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Level 6 Pension Transfers (PETR)

Professional qualifications

Level 6 Pension Transfers (PETR)

Do you want to support your customers better through their retirement? In just five months you could meet the FCA regulations for providing Pensions Transfers advice to your customers.

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About the qualification

Due to new legislation, the demand for high quality pensions advice has increased, both generally and specifically relating to transfers.

This single module will give you all the knowledge you will need on the pension transfer market place and it will build your practical skills so that you can excel when making your recommendations to clients.

You will focus on developing a detailed knowledge of what transfer options are out there and their implications. You’ll also be better prepared to establish what your client needs are and be able to analyse and evaluate them in detail. 

PETR is a specialist option unit within the Level 6 Diploma in Financial Advice (Adv DipFA). When combined with either the Diploma for Financial Advisers (DipFA) or an RDR compliant qualification for Activities 4 and 6., it meets the FCA requirement for pension transfer specialists to advise on defined benefit and contribution schemes.

While studying with us, you’ll become a Member of The London Institute of Banking & Finance (MLIBF), receiving benefits including careers support and access to professional networking events.

What your studies will cover

  • The pension transfers market
  • How to apply suitable solutions to meet your customers individual circumstances
  • The legal and regulatory framework especially the importance of framing advice ethically
  • Factors that influence critical yield
  • The implications of the source of a transfer and moving between different pension schemes
How much does it cost? £525 – the price includes study materials and exam entry
Average time to complete
Four months
Number of units       One
How will I be assessed? Exam. View the assessment section for further details

You can take your exam at a test centre or at home with remote invigilation
What study materials do I get?

As part of your fee, you’ll get: 

  • access to our virtual library KnowledgeBank
  • weekly study guides
  • tutor-led forum with group activities
  • live and recorded webinars
  • exemplar papers
  • chief examiner reports
  • unit syllabus
  • online access to our student portal MyLIBF
Recognition of prior learning
  • If you hold an RDR-compliant qualification in financial advice, with us or another awarding body, you can register to study PETR.
  • If you hold a Statement of Professional Standing (SPS) as a retail investment adviser, with us or another awarding body, you can register to study PETR.
How will I study? Everything is online, you’ll follow a structured timetable 
Regulation
  • Registered with Ofqual in the Regulated Qualifications Framework (RQF)
  • Meets the Financial Conduct Authority's (FCA) examination standards


Get up-to-date information relating to Coronavirus.

Units

You can study PETR as a standalone qualification or as part of the Level 6 Diploma in Financial Advice (Adv DipFA) which can lead to chartered status.

Unit - Pension Transfers (PETR)

  • A thorough grounding in pension transfers
  • Applying suitable pension transfer solutions to a client’s specific circumstances
  • Impact the Pension Protection Fund and the Financial Ombudsman Service has on a scheme with solvency issues

CPQ Blue Testimonial

Since completing the qualification my confidence in advising clients has increased and I now undertake pension transfer work for other firms. I would recommend the qualification to anyone looking to gain additional knowledge in the area of retirement planning.

Adam Caga Director RVW WealthCare Ltd

Timetable

You can register for one of the following study sessions throughout the year:

Details Date 
 Registration deadline   23 January 2023 
 Course start date   13 February 2023 
 Pre-released case study   20 April 2023
 Exam deadline   01 June 2023

Details Date 
 Registration deadline   24 July 2023 
 Course start date   14 August 2023 
 Pre-released case study   19 October 2023
 Exam deadline   30 November 2023  

Details Date 
 Registration deadline   22 January 2024 
 Course start date   12 February 2024  
 Pre-released case study   18 April 2024
 Exam deadline   30 May 2024

Assessment

You will be assessed by a 3-hour 15 minute exam with a mixture of multiple-choice, short answer and long answer questions.

These exams will be pre-booked for you depending on which study session you join. Please refer to the timetable section (above) for dates of the exams. 

Exam and assessment information

When you have successfully completed the qualification, we will post your certificate to you.

