Update on pension transfer qualification changes

The CII has written to members to provide an update on the CII’s changes in response to Financial Conduct Authority (FCA) announcements on pension transfer qualification requirements. Many advisers working in pension transfer activities already meet these requirements but it is important that you review these if you are unsure.

The FCA announced in October 2018 that, from 2020, the requirements to be a pension transfer specialist would increase, so that all pension transfer specialists will have to have a full qualification for retail investment advice alongside a pension transfer specialist qualification.

Due to Covid-19, the FCA delayed the change in qualification requirements to be a pension transfer specialist until 1 October 2021. Since 2018, these announcements have been shared and updated, along with implications for CII qualifications and learners, on our qualification and unit webpages.

Please visit our pension transfers specialist page to learn about the upcoming qualification requirements, here: www.ciigroup.org/en/learning/qualifications/pension-transfers-specialist

You will find comprehensive FAQs available at www.ciigroup.org/pensiontransfers

If you require any assistance, please contact customer service via our online chat facility or alternatively on 020 8989 8464.

Image credit | Shutterstock