The Pensions Management Institute (PMI) has used its 50th anniversary to set out a renewed focus on raising professional standards, strengthening education and supporting the next generation of pension professionals, amid what it described as a period of “profound structural change” for the industry.

In a blog marking the milestone, PMI CEO, Gareth Tancred, said the anniversary was “less about looking back and more about shaping a stronger system for the future”, as long-predicted reforms around scale, consolidation and governance begin to materialise.

Tancred pointed to the experience of Tom Dibble, a 33-year-old participant on the PMI’s Trustee Accelerator Programme (TAP), who admitted he had previously assumed trustees were “older professionals at the end of their careers”.

“TAP completely changed that perception,” Dibble said, reflecting a wider shift in how the profession is evolving.

Tancred argued that the industry must engage and train a new generation of professionals who understand pensions beyond a traditional defined benefit (DB) lens, and who have the skills required to deliver strong outcomes for defined contribution (DC) savers over the coming decades.

According to Tancred, professionalism will become the PMI’s “most visible and urgent priority” in 2026, as regulatory expectations continue to rise and governance scrutiny intensifies.

He warned that minimum compliance was too often mistaken for quality, with capability across the system remaining uneven.

“Our mission is to continue to close that gap by championing the standards, skills and behaviours that lead to better decision-making and stronger member outcomes,” he stressed.

Meanwhile, Tancred noted that the PMI was continuing to modernise its qualifications and training programme to reflect the needs of a system that now spans DB superfunds and DC megafunds, while also offering a clearer pathway for both lay and professional trustees.

Recent changes included more regular exam resit opportunities and the launch of a PMI Approved Centre, Factito, to support pension professionals in gaining relevant qualifications and skills.

The PMI said it would continue to strengthen accreditation as a “trusted signal of excellence” across the industry.

Indeed, education and talent development will also form a central plank of the PMI’s strategy.

The expanded TAP initiative, now backed by four master trust providers as official sponsors, is designed to widen access to trusteeship and attract individuals from outside the traditional pensions profession.

The fully funded programme is open to the wider industry and aims to remove barriers to entry, while helping trustee boards better reflect the diversity and lived experience of the members they serve.

Tancred said the future of pensions depended on “skilled, curious, diverse people who understand the responsibility of long-term decision-making”.

The PMI also signalled that it would take an active role in supporting schemes as significant legislative and regulatory changes took effect, including reforms expected to flow from the forthcoming Pension Schemes Bill and the work of the Pensions Commission.

Tancred stressed that the organisation would go beyond consultation responses, providing guidance, training and direct engagement to help trustees and administrators interpret and implement new requirements on governance, transparency, reporting, data management and member protection.

“The decisions we all make now – about capability, governance, scale and regulatory design – will shape the financial futures of millions,” he stated.

“As we celebrate 50 years of the PMI, our purpose remains unchanged: to raise standards, strengthen capability and support a pensions system that delivers for every saver.”

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