone PMI qualifications, depending on individual circumstances.
Questions and answers
Currently there are no reviews for this course. Be the first to leave a review.