Diploma in Retirement Provision

The Pensions Management Institute

This qualification comprises five units. These units are a selection from those available for the PMI Advanced Diploma.

Understanding Retirement Provision

To provide an introductory overview of retirement provision in the UK including an appreciation of:

• how workplace pensions have developed, the different types of workplace provision and how they sit alongside State pension provision
• the key features of automatic enrolment, trust and contract-based provision
• the roles and responsibilities of those involved in running workplace pensions
• personal savings and the options for retirement saving
• employee engagement with retirement provision.

Regulation of Retirement Provision

To provide an overview of the regulation of retirement provision in the UK including an appreciation of:

• how workplace pensions have developed, the different types of workplace provision and how they sit alongside State pension provision
• the key features of automatic enrolment, trust and contract-based provision
• the roles and responsibilities of those involved in running workplace pensions
• personal savings and the options for retirement saving
• employee engagement with retirement provision

Running a Workplace Pension Scheme

To provide an overview of the requirements of running a workplace pension scheme, including an appreciation of:

• the implications of the tax and regulatory regimes that apply to workplace pensions
• scheme administration, payroll and financial administration
• the importance of data and data protection
• the calculation and payment of benefits
• the role of technology

Financing and Investing for Retirement Provision

To provide an overview of how employers and employees pay for workplace pensions and distinguishing between defined benefit and defined contribution arrangements and including an appreciation of:

• the factors which will influence the funding strategy, including the taxation regime
• risk appreciation and management
• financial regulation
• accounting and tax issues
• investment, investment management, investment strategy and governance

Plus a choice of specialist option units:

Either

Defined Benefit Arrangements

To provide an in depth understanding of trust-based defined benefit (DB) arrangements, building on and utilising the knowledge gained in the core units and applying it in a variety of scenarios, recognising the requirements of different stakeholders.

or

Defined Contribution Arrangements

To provide an in depth understanding of trust and contract-based DC arrangements, building on and utilising the knowledge they have gained in the core units to show that they can apply this in a variety of scenarios and recognising the requirements of different stakeholders.

This course is aimed at all Pensions Professionals who wish to take a strategic look at pensions and develop their learning further. It is the initial stage in the road to completing the Advanced Diploma and gaining the APMI post nominals.

There are no formal prerequisites for this qualification; either qualifications or knowledge and experience.

However, we would anticipate most candidates would be working in the field.

Candidates undertaking the qualification will need to be at least a Student Member of the PMI.

Candidates completing the qualification successfully will be eligible to seek election as Diploma Members of the PMI with the designatory initials DipPMI.

These units can also be selected as options within the PMI Advanced Diploma in Retirement Provision.

Once completed this qualification will give 5 exemptions to the Advanced Diploma in Retirement Provision (ADRP).