Important Update

As a result of one of our recently published blogs about PTS qualifications, things have been getting interesting!

A student had contacted the LIBF concerned that her studies with them would not allow her to meet the pensions transfer criteria. She had read our blog below:

The FCA Handbook does indeed currently say:

“Pension Transfers plus Diploma for Financial Advisers (DipFA®) post 2010 exam standards”.

However, this does not mean that a DipFA equivalent can’t be used in conjunction with PETR to achieve AwPETR and meet the Pension Transfer standard.

The LIBF, in practice, frequently allow the CII’s Diploma in Regulated Financial Planning (and other equivalents) to exempt the DipFA. So it’s not as bad as it may first appear.

In Summary

There is even better news! The LIBF contacted Expert Pensions to let us know that they are currently working with the FCA to have the wording amended in the FCA Handbook. They want to provide clarity that post 2010 exam standards/an RDR compliant qualification for Activities 4 and 6 will be accepted as an entry point onto their Pension Transfer qualification. They hope to receive clarification in the Autumn.

The LIBF also wanted to confirm that they review all applications to ensure that prior qualifications being used for entry onto their qualifications meet the required standards.

We are delighted to issue this statement to clarify the position to all our current and future PETR students.

The next question is:

What are the key differences between the LIBF PETR and the CII AF7 and even the CISI PTPA? Now that’s for another day!