Starting a career in the pensions industry is a smart choice, offering long-term stability, career growth, and the chance to influence financial security for many. To succeed in this evolving field, it's important to gain the right skills and knowledge.
This guide outlines six key steps to help you begin your career in pensions, with a focus on how the PMI can support your journey. Whether you're new to the sector or looking to enhance your expertise, these steps will set you on the right path.
1. Understand the Pensions Landscape
Before diving into the pensions industry, it’s essential to understand its structure and components. There are plenty of areas to explore within pensions, so it’s essential to find the one that you enjoy and feel motivated by.
Familiarise yourself with the regulatory environment, industry players, and current trends. PMI offers a range of training programmes designed to provide you with foundational knowledge and insights into the industry’s workings.
2. Invest in Relevant Qualifications
Professional qualifications are critical for establishing credibility and expertise in the pensions field. PMI offers 5 pathways, which consist of qualifications and accreditations that will allow you to acquire all the knowledge and skills you need to become a professional in the pensions career you prefer, whether that’s trusteeship, Pensions Administration or within the Pensions Advisory services.
“For many of the roles I have done, having a qualification from the PMI was a pre-requisite, which shows the high regard that the qualifications are held in.”
Rav Anish FPMI, Director of Global Pensions Policy & Propositions at Capita Pension Solutions
3. Join a Professional Network
Membership in a professional organisation is a valuable step in your career journey. PMI’s student membership provides access to a network of industry professionals, exclusive resources, and networking opportunities. Engaging with PMI’s community will connect you with mentors, peers, and industry leaders, offering insights and guidance that can be crucial for your career development.
4. Pursue continuous learning
The pensions industry is dynamic, with ongoing changes in regulations, technology, and best practices. Staying up-to-date is vital for career growth. PMI’s training programmes , articles, and Pensions Aspects magazine, are designed to help you keep pace with industry developments. From online exams to conferences, continuous learning will ensure you remain knowledgeable and competitive in the field.
5. Gain Practical Experience
Practical experience is indispensable in any career. Seek internships, entry-level positions, or volunteer opportunities in the pensions sector to apply theoretical knowledge and develop essential skills. You can check our career page here.
6. Find a Mentor
Having a mentor can significantly impact your career trajectory. A mentor provides guidance, shares industry insights, and helps you navigate challenges. PMI’s mentoring and development programme connects you with experienced professionals who can offer personalised advice, support, and valuable career insights. Engaging with a mentor through PMI can accelerate your professional growth and help you achieve your career goals.
"I formed an excellent relationship with my mentor which built up over the year. The guidance was invaluable to my successful promotion."
Simon Magee APMI (mentee)
Conclusion
Starting a career in the pensions industry is about more than just acquiring knowledge, it's about shaping futures, including your own. By earning the right qualifications, gaining hands-on experience, and developing essential hard and soft skills, you’ll unlock exciting opportunities in this impactful field.
At PMI, we’re passionate about empowering change through education. Whether you're just beginning or looking to advance, we offer tailored Pathways to help you achieve your career aspirations in the world of pensions.
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Last update: 4 October 2024
