The Pensions Management Institute (PMI) has revamped its qualifications package in a bid to drive up industry standards.
It says these changes come amid an increasingly complex pensions landscape and are designed to ensure professionals gain the skills needed to deliver better outcomes for members.
This moves comes as the Government and The Pensions Regulator (TPR) warn that while standards are improving, more needs to be done across both DC and DB schemes to “upskill” for the regulatory and legislative changes ahead.
The PMI’s improvements include, modernising how qualifications are assessed, increasing yearly opportunities to sit exams, and launching a new independent academy to provide high-quality training materials and support for learners.
The PMI says these improvements are already having an impact with a 39 per cent increase in sittings of its advanced diploma in retirement provision, when compared to the Spring 2025 exams.
PMI chief executive Gareth Tancred says: “In a rapidly evolving and more complex system, those running pension schemes are on the front-line of creating better-run schemes that deliver good saver outcomes.
“Our new qualification improvements reflect the PMI’s deep investment in the future of pensions. Our mission is to bridge the skills gap without compromising quality.
“This is not about making it easier to gain our qualifications. This is about streamlining our learning journey to unlock a new wave of talent, ready to lead in a world where resilience and an ability to embrace financial sustainability, innovation and technology are fundamental.”
He adds these various steps will drive up standards, while accelerating the growth in the number of qualified pension people. Both he says are vital, given the new requirements set out in the Pension Schemes Bill and a rapidly consolidating market.
