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CII launches new pension transfers qualification

Press Release

The Chartered Insurance Institute (CII) has launched a new pension transfers qualification to support those seeking to provide specialist pension transfers advice.

The new Level 4 Certificate in Pension Transfer Advice includes a new Level 6 unit (AF7) Pension transfers, open for enrolments in July 2017, and three existing CII Level 4 units - (R01) Financial services, regulation and ethics, (R02) Investment principles and risk and (R04) Pensions and retirement planning.

CII development director Steve Jenkins said the new Certificate develops the in-depth knowledge and practical skills needed by anyone seeking to advise on the transfer of safeguarded benefits, an increasingly important part of the advice process following the Government's pension reforms.

"Greater freedom and choice for retirees and tighter controls around who needs to seek advice mean that pension transfers and related advice are now more relevant than ever. It is against this backdrop that we are stepping up our support, with a dedicated pension transfer qualification and exam unit," he said.

Some 7,000 CII SPS holders are qualified to provide pension transfer advice, holding either withdrawn CII unit (G60) Pensions or current CII unit (AF3) Pension planning. The new Certificate enables advisers and non-advisers seeking to undertake pension transfer work for the first time to become pension transfer specialists.

Following FCA approval, expected in February, advisers who hold the CII Diploma in Financial Planning, but not G60 or AF3, will simply need to complete AF7 in order to become qualified pension transfer specialists. AF7 involves 50 fewer learning hours than AF3 given its specific focus on pension transfers.

The CII will also introduce a new Level 6 Advanced Diploma unit (AF8) Retirement income planning in October 2017, covering aspects of pension planning not covered in AF7. Together, the two new units will replace AF3, which will be withdrawn in April 2018.

For more information on the new Certificate in Pension Transfer Advice and related pension unit developments visit