The Pensions Management Institute (PMI) will launch a new diploma in pension trusteeship in October.
This optional qualification is available for pensions professionals who have already completed their accreditation.
This advanced standalone diploma has been designed to improve professional trustees’ technical knowledge and ability to navigate an increasingly complex sector. The PMI says it hopes it will also help raise the standards of trusteeship across the industry.
It was created after a PMI member surveyed showed 74 per cent of respondents were interested in taking further qualifications. The PMI says it hopes this will provide a useful industry benchmark, allowing trustees to demonstrate a level of competency in problem solving, judgement, the balancing of competing interests, analysis, problem-solving, and prioritisation.
This diploma is the PMI’s first qualification to integrate ESG into its course material, making it a markedly more advanced qualification.
The course will be assessed by a two-hour examination and is designed to for trustees of both DB and DC schemes, including members of governance committees, scheme secretaries and those who have completed The Pensions Regulator’s trustee toolkit. The diploma course will cost £495 for non-members and £345 for current members of the PMI.
Gareth Tancred, CEO of the Pensions Management Institute says: “Despite the pandemic, our membership has increased significantly in recent months. Following feedback our new members and the wider industry, we’ve launched the diploma in pension trusteeship to provide a benchmark qualification for those trustees who wish to demonstrate a certain level of skill and competency in handling increasingly complicated pensions issues. “
David Fairs, executive director for regulatory policy, analysis and advice at The Pensions Regulator adds: “The Pensions Regulator welcomes any new initiative designed to improve standards of trusteeship. We are pleased that PMI shares our commitment to driving up standards within the professional trusteeship sector.”