The Pensions Management Institute (PMI) is a professional organisation that primarily focuses on the pension industry within the United Kingdom. It provides education, qualifications, and support to professionals working in the field of pensions, including pension scheme trustees, administrators, consultants, and others.
While the PMI's primary focus is on the UK pension industry, it does have members and connections with international pension organisations. It may collaborate with similar organisations in other countries to share knowledge and best practices in pension management. Additionally, some of its members may have international roles or responsibilities, so there can be a global perspective among its membership.
With that, we have worked with the Centre for Enterprise Management and Research (CEMAR) in Nigeria to produce a three-stages qualification that includes Nigerian pensions practice and administration as well as some of the practice associated normally with pensions administration in the UK.
The three stages are progressive (i.e. one has to be completed before moving to the next) and are:
Stage 1: Level 3 Award in Pensions Administration and Practice (Nigeria) (APAP)
Stage 2: Level 4 Certificate in Pensions Administration and Practice (Nigeria) (CPAP)
Stage 3: Level 5 Diploma Pensions Diploma in Administration and Practice (Nigeria) (DPAP)
This suite of qualifications will be of interest to a variety of learners including:
- pension scheme administrators working in either defined benefit (DB) or defined contribution (DC) schemes, or both in Nigeria.
- Nigerian organisations who wish their pensions administrators to select and construct a competence-based qualification that reflects their normal working activities.
- those interested in Nigerian Pensions.
- current Nigerian Pensions practitioners in other fields within the sector.
A separate learning website is under development.
For CPA units 11/12/13 and 14, the learning website can be found here
Assessment is by written exam across all units.
There are three examination sessions per year, and all candidates would be required to commence from Stage One and gradually progress to Stage Three of the Exams.
The examinations sessions annually would be held in:
• March
• July
• November
Some elements of the Level 5 qualification are only examined twice a year in the Spring and in Autumn (April and September) – these are:
- CPA 011 Calculate and Quote DB & DC Pension Scheme Death Benefits for Members without Special Circumstances
- CPA 012 Calculate and Quote DB & DC Pension Scheme Leavers
- CPA 013 Calculate and Quote DB & DC Pension Scheme Retirement Benefits for Members without Special Circumstances
- CPA 014 Calculate and Quote DB & DC Pension Scheme Transfers In and Transfers Out for Members.
This is also known as Total Qualification Time (TQT) (for this unit)
TQT is a measure required by Ofqual the qualifications regulator and is comprised of:
- Guided Learning Hours (GLH). This means time spent being taught by an instructor (and not necessarily face to face); and
- Study Time. This means self-study/revision/reading
- Assessment Time: This is both Formative and Summative (Mock Exams and Final Exams)
The above estimates are based on evidence we have gathered from users of our qualifications, past experience and benchmarking exercises. The evidence we have gathered indicates that there is considerable variation within the overall TQT estimates as blended approaches are common with differing mixes of Guided Learning and other elements which contribute to TQT. These estimates are reviewed regularly.
The TQT can be found in the specification document, under 'useful resources'.
Examination Partner £700 per annum **Payable by CEMAR**
Candidate Registration £80
Please note, the candidate registration fee provides all students with PMI VQ student membership for the duration of the qualification.
Exam entry £220 *CPA exam units 11/12/13 and 14
Exam entry re-sit £200 *CPA exam units 11/12/13 and 14
Final Certificate (COMPULSORY) £85
Unit Certificate (if required) £30
Replacement certificate PDF (if required) £40
Replacement certificate hardcopy (if required) £85
