A new pensions qualification has been launched for pensions professionals wishing to offer advice on pension transfers.

The new qualification from the Institute of Financial Services University College, the Award in Pensions Transfers (AwPETR), is combined with the college's Diploma for Financial Advisers (DipFA) and meets the qualification requirements set out by the FCA for pensions transfers specialists.

Martin Day, vice principal banking, finance & regulation at ifs University College, said the launch of the new qualification coincides with the recent pension reforms that allow consumers greater freedom.

He said: ""Access to high quality professional advice on pensions has always been important, but the recent reforms mean it is now more vital than ever.

With greater freedom comes greater risk and it is essential that advisers have the advanced knowledge and understanding to be able to make appropriate recommendations."

The Award in Pensions Transfers (AwPETR) is a single unit qualification designed to develop a comprehensive appreciation of pensions transfers regulations, the role and responsibilities of the parties involved, and how to identify solutions to meet client needs.

"The recent reforms mark some of the most significant changes that the industry has seen in recent years and the launch of this qualification is very timely.

"It is vital that anyone advising on pensions operates to the highest of professional and ethical standards," said Martin Day.

Ifs University College is the university college for financial education - based in London.

It is a registered charity incorporated by Royal Charter that exists to ensure a flow of talented individuals into the financial services industry and related sectors.

Its qualifications enable individuals to reach their full professional potential and encourage appropriate and ethical practice.

First published 16.04.2015

Lindsay.sharman@wilmingtonplc.com