UK - The Pensions Management Institute has awarded two new qualifications to administrators of the University of Cambridge Pension Scheme.
The PMI launched the Level 3 Qualification for Public Sector Pensions Administration (QPSPA) three years ago in a bid to raise standards in the public sector.
Scheme administrators at Cambridge, Lesley Ladell and Susan Cross, were the second and third candidates to pass the qualification, with the PMI welcoming growing interest from the public sector.
Both said that, while fitting the qualification into a working week appeared “daunting” at first, much of the assessed work was performed on a day-to-day basis.
The workplace-based QPSPA covers early leaver benefits, retirement and death benefits, and pension transfers among other topics.
On completion, candidates can apply to become an ordinary member of the PMI and be awarded with the designatory initials MPMI.
Financial Sector Skills Council head of sector engagement Tom Caple said the PMI continued to be the leading provider of N/SVQs in the industry.
He said: “In a time when consumer confidence in the industry is vital, these qualifications in pensions administration play an important role in contributing to building and maintaining that confidence.
From the employer’s perspective these qualifications provide reassurance that their administrators can apply the skills and knowledge needed to carry out their roles competently.”
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point