Continued Professional Development (CPD)

150 CPD hours can be claimed by studying PETR. These meet the requirements set out by the Financial Conduct Authority (FCA) for purposes of retention of an SPS or CPA. 

PETR relates to the following FCA Exam Standards for claiming CPD:
  • Pensions law
  • Regulation in relation to pensions planning
  • Aims & objectives of retirement planning including the investment issues and structure
  • Characteristics and application of defined benefit and defined contribution schemes

  • Visit the CPD page for further details and requirements

    Accredited Learning Support Providers

    Some students prefer a qualification route with extra learning support. We have recognised a select number of course providers offering PETR learning support. Using a learning support provider is entirely up to you - it is NOT a requirement of your studies - but this extra support might be beneficial to your learning. You’ll need to pay for such provision directly to your chosen ALSP.

    Please note that you will still need to register and complete PETR via us as we are the qualification awarding body.

    Find out more

    An ALSP is a training organisation that has joined our ALSP scheme and has been formally recognised by us as delivering appropriate additional learning and training support.

     

    To gain our recognition, an ALSP’s course is assessed rigorously and must continue to meet certain quality standards relating to:

     

    • accuracy of course information
    • comparability to The London Institute of Banking & Finance’s programme of study
    • accuracy of course content
    • quality of delivery, both online and in a classroom
    • trainer/author credentials
    • course management policies and procedures
    • satisfactory annual reporting of their training activities and course management

     

    While all ALSPs’ courses undergo regular monitoring, they might not be suitable for all students and we offer no guarantee of success in the exam to users of them. If you are considering using third party services, it’s very important that you assess their offering against your needs and choose your provider with great care – please see the FAQ on what you should look for when choosing a learning support provider. A list of our current Pensions Transfers ALSPs is here.

     

    Using a third party learning provider is entirely your choice: it is NOT a requirement of your Pensions Transfers studies. However, once you have commenced your studies, if you feel you would like or need supplementary support in addition to the resources available from The London Institute of Banking and Finance , paying for an additional course might benefit you. For example, an extra online course from a training provider might be structured in a way that suits your learning style.

     

    Many training organisations also offer face-to-face workshops. The benefits of these include you being able to meet and learn with fellow students and a qualified trainer, discuss issues relating to your individual needs, undertake varied activities, practice exam questions and better understand your progress and learning gaps - all away from the distractions of a work/home environment.

    There are dozens of learning support providers offering training courses. Please be aware that while websites appear to be professional-looking, not all are bona fide organisations: for example, a ruling by the Advertising Standards Agency in 2018.

     

    So, if you are considering using a learning support provider that is not an ALSP, we strongly recommend you read its website thoroughly and look at whether:

    · it can be contacted by phone or e-mail (beware of those only offering a call-back service)

    · an address is given – check on the Companies House website that the company and its address are genuine. Do an online search on the address: does the company operate from professional-looking premises?

    • training course fees are clearly stated

    · it states you will also need to register with The London Institute of Banking & Finance and pay the appropriate fee
    syllabus information and course content appears accurate, complete and up to date
    there are any testimonials (but bear in mind they might not be genuine)
    there are clearly stated terms and conditions. Make sure you read them carefully.
    the organisation claims to be recognised or accredited by The London Institute of Banking & Finance and/or uses its logo. Please note that only ALSPs are authorised to state they are accredited by us and display the official ALSP logo. The names and contact details of our ALSPs who offer support for Pensions Transfers are published on our website here.

     

    You are strongly advised not to simply register and/or pay for a course online. Your first step should be to phone the organisation to discuss the course and your needs. If they cannot describe the course in detail, or if there is no answer and they do not reply to voicemails or e-mails, you should be very cautious.

    We are aware of a number of revision courses and learning materials being offered for sale online. If these are not being offered by one of our Accredited Learning Support Providers, you should be very wary of buying these items, even if they appear to be good value. The provider and the materials have not been reviewed by us and therefore their quality and relevance to your studies is unknown. Note that these materials might be incomplete, inaccurate or out of date and could be misleading to you.

    If you have any concerns, please e-mail customerservices@libf.ac.uk 

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