The Pensions Update Programme (R08) is designed as a bridging qualification open to those who have already passed a pension exam such as AF3 pension planning or a level four unit such as R04 pensions.
The programme aims to develop an understanding of how the new pension freedoms, which came into effect on 6 April, will impact those seeking advice on retirement, and will help professionals tailor their advice for clients.
Steve Jenkins, director of financial services and insurance markets at the CII, said: “It is estimated there will be around 400,000 retirees each year in need of guidance, and with around 33,000 advisers qualified to QCF level 4 – over 4,500 of these Chartered Financial Planners – there’s plenty of support available to facilitate this need.
“R08 is key in providing structured continual professional development to ensure qualified advisers are kept up to date with the changes coming to pensions so they can continue to advise those in need,” he said.
The new programme caters to all candidates who hold an existing pensions exam. In addition it will provide 10 Diploma-level credits to contribute towards the Advanced Diploma in Financial Planning, the qualification that underpins Chartered status.
Exam sittings will be available year round from August 2015 nationwide, and employers will have the option to offer online exams from their premises.
