The Pensions Management Institute (PMI) is marking its 40th year by setting out its vision for the industry.

Established in 1976, the PMI was set up to educate and provide career development through professional qualifications.

Its current chief executive, Gareth Tancred, has been in his role for six months and has outlined what is ahead for the organisation.

He said the organisation must provide an authoritative voice to the industry, articulating the opinions of its members.

Educational support to members will remain a priority and the PMI aims to continue to lead the way with educational opportunities.

Tancred added that the most important role for the PMI would be to support change: "We want to position the PMI as a force for good that will help the industry to develop in the rapidly changing corporate world and respond to the challenges raised by government legislative programmes."

Recognising the importance of staying at the forefront of industry change, Tancred added: "Our industry is constantly evolving and there are crucial things any industry body must do to continue to remain relevant to its members and potential members."

"It is only by constant review and market testing among our members' organisations that we can really know we are meeting the needs of the modern pension and retirement savings professional."

The PMI is also making changes to its flagship qualification – the Advanced Diploma in Retirement Provision – and the introduction of new qualification the Certificate in Pension Scheme Member Guidance.

The new qualification will be supported by interactive online learning and examined by verbal interview instead of a written test.

Tancred said he was looking forward to guiding the PMI to achieve its aims: "Now in my sixth month here, the task ahead is clear."

"There are several areas of focus in the months and years ahead to become the 21st century that I want us to be."

First published 07.07.2016

Lindsay.sharman@wilmingtonplc.com