UK - The National Association of Pension Funds is under fire for launching a trustee qualification run in competition with the Pensions Management Institute.
The PMI – the industry’s foremost educational body – has been offering its Trustee Certificate of Essential Pensions Knowledge for more than a decade.
But the institute now faces competition from the NAPF, which has launched its online Trustee Competence Certificate.
PMI president Roger Cobley told PP he was “puzzled” why the NAPF had not sought consultation given the institute’s extensive experience.
He said: “The PMI is the only professional institute providing qualifications specifically tailored to the management of pension schemes; it is the natural provider of the certificate.
“We are in talks with OPRA about what exactly will be appropriate under the new pensions regime – but continued support for trustees will be needed, which we will provide.”
Trustee Norman Braithwaite said it was a pity the NAPF had not built on the PMI’s professionalism and expertise in this area, and instead set itself up in competition.
Trustee Code of Practice chairman Brian Holden agreed and claimed there had been a lack of trustee input in the NAPF’s initiative.
But the NAPF insisted it had discussed the training programme with the PMI “many months ago” and had sought views from a range of industry representatives, including trustees.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.