Certificate in Pension Scheme Member Guidance

The CPSMG is a course that provides knowledge and understating necessary to offer guidance and improve member outcomes and benefit options.

The qualification includes four core modules that cover essential knowledge and understanding, seven application modules that cover various member events and one member interaction module that applies all relevant matters from the core and application modules:

Core knowledge modules
(1) Information, Advice and Guidance on Pension Benefits
(2) Options available from Different Pension Schemes
(3) Financial considerations when making Pension Benefit Decisions
(4) Lifestyle factors that impact on Pension Benefit Decisions

Application modules
(5) Joining an Occupational Pension Scheme
(6) Leaving an Occupational Pension Scheme
(7) Transferring Pension Benefits
(8) Divorce and Pension Benefits
(9) Pension Scheme Death Benefits
(10) Pension Scheme Retirement Benefits
(11) Annuities and Pension Benefits

Member interaction module
(12) Communicating with Pension Scheme Members Seeking Guidance

This qualification is designed to meet the needs of pensions staff who regularly liaise with members selecting options from a pension scheme. It is concerned with improving member outcomes and providing guidance on benefit options. As this guidance is in the area of non regulated advice the qualification provides an overview of the distinction between regulated and non regulated advice, the different types of pension scheme and the factors that need to be considered in making decisions in regard to benefits. It covers various options and situations, including: joining, leaving, transferring, retirements, commutation, death, and divorce.

Candidates undertaking the qualification will be automatically enrolled as Student Members on registration for the duration of their study.

Candidates completing the qualification successfully will be eligible to seek election as Certificate Members of the PMI with the designatory initials ProfPMI

The exact choice will depend on individual circumstances and career path.

There are no formal prerequisites for this qualification; either qualifications or knowledge and experience. However it is likely that candidates will have obtained relevant pensions related experience and/or obtained a relevant pensions related qualification.

We would anticipate most candidates would be working in the field

Those who complete this qualification could proceed to complete additional PMI administration focussed qualifications such as the Certificate in Pensions Calculations, Certificate in Pensions Essentials, Certificate in Pensions Administration or Diploma in Pensions Administration. Alternatively they could pursue the PMI Diploma and Advanced Diploma in Retirement Provision.