The Pensions Management Institute (PMI) has launched its new membership and qualification structure, PMI Pathways.

The new structure aims to ensure that the PMI is more aligned with a wider range of pension career aspirations.

It has been launched following a consultation last year, which the PMI stated had received a positive response.

PMI Pathways ‘streamlines’ the institute’s membership grades into four levels: Student, Professional, Associate and Fellow.

The ‘Professional’ grade is new to the PMI’s membership structure, combining the PMI’s existing certificate and diploma grades.

Furthermore, the PMI said that the simplified structure would help students develop better-defined career paths and take exams that were more relevant to a wider range of roles in the pensions industry.

The PMI has also created five separate routes to fellowship: Retirement provision, pensions admin (technical), pensions admin (practical), pensions trusteeship and pensions benefit, with these designed to create more inclusivity.

The institute noted that the structure would make it easier for professionals working in different parts of the industry to obtain the ‘Fellow’ level of membership.

It argued that this change will make the PMI’s senior membership more diverse and representative of the industry, and would give more members the opportunity to stand on the PMI’s board and advisory council.

Under the new pathways structure, all learners will start as student members, with the successful completion of a unit and/or qualification making these learners eligible for a Professional membership.

Completion of all units and qualifications under a pathway and at least two years of Professional membership will allow members to upgrade to an Associate membership.

After five years as an Associate member with CPD and demonstrable experience, members can apply for Fellowship.

“Following positive feedback from our membership consultation, we’re excited to launch our new pathways,” commented PMI CEO, Gareth Tancred.

“These are designed to make our membership and qualifications simpler to access for all. The five pathways have been introduced to make our qualifications more streamlined to a specific career path.

“These changes should allow our members to undertake a group of units or qualifications that fit their career goals.

“We want to reassure members and employers the PMI’s high standards will still need to be met at all levels. The qualifications will not be made any easier and advanced diploma exams will continue to be mapped to the nationally recognised qualifications framework."

Share Story: