The Pensions Management Institute has launched a Certificate in Pension Scheme Member Guidance.
The new qualification is designed to support individuals who work in customer facing roles within the pensions and retirement industry.
It gives pension consultants and administrators who come into contact with scheme members or pension savers, the knowledge to enable them to deal with a variety of difference scenarios in what the PMI describes as a "clear, concise, and empathetic manner without straying into regulated advice."
Completing the qualification means individuals are able to explain a full range of pensions and retirement savings benefits and options covering a wide range of "decision points", for example transfers and pensions in divorce.
The final assessment for its new qualification will be conducted via a short role-play style telephone conversation, but all other support is provided through a comprehensive on-line learning programme.
PMI president Kevin LeGrand said: "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.
"The 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," he added.
The PMI supports and develops the experts who are responsible for running the UK's pensions and employee retirement benefits industry.
They are the leading professional body for establishing, maintaining and improving professional standards in every area of pension scheme management, consultancy and trusteeship.
People who register for the new Certificate before 31 May 2016 will form the first cohort, with successful candidates qualified by the end of 2016.
For more information or to speak to someone from PMI, email qualifications@pensions-pmi.org.uk.
First published 01.04.2016
Lindsay.sharman@wilmingtonplc.com
