Pension Transfer Masterclass
Pension Transfer Masterclass
Our Pension Transfer Masterclass has been designed to refresh your knowledge and practical application in the key areas of options for early leavers, revaluation, escalation and GMP, CETV, enhanced transfer values, death benefit comparison and pension changes. This is a must for all Pension Transfer Specialists.
We deliver interesting and engaging content including a full and comprehensive PDF download for those who like to read, review and reflect. Video tutorials covering all the key concepts, and worked examples in an easy and engaging learning style. This Masterclass will give you the confidence to engage more proactively with your clients – to help you provide better advice, and ultimately write more business.
We will evidence your transfer of learning using a multiple choice quiz and on passing this, you will be awarded with an Expert Pensions certificate providing 4 hours of structured CPD towards your annual statement of professional standing (SPS).
Masterclass Learning Outcomes
On successful completion of this short course on pension transfers, you will have achieved the following learning outcomes:
- Learning Outcome 1
Describe the circumstances under which a refund of contributions is available to an early leaver and calculate the amount of income tax due in relation to the refund of contributions.
- Learning Outcome 2
Describe the circumstances in which a preserved pension is available to an early leaver and calculate the value of the preserved pension. - Learning Outcome 3
Demonstrate awareness of the minimum rates of revaluation and escalation and apply the minimum rates of revaluation and escalation to clients who have left their pension schemes at different dates.
- Learning Outcome 4
Define a cash equivalent transfer value (CETV) and outline the four-step calculation process for determining a CETV.
- Learning Outcome 5
State what an enhanced transfer value is, describe the circumstances in which one might be offered and the main advice considerations.
- Learning Outcome 6
Define an enhanced transfer value (ETV) and describe the circumstances in which an ETV might be offered.
- Learning Outcome 7
List the timescales for transfer requests when benefits exceed £30,000 and outline the specific actions that must occur within each timescale.
- Learning Outcome 8
Analyse the differences in tax treatment for death benefits before and after the age of 75 (updated in context of March 2023 budget) and evaluate whether a lifetime allowance test and/or tax calculation is required for death benefit entitlement or maximum tax free cash entitlement
- Learning Outcome 9
Compare the protection available to a scheme member of a defined benefit scheme under the Pension Protection Fund (PPF) with the protection offered to a member of a defined contribution scheme under the Financial Services and Compensation Scheme (FSCS).
- Learning Outcome 10
Summarise the Financial Conduct Authority’s (FCA) recent changes to pension transfer rules and highlight the key points introduced in PS18/6, PS18/20, PS20/6 and FG21/3.
- Learning Outcome 11
Describe what a triage service is in the context of pension transfers and explain how the service can benefit both clients and advisers.
- Learning Outcome 12
State the three core elements that need to be present in a compliant suitability report and outline the general considerations that need to be met.
- Learning Outcome 13
Explain what a transfer value comparator (TVC) is and its role in the pension
transfer process.
- Learning Outcome 14
Summarise how the appropriate pension transfer analysis (APTA) is used in the pension transfer process.
- Learning Outcome 15
Review how cash flow modelling can be used to support a client’s retirement journey.
- Learning Outcome 16
Explain the additional factors that must be taken into account when advising on pension transfers for overseas clients.
Pension Transfer Masterclass
Why choose Expert Pensions?
At Expert Pensions we have specialists who have gained knowledge in their particular subject over a sustained period of time (a specialist spends a significant amount of time, (usually over 10,000 hours) honing their craft), which is hard to come by. We have become the “go-to” expert in terms of studying for financial services exams, cpd, masterclasses and our triage service where our knowledge and expertise goes deep and wide.
Our Masterclasses have been written and designed by professionals for professionals. They are an immersive online experience. Each class includes extensive pre-recorded video content, downloadable pdf’s, an online quiz and a CPD certificate. The videos are viewable at any time, and they can be paused, fast-forwarded, and re-watched as many times as you’d like.
Our Masterclasses will power up your career and future-proof your business by focusing on key topics. Designed to connect you, your clients and your business, this is not about ticking a box, this is to develop your technical and practical understanding of subjects and products that you discuss with your clients.
Continuing Professional Development (CPD)
Continuing Professional Development is just as important for your future career potential in the financial sector just as much as passing exams was early on in your career. Effective and consistent CPD is an essential part of maintaining professional standards providing your clients and employer with the reassurance that, as a financial services professional, you continue to maintain and develop your knowledge and skills. Click below to read the FCA’s guidance on professional standards for advisers:
https://www.fca.org.uk/firms/professional-standards-advisers